Form 4: Minerals Technologies Inc. Executive Exercises Stock Options and Sells Shares
SEC Form 4 Filing
Brett Argirakis, Group President of Minerals Technologies Inc., exercised stock options and sold shares to cover withholding taxes and costs.
Summary
- On June 17, 2024, Brett Argirakis, Group President of Minerals Technologies Inc., exercised employee stock options to acquire 2,630 shares of common stock at a price of $60.185 per share.
- Simultaneously, Argirakis sold 2,259 shares of common stock at a weighted average price of $83.95, with prices ranging from $83.9486 to $83.965.
- The sale was likely to cover withholding taxes and costs associated with exercising the options, with the balance of shares retained by the officer.
- Following these transactions, Argirakis directly owns 23,102 shares of common stock and indirectly owns 2,597.779 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock option exercises and sales, indicating a neutral sentiment.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to executive compensation. It's common for executives to exercise stock options and sell a portion of the acquired shares to cover taxes.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/20/2015 | Date options were granted |
| 01/20/2016 | Options vested in three equal annual installments beginning on this date. |
| 06/17/2024 | Date of stock option exercise and share sale. |
| 01/20/2025 | Expiration date of the employee stock options. |
| 06/18/2024 | Date of Form 4 filing. |
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