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 that convert to common stock after termination of employment.
Summary
- On March 15, 2024, Timothy M. Knavish, Chairman and CEO of PPG Industries, acquired 5.3943 phantom stock units.
- These units convert to common stock on a one-for-one basis after termination of employment with PPG.
- The price of the derivative security was $137.86.
- Following the transaction, Knavish directly owns 10,829.5413 phantom stock units through the PPG Industries, Inc. Deferred Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding stock ownership, and therefore has a neutral sentiment.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure of a company executive's stock-based compensation. It's common for executives to receive stock options or restricted stock units as part of their compensation packages, aligning their interests with those of shareholders.
Stakeholder Impact
- The transaction has a minor positive impact on shareholders as it aligns the CEO's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of transaction: Acquisition of phantom stock units. |
| 03/18/2024 | Date of signature on the report. |
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