Form 4: Minerals Technologies Inc. Director John J. Carmola Reports Acquisition of Phantom Stock Units

Director John J. Carmola reports acquiring phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• On May 15, 2024, John J. Carmola, a director of Minerals Technologies Inc., acquired 1,541.687 phantom stock units.
• These units were accrued under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• Each phantom stock unit is equivalent to one share of Minerals Technologies Inc. Common Stock.
• The phantom stock units will be settled in cash upon Carmola's termination of service as a director.
• Following the transaction, Carmola beneficially owns 23,001.583 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating stable corporate governance practices. It's neither overwhelmingly positive nor negative.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan is a common practice to retain and incentivize non-employee directors.

Future Outlook

The phantom stock units will be settled in cash upon the reporting person's termination of service as a director.

Industry Context

Deferred compensation plans using phantom stock units are a common method for compensating non-employee directors in publicly traded companies, aligning their interests with shareholders.

Comparison to Industry Standards

• Many companies, such as Ecolab, use similar deferred compensation plans for their non-employee directors.
• These plans often involve granting stock options or phantom stock units that vest over time and are settled in cash or stock upon retirement or termination of service.
• The specific terms of these plans, such as the vesting schedule and settlement method, can vary depending on the company's compensation policies and industry practices.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with company performance.
• The deferred compensation plan provides a long-term incentive for the director to contribute to the company's success.

Key Dates