Topalian Leon J 4
4 · PPG INDUSTRIES INC · Filed Apr 17, 2026
Research Summary
AI-generated summary of this filing
PPG (PPG) Director Leon J. Topalian Converts RSUs, Receives Phantom Stock
What Happened
Leon J. Topalian, a director of PPG Industries (PPG), elected to defer 1,210 restricted stock units (RSUs) that vested on April 15, 2026 and received 1,210 phantom stock units instead (reported as a conversion). The phantom units are reported at $107.72 each, totaling $130,341. On April 16, 2026 he was also granted 1,684 additional RSUs (an award), which are contingent rights to common stock that vest on April 14, 2027.
Key Details
- Transactions reported: April 15–16, 2026; filing date April 17, 2026 (filed timely).
- April 15, 2026: 1,210 RSUs deferred/converted to phantom stock — reported acquisition value $107.72/share; total $130,341.
- April 15, 2026: corresponding reporting entry shows the original vested RSUs as disposed (deferred) — administrative conversion, not an open‑market sale.
- April 16, 2026: grant of 1,684 RSUs (award) at $0.00 (these RSUs vest 4/14/2027).
- Shares owned after the transactions: not specified in the provided excerpt of the filing.
- Footnotes: conversion occurred under PPG’s Deferred Compensation Plan for Directors; phantom units are unitized interests in a fund of PPG stock/cash and convert one‑for‑one to common stock (subject to plan terms).
Context
- This was not an open‑market buy or sale — Topalian deferred vested RSUs into phantom stock (a common director deferral) and received a new RSU grant.
- Phantom stock units track the value of PPG shares but are part of an unfunded deferred compensation plan and may change in number/value with the fund’s holdings.
- RSU grants are contingent and vest on the stated date; they do not necessarily indicate immediate stock purchases or sales.
Insider Transaction Report
Form 4
Topalian Leon J
Director
Transactions
- Exercise/Conversion
Restricted Stock Units
[F1]2026-04-15−1,210→ 0 total→ Common Stock (1,210 underlying) - Exercise/Conversion
Phantom Stock Units
[F2][F3][F4]2026-04-15$107.72/sh+1,210$130,341→ 1,234.759 total→ Common Stock (1,210 underlying) - Award
Restricted Stock Units
[F5][F6]2026-04-16+1,684→ 1,684 total→ Common Stock (1,684 underlying)
Footnotes (6)
- [F1]Upon the vesting of restricted stock units on April 15, 2026, which were granted to the reporting person on July 16, 2025, the reporting person deferred the receipt of 1,210 shares of common stock and received instead shares of phantom stock pursuant to the PPG Industries, Inc. Deferred Compensation Plan for Directors. As a result, the reporting person is reporting the conversion of restricted stock units relating to 1,210 shares of common stock in exchange for shares in phantom stock.
- [F2]The security converts to common stock on a one-for-one basis.
- [F3]After termination of service as a Director of PPG Industries, Inc.
- [F4]Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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.
- [F5]Each restricted stock unit represents a contingent right to receive one share of PPG common stock.
- [F6]The restricted stock units vest on April 14, 2027.
Signature
/s/ Greg E. Gordon, Attorney-in-Fact for Leon J. Topalian|2026-04-17