Form 4: PPG Industries CEO Acquires Phantom Stock Units

PPG Industries CEO Timothy M. Knavish acquired 4,219.7 phantom stock units on January 31, 2025, convertible to common stock after termination of employment.

Summary

• On January 31, 2025, Timothy M. Knavish, the Chairman and CEO of PPG Industries, acquired 4,219.7 phantom stock units.
• These phantom stock units are convertible to common stock on a one-for-one basis.
• The conversion to common stock will occur after Mr. Knavish's termination of employment with PPG.
• The price of the phantom stock units was $115.38 per unit.
• Following this transaction, Mr. Knavish holds a total of 11,482.4247 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed positively as it aligns management's interests with shareholders. There are no indications of negative sentiment.

Positives

• The acquisition of phantom stock units by the CEO aligns his interests with the long-term performance of the company.
• The deferred compensation plan provides a mechanism for long-term incentive for the CEO.

Future Outlook

The phantom stock units will convert to common stock after the termination of Mr. Knavish's employment with PPG.

Industry Context

This type of stock-based compensation is common for executives in publicly traded companies, aligning their interests with shareholders and incentivizing long-term performance.

Comparison to Industry Standards

• Many companies in the materials and manufacturing sector use phantom stock units as part of executive compensation packages.
• These units often vest over time or upon certain performance milestones, similar to the post-employment conversion in this case.
• Companies like Sherwin-Williams and Axalta Coating Systems also utilize similar long-term incentive plans for their executives.

Stakeholder Impact

• The acquisition of phantom stock units by the CEO is likely to be viewed positively by shareholders as it aligns his interests with the long-term performance of the company.

Key Dates

Keywords

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