Form 4: PPG Industries Senior VP Reports Acquisition of Phantom Stock Units in Deferred Compensation Plan

Chancey E. Hagerty, Senior Vice President of Automotive Refinish Coatings at PPG Industries, Inc., reported the acquisition of 0.1266 phantom stock units as part of a deferred compensation plan.

Summary

• Chancey E. Hagerty, Sr. VP, Auto. Refinish Ctgs. at PPG Industries, Inc. (PPG), filed a Form 4 statement of changes in beneficial ownership.
• The filing reports the acquisition of 0.1266 Phantom Stock Units on May 30, 2025.
• These phantom stock units are convertible to common stock on a one-for-one basis after the termination of employment with PPG.
• The price of the derivative security (phantom stock unit) at the time of acquisition was $110.8.
• Following this transaction, Mr. Hagerty beneficially owns a total of 1.2558 phantom stock units.
• Phantom stock units represent interests in an unfunded unitized company stock fund, with the number of shares attributed potentially changing based on the fair market value of PPG's common stock and the fund's cash amount.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing disclosing an insider transaction, which typically carries a neutral sentiment unless it involves unusually large or unexpected sales/purchases. The reported transaction is a small acquisition of phantom stock units as part of a compensation plan, indicating a standard compensation event.

Positives

• The acquisition of phantom stock units indicates continued participation of a senior executive in the company's deferred compensation plan.
• Participation in equity-based compensation plans helps align the executive's financial interests with those of the company's shareholders.

Future Outlook

The phantom stock units held by the reporting person will convert to common stock on a one-for-one basis after the termination of employment with PPG. The number of shares attributed to the participant may fluctuate based on the fair market value of PPG's common stock and the amount of cash within the fund.

Management Comments

• "The security converts to common stock on a one-for-one basis."
• "After termination of employment with PPG."
• "Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan."
• "Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash. 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

This SEC Form 4 filing is a routine regulatory disclosure of an insider transaction related to executive compensation. It does not provide information directly related to broader industry trends, competitive dynamics, or market conditions within the coatings or chemical industry. Such filings are standard practice for publicly traded companies to ensure transparency regarding insider holdings and compensation arrangements.

Comparison to Industry Standards

• This document is a standard SEC Form 4 filing, which is a regulatory requirement for insiders to report changes in beneficial ownership.
• The structure and content of this filing adhere to SEC guidelines, which are uniformly applied across all industries for such disclosures.
• As this filing pertains to a routine executive compensation transaction, there are no specific company or project results to compare against industry benchmarks or competitor performance.

Related Party Transactions

• The acquisition of phantom stock units by a senior executive as part of a company-sponsored deferred compensation plan is considered a related party transaction, as it involves a transaction between the company and an insider.

Stakeholder Impact

• Shareholders: Provides transparency regarding executive compensation and insider holdings, aligning executive interests with shareholder value through equity participation.
• Employees: No direct impact on general employees, but relevant for executives participating in similar deferred compensation plans.

Next Steps

• The phantom stock units will convert to common stock upon the reporting person's termination of employment with PPG.

Key Dates

Keywords

PPG Industries, PPG, Chancey E. Hagerty, SEC Form 4, Insider Transaction, Phantom Stock Units, Deferred Compensation, Executive Compensation, Beneficial Ownership