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MINERALS TECHNOLOGIES INC·4

Jan 27, 3:58 PM ET

Hastings Jonathan J 4

Research Summary

AI-generated summary

Updated

Minerals Technologies SVP Jonathan Hastings Exercises Awards, Sells Shares

What Happened

  • Jonathan J. Hastings, Senior Vice President of Minerals Technologies Inc. (MTX), converted 6,164 deferred restricted stock units (DRSUs) into common shares in two exercises (3,113 on Jan 23, 2026 and 3,051 on Jan 26, 2026).
  • To satisfy tax withholding obligations, the company withheld 1,354 shares on Jan 23 at $68.77/share ($93,115) and 1,327 shares on Jan 26 at $68.89/share ($91,417), totaling 2,681 shares withheld and ~$184,532 in tax withholding.
  • This was an exercise/settlement of awards (not an open-market purchase or discretionary sale). Withholding to cover taxes is a routine administrative step rather than a directional market trade.

Key Details

  • Transaction dates and actions:
    • 2026-01-23: Converted 3,113 DRSUs to shares (M, acquired); 1,354 shares withheld for taxes at $68.77/share (F, disposed) — $93,115.
    • 2026-01-26: Converted 3,051 DRSUs to shares (M, acquired); 1,327 shares withheld for taxes at $68.89/share (F, disposed) — $91,417.
  • Total converted: 6,164 shares; total withheld for taxes: 2,681 shares (~$184,532).
  • Shares owned after the transactions: Not specified in this filing.
  • Footnotes of note:
    • F1: Shares were withheld by Minerals Technologies to satisfy tax withholding.
    • F3–F5: These were DRSUs (each equals one share) granted in 2023 and 2024 with multi-year vesting schedules (vest in three equal annual installments beginning in 2024/2025).
    • F2: Report is based on a Plan Statement dated Jan 21, 2026.
  • Filing timeliness: Report filed Jan 27, 2026 for transactions on Jan 23 and Jan 26, 2026 — filing date appears timely per standard Form 4 deadlines.

Context

  • DRSU conversion and tax-withholding: Converting vested DRSUs into shares and having the employer withhold shares to cover taxes is common and administrative (a cashless settlement), not necessarily a signal of the insider buying or selling stock for investment reasons.
  • These transactions reflect award vesting/settlement rather than an open-market sale or purchase; retail investors should view them as routine compensation-related activity.