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

Director John J. Carmola reported the acquisition of phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• On March 7, 2024, John J. Carmola, a director of Minerals Technologies Inc., acquired 29.319 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 21,364.943 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The use of phantom stock units suggests a focus on aligning director interests with shareholder value, which is a positive sign.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan can be seen as a way to retain 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 practice for compensating and retaining non-employee directors in publicly traded companies, aligning their interests with shareholder value.

Comparison to Industry Standards

• Many companies, such as Ecolab and Sherwin-Williams, use similar deferred compensation plans for their non-employee directors.
• These plans typically involve granting phantom stock units that vest over time and are settled in cash or stock upon the director's departure.
• The number of units granted and the terms of the plan vary depending on the company's size, industry, and compensation philosophy.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning director interests with company performance.

Key Dates