Form 4: PPG Industries Senior VP & CFO Vincent J. Morales Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Vincent J. Morales, Senior VP & CFO of PPG Industries, reports acquiring phantom stock units convertible to common stock.
Summary
- On March 15, 2024, Vincent J. Morales, Senior VP & CFO of PPG Industries, reported a transaction involving phantom stock units.
- Morales acquired 8.7792 phantom stock units, which convert to common stock on a one-for-one basis.
- The price of the derivative security was $137.86.
- Following the reported transaction, Morales beneficially owns 17,489.109 phantom stock units.
- These units are held directly and represent interests in an unfunded unitized company stock fund comprised of stock and cash within the PPG Industries, Inc. Deferred Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing regarding stock ownership. There is no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of a company executive's stock-based compensation. It's common for companies to use stock and phantom stock units as part of their compensation packages to align executive interests with shareholder value.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects changes in executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of transaction: Acquisition of phantom stock units |
| 03/18/2024 | Date of report filing |
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