Form 4: Minerals Technologies Inc. Director Marc E. Robinson Reports Acquisition of Phantom Stock Units

Director Marc E. Robinson reported acquiring phantom stock units in Minerals Technologies Inc. under the company's deferred compensation plan.

Summary

• On June 13, 2024, Marc E. Robinson, a director of Minerals Technologies Inc., reported acquiring 26.612 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 Robinson's termination of service as a director.
• Following the transaction, Robinson beneficially owns 22,181.47 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns director interests with company performance.

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 way to reward and 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 are a common practice in corporate governance to align the interests of non-employee directors with the long-term success of the company. These plans often involve granting stock options, restricted stock, or phantom stock units that vest over time or upon certain conditions, such as retirement or termination of service. This encourages directors to make decisions that benefit the company's shareholders over the long term.

Comparison to Industry Standards

• Many companies use deferred compensation plans for non-employee directors, often involving phantom stock units or similar instruments.
• The specifics of these plans, such as vesting schedules and settlement terms, can vary widely depending on the company's size, industry, and compensation philosophy.
• Comparing Minerals Technologies Inc.'s plan to those of similar-sized companies in the materials sector would provide a better benchmark.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning the director's interests with the company's long-term success.

Key Dates