Form 4: PPG Industries Senior VP & CFO Vincent J. Morales Reports Acquisition of Phantom Stock Units

Vincent J. Morales, Senior VP & CFO of PPG Industries, reports acquiring phantom stock units convertible to common stock after termination of employment.

Summary

• On April 15, 2024, Vincent J. Morales, Senior VP & CFO of PPG Industries, reported acquiring phantom stock units.
• The transaction involved 16.5221 phantom stock units at a price of $135.02 each.
• These units convert to common stock on a one-for-one basis after termination of employment with PPG.
• Following the reported transaction, Morales beneficially owns 17,495.2243 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 neutral regulatory filing. It doesn't convey any explicit positive or negative sentiment, simply reporting a transaction.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates an acquisition of phantom stock units, which are often part of executive compensation packages.

Stakeholder Impact

• The acquisition of phantom stock units by a company executive can be seen as a positive sign by shareholders, aligning management's interests with those of the shareholders.

Key Dates