Form 4: PPG Industries CEO Timothy Knavish Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Chairman and CEO of PPG Industries, Timothy M. Knavish, reports the acquisition of phantom stock units convertible to common stock.
Summary
- Timothy M. Knavish, Chairman and CEO of PPG Industries, filed a Form 4 indicating a transaction involving derivative securities.
- On April 15, 2024, Knavish acquired 10.1877 phantom stock units, which convert to common stock on a one-for-one basis.
- The price of the derivative security was $135.02.
- Following the reported transaction, Knavish beneficially owns 10,833.2449 derivative securities.
- These phantom stock units are held directly and represent interests in an unfunded unitized company stock fund comprised of stock and cash within the PPG Industries, Inc. Deferred Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing. It doesn't convey any explicit positive or negative sentiment, simply reporting a transaction.
Industry Context
This filing is a routine disclosure of executive compensation and holdings, common in publicly traded companies. It provides transparency regarding the alignment of executive interests with shareholder value.
Stakeholder Impact
- The transaction may have a minor positive impact on shareholder confidence as it demonstrates the CEO's continued investment in the company.
Key Dates
| Date | Description |
|---|---|
| 04/15/2024 | Date of transaction: Acquisition of phantom stock units. |
| 04/16/2024 | Date of signature for the Form 4 filing. |
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