NOVO GUILLERMO 4
4 · PPG INDUSTRIES INC · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
PPG Director Guillermo Novo Receives 323.953 Phantom Stock Units
What Happened
Guillermo Novo, a director of PPG Industries (PPG), was credited with 323.953 phantom stock units (reported as an acquisition/award, code A) on July 1, 2026. The units were valued at $122.61 each for a total reported value of $39,720. This was a derivative award under PPG’s Deferred Compensation Plan for Directors, not an open-market purchase of common stock.
Key Details
- Transaction date and reporting: July 1, 2026; filing dated July 2, 2026 (appears timely).
- Instrument and amount: 323.953 phantom stock units at $122.61 per unit (total ~$39,720); transaction code A (award/grant).
- Shares owned after the transaction: Not specified in the filing.
- Footnotes:
- F1: Units convert to common stock on a one-for-one basis.
- F2: Conversion/payability occurs after termination of service as a director.
- F3: These are phantom stock units in the PPG Deferred Compensation Plan for Directors (an unfunded, unitized stock/cash fund whose unit count/value may change with PPG’s stock price and cash in the fund).
- Nature of transaction: Derivative award (phantom units), not immediate common-stock ownership.
Context
Phantom stock units are a deferred-compensation vehicle that tracks the value of company stock and may convert to actual shares (or cash equivalent) later, often after a director leaves service. Because this is an award under the director deferred compensation plan and not an open-market purchase or sale, it should not be read as a direct buy/sell signal by the director.
Insider Transaction Report
- Award
Phantom Stock Units
[F1][F2][F3]2026-07-01$122.61/sh+323.953$39,720→ 13,504.471 total→ Common Stock (323.953 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.