PLATT PHILLIP JOHN 4
4 · Ingevity Corp · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Ingevity (NGVT) SVP Phillip Platt Receives PSU Award; 108 Withheld
What Happened
Phillip John Platt, Senior VP Finance & CAO of Ingevity (NGVT), received 247 performance-based restricted shares (PSUs) that vested and were settled in common stock on February 26, 2026. To satisfy tax-withholding obligations related to the vested PSUs, 108 shares were withheld (disposed) at a reported value of $70.52 per share, totaling $7,616. The PSU vesting was certified by the Talent and Compensation Committee and settled in shares (no cash purchase).
Key Details
- Transaction date: February 26, 2026 (filing dated March 2, 2026). Filing appears timely (within the typical 2-business-day Form 4 window).
- Award/Acquisition: 247 PSUs settled into 247 shares at $0.00 acquisition price (footnote F1).
- Tax withholding/Disposition: 108 shares withheld/disposed at $70.52 each, total $7,616 (footnote F3).
- Additional note (footnote F2): the filing also references prior ESPP purchases of 386 shares (July–Sep 2025 purchase period) and 143 shares (Oct–Dec 2025 period), each purchased at 85% of the applicable offering-period start price.
- Shares owned after the transactions: not specified in the provided extract.
Context
This was primarily a vesting/settlement of performance stock units, not an open-market buy or a voluntary sale. The 108-share disposal was a routine withholding to cover taxes on vested PSUs (common administrative practice) and should not be read as a directional bet on the stock.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-26+247→ 29,019 total - Tax Payment
Common Stock
[F3]2026-02-26$70.52/sh−108$7,616→ 28,911 total
Footnotes (3)
- [F1]The Talent and Compensation Committee of the Company's board of directors certified the attainment of performance goals for certain performance-based restricted stock awards ("PSUs") effective February 26, 2026. The PSUs were settled with shares of common stock.
- [F2]Includes (i) 386 shares of Common Stock purchased pursuant to the Amended and Restated 2017 Ingevity Corporation Employee Stock Purchase Plan, as amended ("ESPP") for the purchase period of July 1, 2025 to September 30, 2025 (the "September ESPP Shares"), and (ii) 143 shares of Common Stock purchased pursuant to the ESPP for the purchase period of October 1, 2025 to December 31, 2025 (the "December ESPP Shares"). In accordance with the terms of the ESPP, the September ESPP Shares were purchased at a price equal to 85% of the closing price of Issuer's Common Stock on July 1, 2025 and the December ESPP Shares were purchased at a price equal to 85% of the closing price of the Issuer's Common Stock on October 1, 2025.
- [F3]Shares withheld by the Company to satisfy tax withholding obligations related to the PSUs that vested on February 26, 2026.