Form 4: PPG Industries Senior VP & CFO Reports Acquisition of Phantom Stock Units
SEC Filing Form 4
Vincent J. Morales, Senior VP & CFO of PPG Industries, reports acquiring phantom stock units convertible to common stock after termination of employment.
Summary
- Vincent J. Morales, the Senior VP & CFO of PPG Industries, filed a Form 4 indicating a transaction involving derivative securities.
- On September 13, 2024, Morales acquired 16.0201 phantom stock units.
- 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 $126.98.
- Following the reported transaction, Morales beneficially owns 17,814.4106 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.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's securities, ensuring transparency and compliance with SEC regulations.
Key Dates
| Date | Description |
|---|---|
| 09/13/2024 | Date of transaction: Acquisition of phantom stock units |
| 09/16/2024 | Date of signature for the report |
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