Topalian Leon J 4
4 · PPG INDUSTRIES INC · Filed Jun 15, 2026
Research Summary
AI-generated summary of this filing
PPG Director Leon J. Topalian Receives 16 Phantom Stock Units
What Happened
Leon J. Topalian, a director of PPG Industries, was granted 16.083 phantom stock units (derivative award) on 2026-06-12. The units were valued at $119.34 each, for a total reported value of about $1,919. This was an award/grant (not an open-market purchase or sale) as part of director compensation.
Key Details
- Transaction date and type: 2026-06-12 — Code A (award/grant); derivative award (phantom stock units).
- Price/value: 16.083 units × $119.34 = ~$1,919.
- Shares owned after transaction: Not disclosed in this Form 4.
- Notable footnotes:
- F1: Units convert to common stock on a one-for-one basis.
- F2: Settlement/conversion relates to termination of director service (i.e., paid after termination).
- F3: Units are phantom stock units in the PPG Deferred Compensation Plan for Directors, representing interests in an unfunded unitized stock/cash fund; unit counts/value can change with the fair market value and cash in the fund.
- Filing timeliness: Form 4 filed 2026-06-15 for a 2026-06-12 transaction — filed within the required two business days (timely).
Context
Phantom stock units are derivative awards that track company stock value but are not immediately tradable shares; they typically convert to shares or cash later (here, tied to deferred compensation and settlement after director service ends). Such grants are routine director compensation and do not by themselves indicate the insider’s personal buying or selling sentiment.
Insider Transaction Report
- Award
Phantom Stock Units
[F1][F2][F3]2026-06-12$119.34/sh+16.083$1,919→ 1,250.842 total→ Common Stock (16.083 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.