Form 4: PPG Industries Executive Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Kevin D. Braun, a Senior VP at PPG Industries, reported the acquisition of phantom stock units convertible to common stock after termination of employment.
Summary
- On August 30, 2024, Kevin D. Braun, a Senior VP at PPG Industries, acquired 4.606 phantom stock units.
- These units convert to common stock on a one-for-one basis after termination of employment.
- The price of the derivative security is $129.73.
- Following the transaction, Braun beneficially owns 538.2255 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, neither particularly positive nor negative.
Future Outlook
The phantom stock units convert to common stock after termination of employment, indicating a deferred compensation arrangement.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, which is crucial for maintaining market confidence.
Key Dates
| Date | Description |
|---|---|
| 08/30/2024 | Date of transaction: Kevin D. Braun acquired phantom stock units. |
| 09/03/2024 | Date of report filing. |
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