Form 4: PPG Industries Executive Kevin D. Braun Reports Acquisition of Phantom Stock Units

Kevin D. Braun, a Senior VP at PPG Industries, reported the acquisition of phantom stock units convertible to common stock, according to a Form 4 filing with the SEC.

Summary

• Kevin D. Braun, a Senior VP at PPG Industries, filed a Form 4 with the SEC.
• The filing reports the acquisition of 4.4693 phantom stock units on May 31, 2024.
• These units convert to common stock on a one-for-one basis after termination of employment with PPG.
• The price of the derivative security is $131.41.
• Following the transaction, Braun beneficially owns 521.2089 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: The document is a routine regulatory filing, so the sentiment is neutral.

Future Outlook

The number of shares attributed to the reporting person as a Plan participant may change from time to time without the volition of the reporting person depending on the fair market value of the issuer's common stock and the amount of cash in the fund.

Industry Context

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

Stakeholder Impact

• Shareholders are informed about changes in beneficial ownership by a company executive.

Key Dates