SEC Form 4 · accession 0001209191-17-027804
PPG INDUSTRIES INC · PPG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hugh Grant
Director
Period of report
Apr 19, 2017
Accepted (ET)
Apr 21, 2017 · 1:22 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000079879
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1 | — | Apr 19, 2017 | M | 1,214 | D | — | — | Common Stock | 1,214 | 0 | D |
| Phantom Stock UnitsF2,F3 | — | Apr 19, 2017 | M | 1,214 | A | — | — | Common Stock | 1,214 | 61,444 | D |
| Restricted Stock UnitsF4,F5 | — | Apr 20, 2017 | A | 1,274 | A | — | — | Common Stock | 1,274 | 1,274 | D |
| Phantom Stock UnitsF6,F2,F3 | — | Apr 20, 2017 | A | 364 | A | — | — | Common Stock | 364 | 61,808 | D |
Explanation of responses
- F1Upon the vesting of restricted stock units on April 19, 2017, which were granted to the reporting person on April 21, 2016, the reporting person deferred the receipt of 1,214 shares of common stock and received instead 1,214 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 1,214 shares of common stock in exchange for an equal number of shares in phantom stock.
- F2The security converts to common stock on a one-for-one basis.
- F3After termination of service as a Director of PPG Industries, Inc.
- F4Each restricted stock unit represents a contingent right to receive one share of PPG Common Stock.
- F5The restricted stock units vest on April 18, 2018.
- F6Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors.