Ingredion (INGR) SVP Michael J. Leonard Receives Phantom Stock Award

What Happened
Michael J. Leonard, SVP, CIO & Head of Protection & Fortification at Ingredion, was granted 34.343 phantom stock units on July 31, 2026. The units are recorded at $99.46 each, for an aggregate value of $3,416. The filing classifies this as a derivative award (code A) under the company's deferred compensation arrangements.

Key Details

• Transaction date: 2026-07-31; Filing date: 2026-08-03. The Form 4 does not indicate a tardy filing.
• Transaction type/code: Award/Grant (A) of phantom stock units (derivative).
• Quantity and price basis: 34.343 units valued at $99.46 per share (aggregate value $3,416).
• Shares owned after transaction: Not reported in the supplied data.
• Footnotes:
  • F1: Units represent phantom stock allocated under the Non-Qualified Deferred Compensation Plan; each unit equals the right to receive one share, valued using the July 31, 2026 closing price.
  • F2: The reported units include phantom stock acquired through dividend reinvestment.

Context
Phantom stock units are a form of deferred compensation that give the holder a right to receive the equivalent value of company shares (cash or shares) at a future date; they are not the same as an open‑market purchase and do not by themselves indicate an immediate bullish or bearish trade. This transaction appears to be part of compensation/retention arrangements rather than a cash purchase or sale.