February 16, 2024 · Form 4 insider transaction
Morales Vincent J bought 1,567.48 shares of PPG Industries, Inc. at $141.91 per share, a transaction worth $222.4K. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 5 days after the transaction.
Upon settlement of the 2021 total shareholder return contingent shares award, the reporting person deferred receipt of 775 shares of common stock and one half of the cash portion of the award, and received instead 1,567.48 phantom stock units pursuant to the PPG Industries, Inc. Deferred Compensation Plan.; 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.