Form 4: PPG Industries Director Michael Nally Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Michael Nally reports transactions involving restricted stock units and phantom stock units of PPG Industries, Inc.
Summary
- On April 17, 2024, Michael Nally, a director of PPG Industries, Inc., converted 1,174 restricted stock units into phantom stock units under the company's Deferred Compensation Plan for Directors.
- This conversion resulted in the deferral of 1,174 shares of common stock and the receipt of phantom stock shares instead.
- On April 17, 2024, phantom stock units were transacted at a price of $134.96.
- On April 18, 2024, Nally acquired 252.804 phantom stock units at $135.11 and 1,368 restricted stock units that vest on April 16, 2025.
- Following these transactions, Nally beneficially owns 5,803.4009 phantom stock units and 1,368 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and carries a neutral sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common for publicly traded companies like PPG Industries.
Key Dates
| Date | Description |
|---|---|
| 04/20/2023 | Date restricted stock units were granted to the reporting person. |
| 04/17/2024 | Conversion of restricted stock units to phantom stock units. |
| 04/18/2024 | Acquisition of phantom stock units and restricted stock units. |
| 04/16/2025 | Vesting date for restricted stock units acquired on April 18, 2024. |
| 04/19/2024 | Date of Form 4 filing. |
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