Form 4: PPG Industries CFO Acquires Phantom Stock Units

PPG Industries' Senior VP and CFO, Vincent J. Morales, acquired 26.1575 phantom stock units, convertible to common stock, as part of the company's deferred compensation plan.

Summary

• Vincent J. Morales, Senior VP & CFO of PPG Industries, acquired 26.1575 phantom stock units on November 15, 2024.
• These phantom stock units are part of the PPG Industries, Inc. Deferred Compensation Plan.
• The units convert to common stock on a one-for-one basis after termination of employment with PPG.
• The price of the phantom stock units was $122.53 per unit.
• The total number of phantom stock units held by Mr. Morales is 17,906.2888.
• The phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to slightly positive as it aligns management with company performance.

Positives

• The acquisition of phantom stock units aligns the CFO's interests with the long-term performance of the company.
• The deferred compensation plan is a common practice for retaining key executives.

Industry Context

This type of transaction is common for executive compensation packages in publicly traded companies, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Many large public companies use phantom stock units as part of their executive compensation packages.
• Companies like Sherwin-Williams and Axalta also use similar compensation methods to incentivize their executives.
• The vesting and conversion terms are typical for these types of awards, often tied to continued employment.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

PPG Industries, phantom stock units, deferred compensation, Vincent J. Morales, CFO, executive compensation, stock ownership