Form 4: PPG Industries Executive Anne M. Foulkes Reports Acquisition of Phantom Stock Units

Anne M. Foulkes, Sr. VP and General Counsel of PPG Industries, reports acquiring phantom stock units convertible to common stock.

Summary

• On April 15, 2025, Anne M. Foulkes, Sr. VP and General Counsel of PPG Industries, reported a transaction involving phantom stock units.
• Foulkes acquired 1.3059 phantom stock units at a price of $99.61 each.
• These units convert to common stock on a one-for-one basis after termination of employment with PPG.
• Following the reported transaction, Foulkes holds a total of 486.5998 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.
• The number of shares attributed to Foulkes as a Plan participant may change depending on the fair market value of PPG's common stock and the amount of cash in the fund.

Sentiment

Score: 7

Explanation: The document reflects a routine insider transaction, suggesting confidence in the company's future performance. The acquisition of phantom stock units is a positive sign, but it's a standard practice, hence the moderate sentiment score.

Positives

• The acquisition of phantom stock units aligns the executive's interests with the company's performance.
• The deferred compensation plan provides a long-term incentive for the executive.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Executive compensation packages often include stock options, restricted stock units, or phantom stock units to align management's interests with shareholder value.
• Companies like Sherwin-Williams (SHW) and Axalta Coating Systems (AXTA), which are competitors of PPG Industries, also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates

Keywords

PPG Industries, Anne M. Foulkes, phantom stock units, Form 4, insider trading, executive compensation, deferred compensation plan