Form 4: Robert L. Clark Reports Changes in Beneficial Ownership of Minerals Technologies Inc.

Director Robert L. Clark reports acquisition of phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• Robert L. Clark, a director of Minerals Technologies Inc. (MTX), filed a Form 4 to report changes in beneficial ownership.
• The transaction date was March 7, 2024.
• Clark acquired 37.467 phantom stock units under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• These units are the economic equivalent of one share of Minerals Technologies Inc. Common Stock each.
• The phantom stock units will be settled in cash upon Clark's termination of service as a director.
• Following the reported transaction, Clark beneficially owns 27,301.885 derivative securities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.

Future Outlook

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

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Comparison to Industry Standards

• Deferred compensation plans using phantom stock units are a common method to compensate and retain non-employee directors in publicly traded companies.
• The specifics of the plan (vesting, settlement terms) would need to be compared to similar plans at peer companies to assess its competitiveness.

Stakeholder Impact

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

Key Dates