Form 4: PPG Industries Senior VP & CFO Acquires Phantom Stock Units
SEC Form 4 Filing
Vincent J. Morales, Senior VP & CFO of PPG Industries, acquired 14.6141 phantom stock units on November 29, 2024, convertible to common stock after termination of employment.
Summary
- Vincent J. Morales, Senior VP & CFO of PPG Industries, acquired 14.6141 phantom stock units on November 29, 2024.
- These phantom stock units convert to common stock on a one-for-one basis after termination of employment with PPG.
- The price of the phantom stock units was $124.37 per unit.
- Following the transaction, Mr. Morales holds a total of 17,920.9029 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.
- The number of shares attributed to Mr. Morales may change based 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 transaction related to executive compensation, which is generally neutral to positive. It indicates alignment of management interests with shareholders.
Future Outlook
The phantom stock units will convert to common stock after Mr. Morales' termination of employment with PPG.
Industry Context
This is a routine filing related to executive compensation and is common practice for publicly traded companies.
Comparison to Industry Standards
- Many publicly traded companies use phantom stock units as part of their executive compensation packages.
- The vesting and conversion terms are typical for such arrangements, often tied to employment termination or retirement.
- Companies like Sherwin-Williams and Axalta also use similar compensation methods for their executives.
Stakeholder Impact
- The transaction aligns management's interests with shareholders through equity-based compensation.
- The acquisition of phantom stock units does not have an immediate impact on the company's financials or operations.
Key Dates
| Date | Description |
|---|---|
| 11/29/2024 | Date of the phantom stock unit acquisition. |
| 12/02/2024 | Date the Form 4 was signed. |
Keywords
PPG Industries, phantom stock units, insider trading, executive compensation, deferred compensation, Vincent J. Morales, Form 4
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