Form 4: PPG Industries CEO Timothy Knavish Reports Changes in Beneficial Ownership
SEC Filing
PPG Industries Chairman and CEO Timothy Knavish reports acquisition of phantom stock units convertible to common stock following a transaction on March 29, 2024.
Summary
- On April 2, 2024, Timothy M. Knavish, Chairman and CEO of PPG Industries, filed a Form 4 with the SEC.
- The filing reports a transaction on March 29, 2024, involving phantom stock units.
- Knavish acquired 0.6694 phantom stock units at a price of $144.9.
- These units convert to common stock on a one-for-one basis after termination of employment with PPG.
- Following the reported transaction, Knavish beneficially owns 10,823.0572 phantom stock units.
- These units are held directly and represent interests in an unfunded unitized company stock fund comprised of stock and cash.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting changes in beneficial ownership, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing indicates changes in the CEO's holdings of phantom stock units, which are a form of deferred compensation.
Key Dates
| Date | Description |
|---|---|
| 03/29/2024 | Date of transaction involving phantom stock units |
| 04/02/2024 | Date of Form 4 filing |
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