MINERALS TECHNOLOGIES INC. (NYSE:MTX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
announced that Matthew E. Garth, 42, was elected Senior Vice
President, Finance and Treasury, and Chief Financial Officer of
the Company. Mr. Garth will join the Company from Arconic Inc.
(formerly Alcoa Inc.), where most recently he had been Vice
President, Financial Planning Analysis and Investor Relations
since 2015. He served in Alcoa’s financial organization since
2002. Prior to his most recent position, he was Vice President,
Finance CFO Operations Alcoa Global Packaging from 2014 to 2015;
Vice President, Finance – Alcoa Global Packaging from 2011 to
2014; Vice President, Finance – Alcoa North American Rolled
Products from 2010 to 2011; Director, Investor Relations Alcoa,
Inc. from 2009 to 2010; and Director, Corporate Treasury Alcoa,
Inc. from 2007 to 2009. Earlier in his career, he worked at
Thomson Financial in New York, where he advised leading
industrial companies on valuation, mergers and acquisitions, and
investor engagement.
annual incentive bonus opportunity of up to 75% of his base
salary (pro rated for 2017 based on his start date), to be earned
based on the achievement of annual performance targets to be
established. In addition, Mr. Garth was also granted long-term
incentive awards, consisting of 4,678 Deferred Restricted Stock
Units (DRSUs), options to purchase 8,033 shares of Company common
stock, and 3,650 Performance Units under the Company’s long-term
incentive plan. The DRSUs and stock options will vest in three
equal annual installments commencing on the first anniversary of
their grant date. The options have an exercise price of $78.025
and have a ten-year term. All of the foregoing awards are
governed by, and subject to, the terms and conditions of the
Company’s 2015 Stock Award and Incentive Plan.
director or executive officer of the Company, and Mr. Garth has
no direct or indirect material interest in any transaction
required to be disclosed to Item 404(a) of Regulation SK.
attached hereto as Exhibit 99.1 and incorporated by reference
herein.
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(d)
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Exhibits
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99.1
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Press Release dated January 23, 2017 |
About MINERALS TECHNOLOGIES INC. (NYSE:MTX)
Minerals Technologies Inc. is a resource-and technology-based company that develops, produces and markets worldwide a range of specialty mineral, mineral-based and synthetic mineral products and related systems and services. It has five segments. The Specialty Minerals, Performance Materials, and Construction Technologies segments produce and sell products and technologies based primarily upon the mineral products calcium carbonate, bentonite, talc, chromite and leonardite. These products are used principally in the paper, metalcasting, building materials, paints and coatings, consumer products, ceramic, polymer, and food and pharmaceutical industries. The Refractories segment produces monolithic refractory materials and specialty products, services and application equipment used by the steel, non-ferrous metal and glass industries. The Energy Services segment provides produced water treatment, filtration and well-testing services to both on-shore and off-shore oil and gas producers. MINERALS TECHNOLOGIES INC. (NYSE:MTX) Recent Trading Information
MINERALS TECHNOLOGIES INC. (NYSE:MTX) closed its last trading session up +0.75 at 82.60 with 150,024 shares trading hands.