Form 4: PPG Industries CEO Timothy Knavish Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
PPG Industries Chairman and CEO Timothy Knavish reported the acquisition of phantom stock units convertible to common stock, according to a Form 4 filing with the SEC.
Summary
- On April 30, 2024, Timothy M. Knavish, Chairman and CEO of PPG Industries, acquired 10.0323 phantom stock units.
- These units are convertible to common stock on a one-for-one basis after termination of employment with PPG.
- The price of the phantom stock units was $129.
- Following the transaction, Knavish beneficially owns 10,843.2772 phantom stock units through the PPG Industries, Inc. Deferred Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.
Future Outlook
The phantom stock units will convert to common stock on a one-for-one basis after termination of employment with PPG.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track changes in beneficial ownership.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 04/30/2024 | Date of transaction: Acquisition of phantom stock units |
| 05/01/2024 | Date of signature on the report |
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