NOVO GUILLERMO 4
4 · PPG INDUSTRIES INC · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
PPG Director Guillermo Novo Receives Phantom Stock Award
What Happened
Guillermo Novo, a director of PPG Industries (PPG), was granted 24.589 phantom stock units on 2026-06-12 (transaction code A). The units were valued at $119.34 each, for a total reported value of $2,934. This was a derivative award (phantom stock), not an open-market purchase.
Key Details
- Transaction date: 2026-06-12; Filing date: 2026-06-15.
- Award: 24.589 phantom stock units at $119.34 per unit; total reported value $2,934.
- Security type: Derivative phantom stock units that convert to common stock on a one-for-one basis (footnote F1).
- Conversion/vesting note: Footnotes indicate conversion to common stock is one-for-one and is tied to director service/termination conditions (F2, F3).
- Shares owned after transaction: Not specified in the filing.
- This is a compensatory director award (routine), not a market purchase or sale.
Context
Phantom stock units are a form of deferred compensation that track the value of company shares; they are typically paid out in stock and/or cash according to plan rules and do not reflect an immediate cash outflow or open-market activity. For retail investors, such awards are routine director compensation and should be viewed differently than outright purchases or sales by insiders.
Insider Transaction Report
- Award
Phantom Stock Units
[F1][F2][F3]2026-06-12$119.34/sh+24.589$2,934→ 13,180.519 total→ Common Stock (24.589 underlying)
Footnotes (3)
- [F1]The security converts to common stock on a one-for-one basis.
- [F2]After termination of service as a Director of PPG Industries, Inc.
- [F3]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.