Form 4: PPG Industries CEO Timothy Knavish Reports Changes in Beneficial Ownership
SEC Filing
PPG Industries Chairman and CEO Timothy Knavish reports an acquisition of phantom stock units convertible to common stock, as indicated in a Form 4 filing with the SEC.
Summary
- Timothy M. Knavish, Chairman and CEO of PPG Industries, filed a Form 4 with the SEC.
- The filing reports a transaction involving phantom stock units that convert to common stock on a one-for-one basis.
- On May 15, 2024, Knavish acquired 0.7183 phantom stock units at a price of $135.04.
- Following the reported transaction, Knavish beneficially owns 10,836.9005 phantom stock units.
- These units are held in the PPG Industries, Inc. Deferred Compensation Plan and represent interests in an unfunded unitized company stock fund.
- The number of shares attributed to Knavish may change depending on the fair market value of PPG's common stock and the amount of cash in the fund.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, providing transparency to the market.
Key Dates
| Date | Description |
|---|---|
| 05/15/2024 | Date of transaction: Acquisition of phantom stock units. |
| 05/16/2024 | Date of signature on the Form 4 filing. |
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