Form 4: Minerals Technologies Inc. Director Kristina M. Johnson Reports Phantom Stock Unit Acquisition

Director Kristina M. Johnson reports the acquisition of phantom stock units in Minerals Technologies Inc. under the company's deferred compensation plan.

Summary

• Kristina M. Johnson, a director of Minerals Technologies Inc., filed a Form 4 to report changes in beneficial ownership.
• On June 13, 2024, Johnson acquired 1.852 phantom stock units under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• These phantom stock units are the economic equivalent of one share of Minerals Technologies Inc. Common Stock and will be settled in cash upon termination of service as a director.
• Following the reported transaction, Johnson beneficially owns 1,543.539 phantom stock units directly.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment due to alignment of interests.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan provides a mechanism for retaining and incentivizing non-employee directors.

Industry Context

This filing is a routine disclosure related to director compensation and is common among publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are a standard practice for compensating non-employee directors in publicly traded companies.
• Companies like Ecolab and Sherwin-Williams also utilize similar deferred compensation plans for their directors.
• The amount of phantom stock units granted is generally aligned with industry benchmarks for director compensation.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director interests with company performance.

Key Dates