Form 4: PPG Industries Director Fortmann Converts Restricted Stock Units to Phantom Stock

Director Kathy Lynn Fortmann converted restricted stock units into phantom stock and acquired additional phantom stock units and restricted stock units in transactions reported on April 18, 2025.

Summary

• On April 16, 2025, Kathy Lynn Fortmann, a director at PPG Industries, converted 1,041 restricted stock units into phantom stock units under the PPG Industries, Inc. Deferred Compensation Plan for Directors.
• The conversion occurred upon the vesting of the restricted stock units, which were initially granted on July 17, 2024.
• Fortmann also acquired 326.0768 phantom stock units on April 17, 2025, at a price of $100.05, bringing her total holdings to 2,153.5743 phantom stock units.
• Additionally, on April 17, 2025, Fortmann acquired 1,849 restricted stock units that vest on April 15, 2026.
• The phantom stock units convert to common stock on a one-for-one basis after termination of service as a Director of PPG Industries, Inc.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The reporting person will receive common stock for the phantom stock units after termination of service as a Director of PPG Industries, Inc. and will receive common stock for the restricted stock units after they vest on April 15, 2026.

Industry Context

This Form 4 filing is a routine disclosure of stock transactions by a company insider, providing transparency to investors regarding the director's holdings and transactions in PPG Industries stock. It is common for directors to receive and manage stock-based compensation as part of their overall remuneration.

Comparison to Industry Standards

• Stock-based compensation, including restricted stock units and phantom stock, is a common practice among publicly traded companies like PPG Industries to align the interests of directors and executives with those of shareholders.
• Companies such as Sherwin-Williams (SHW) and Axalta Coating Systems (AXTA), which are competitors of PPG Industries, also utilize similar stock-based compensation plans for their directors and executives.
• The specific terms and conditions of these plans, such as vesting schedules and conversion ratios, can vary depending on the company's compensation policies and industry practices.

Stakeholder Impact

• The transactions reported in this filing may have a minor impact on shareholders, as they provide insight into the director's investment decisions and holdings in the company.
• The conversion of restricted stock units to phantom stock units does not directly affect employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, PPG Industries, Director, Kathy Lynn Fortmann, Restricted Stock Units, Phantom Stock Units, Beneficial Ownership, Deferred Compensation Plan