Form 4: PPG Industries Senior VP Acquires Phantom Stock Units
SEC Form 4 Filing
Vincent J. Morales, Senior VP & CFO of PPG Industries, reports acquisition of phantom stock units convertible to common stock.
Summary
- Vincent J. Morales, Senior VP & CFO of PPG Industries, filed a Form 4.
- The filing reports the acquisition of phantom stock units convertible to common stock on a one-for-one basis.
- The transaction occurred on September 12, 2024.
- Morales acquired 101.3658 phantom stock units at a price of $125.49.
- Following the transaction, Morales beneficially owns 17,798.3905 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, indicating a neutral sentiment.
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 company insiders to report changes in their beneficial ownership of company securities, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider ownership.
Key Dates
| Date | Description |
|---|---|
| 09/12/2024 | Date of transaction: Acquisition of phantom stock units |
| 09/13/2024 | Date of Form 4 filing |
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