Form 4: PPG Industries CEO Acquires Phantom Stock Units

PPG Industries CEO Timothy M. Knavish acquired 37.2372 phantom stock units on December 31, 2024, convertible to common stock after termination of employment.

Summary

• PPG Industries CEO, Timothy M. Knavish, acquired 37.2372 phantom stock units on December 31, 2024.
• These phantom stock units convert to common stock on a one-for-one basis after termination of employment with PPG.
• The price of the underlying common stock at the time of the transaction was $119.45.
• The total number of phantom stock units held by Mr. Knavish in the PPG Industries, Inc. Deferred Compensation Plan is 11,474.1497.
• The number of shares attributed to Mr. Knavish as a Plan participant may change depending on the fair market value of PPG's common stock and the amount of cash in the fund.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction related to executive compensation. It is neither particularly positive nor negative, but rather a standard practice.

Positives

• The acquisition of phantom stock units by the CEO could be seen as a positive sign of his confidence in the company's future performance.

Risks

• The value of the phantom stock units is tied to the performance of PPG's common stock, which is subject to market fluctuations.
• The actual number of shares attributed to Mr. Knavish may change based on the stock's fair market value and the cash balance in the fund.

Industry Context

This is a routine filing related to executive compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• Many publicly traded companies use phantom stock units as part of their executive compensation packages.
• The vesting and conversion terms are typical for such arrangements, often tied to continued employment or retirement.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it is part of the CEO's compensation package.
• The acquisition of phantom stock units aligns the CEO's interests with those of the shareholders.

Key Dates

Keywords

phantom stock units, PPG Industries, Timothy M. Knavish, CEO, deferred compensation, stock acquisition, insider trading