Jamie Beggs to succeed PPG (NYSE: PPG) CFO Vince Morales
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
PPG Industries is appointing Jamie A. Beggs as senior vice president and chief financial officer, effective July 6, 2026, succeeding long-time CFO Vincent J. Morales, who will retire the same day after a 41-year career with the company.
Beggs joins from Avient Corporation, where she has served as senior vice president and CFO since 2020, and will also oversee corporate development and information technology while serving on PPG’s executive and operating committees.
Her compensation package includes a base salary of $800,000, a $350,000 signing bonus subject to repayment if she resigns within one year, a one-time RSU grant valued at $3.2 million, and 2026 long-term equity awards valued at $2.5 million, plus relocation benefits.
The filing notes that PPG purchased approximately $524,000 of products from Avient in 2025 and $163,000 in the first quarter of 2026, each less than one percent of either company’s consolidated gross revenues, and highlights PPG’s $15.9 billion in net sales in 2025.
Positive
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CFO base salary: $800,000 per year
CFO signing bonus: $350,000
One-time RSU grant: $3,200,000
+4 more
7 metrics
CFO base salary
$800,000 per year
Base salary for Jamie Beggs as PPG CFO
CFO signing bonus
$350,000
Signing bonus repayable if resignation before first anniversary
One-time RSU grant
$3,200,000
Value of RSUs vesting on third anniversary of grant
2026 long-term equity awards
$2,500,000
Aggregate value of stock options, RSUs and TSR shares for 2026
Purchases from Avient in 2025
$524,000
PPG purchases of products from Avient during 2025
Purchases from Avient Q1 2026
$163,000
PPG purchases of products from Avient in first fiscal quarter 2026
PPG 2025 net sales
$15.9 billion
Company net sales in 2025 across more than 50 countries
Key Terms
2026 Omnibus Incentive Plan, restricted stock units, total shareholder return contingent shares, Incentive Compensation Plan, +1 more
5 terms
2026 Omnibus Incentive Plan financial
"One-time grant under the Company’s 2026 Omnibus Incentive Plan (the “Omnibus Incentive Plan”) of restricted stock units"
restricted stock units financial
"grant under the Company’s 2026 Omnibus Incentive Plan ... of restricted stock units (“RSUs”) with a value of $3,200,000"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Incentive Compensation Plan financial
"a prorated target cash bonus of $800,000 under the Company’s Incentive Compensation Plan"
An incentive compensation plan is a formal program that rewards employees and executives with bonuses, stock, or other payments tied to specific performance goals—such as revenue, profit, productivity, or long‑term share price. Investors watch these plans because they shape how leaders make decisions and take risks; like paying a coach by wins rather than effort, well‑designed plans can drive sustainable growth while poor designs can encourage short‑term behaviors that harm shareholder value.
cliff vesting schedule financial
"The stock options will have a three-year cliff vesting schedule and a ten-year life."
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
| FORM | |||||
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 28, 2026
(Exact Name of Registrant as Specified in Charter) | ||
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices, and Zip Code)
(412 ) 434-3131
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. | |||||||
On April 28, 2026, PPG Industries, Inc. (the “Company”) issued a press release announcing that Jamie A. Beggs will join the Company as Senior Vice President and Chief Financial Officer, effective July 6, 2026 upon the previously reported retirement of Vincent J. Morales which will also be effective July 6, 2026. Ms. Beggs, 49, has served as Senior Vice President and Chief Financial Officer of Avient Corporation since August 2020. Ms. Beggs currently serves on the board of directors of International Paper Company.
The terms of Ms. Beggs’s compensatory arrangement include the following:
•Base salary of $800,000 per year;
•A signing bonus of $350,000, which Ms. Beggs would be required to repay if she voluntarily resigns from PPG before the first anniversary of her start date;
•One-time grant under the Company’s 2026 Omnibus Incentive Plan (the “Omnibus Incentive Plan”) of restricted stock units (“RSUs”) with a value of $3,200,000, which will vest on the third anniversary of the grant date;
•For 2026, a prorated target cash bonus of $800,000 under the Company’s Incentive Compensation Plan, payable in February 2027 and a grant under the Omnibus Incentive Plan of stock options, time-based RSUs, performance-based RSUs and total shareholder return contingent shares (“TSR shares”) with an aggregate value of $2,500,000 at the time of grant. The stock options will have a three-year cliff vesting schedule and a ten-year life. The time-based RSUs, the performance-based RSUs and the TSR shares will have a three-year performance period from 2026-2028; and
•Relocation benefits consistent with the Company’s relocation program for executives.
In 2025, PPG purchased approximately $524,000 of products from Avient Corporation. In the first fiscal quarter of 2026, PPG purchased approximately $163,000 of products from Avient. PPG did not sell any products or services to Avient in 2025 or in the first fiscal quarter of 2026. Such purchases were made in the ordinary course of each company’s business and amount to less than one percent of each company’s consolidated gross revenues for fiscal year 2025 and for the first fiscal quarter of 2026. Ms. Beggs has no family relationships with any director or executive officer of the Company.
A press release reporting the appointment of Ms. Beggs is attached hereto as Exhibit 99.
| Item 9.01 | Financial Statements and Exhibits. | |||||||
(d) Exhibits. The following exhibits are being furnished as part of this Report.
Exhibit Number | Description | |||||||
| 99 | Press release of PPG Industries, Inc. dated April 28, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PPG INDUSTRIES, INC. | ||||||||
| (Registrant) | ||||||||
| Date: April 28, 2026 | By: | /s/ Timothy M. Knavish | ||||||
| Timothy M. Knavish | ||||||||
| Chairman and Chief Executive Officer | ||||||||
Exhibit 99
News
Media Contact:
Greta Edgar Borza
Corporate Communications
+1 724 316 7552
edgar@ppg.com
Investor Contact:
Alex Lopez
Investor Relations
+1 412 434 3466
alejandrolopez@ppg.com
investor.ppg.com
PPG appoints Jamie Beggs as senior vice president and chief financial officer; succeeds Vince Morales
PITTSBURGH, April 28, 2026 — PPG (NYSE:PPG) today announced that its board of directors has elected Jamie A. Beggs to serve as senior vice president and chief financial officer (CFO), effective July 6. Beggs is replacing Vincent J. Morales as CFO, who announced earlier his planned retirement which will also be July 6, following a distinguished 41-year career with PPG. Beggs and Morales will work closely together in the coming months to ensure a successful transition. Beggs will report to Timothy M. Knavish, PPG chairman and chief executive officer, and will join PPG’s executive and operating committees. She will also have executive leadership responsibilities for corporate development and information technology.
Beggs joins PPG with more than 25 years of experience in financial leadership positions in public and private organizations with a focus on specialty materials and diverse end markets. Since 2020, she has served as CFO of Avient Corporation, an innovator of materials solutions. Beggs also currently serves on the board of directors of International Paper.
"We are excited to welcome Jamie to PPG as we drive and accelerate our growth strategy," said Knavish. "She brings proven financial leadership from her prior CFO experiences, deep industry expertise and extensive business leadership. On behalf of the PPG Board of Directors and our senior leadership team, we look forward to drawing on her expertise as we maintain our focus on delivering increased value creation.”
Prior to Avient Corporation, Beggs served as CFO of Hunt Consolidated, Inc., a diversified holding company for businesses in several industries, including oil and gas exploration, refining, liquefied natural gas, power and infrastructure. She also worked for 10 years at Celanese Corporation, where she served in a variety of leadership positions, including corporate vice president and treasurer, and CFO of its Materials Solutions business. She began her career at PricewaterhouseCoopers LLP after earning her bachelor's and master's degrees in accounting from the University of Texas.
“PPG is a company with an incredible legacy and an even more exciting future. I am honored to join such a talented team and look forward to partnering with Tim and the organization to build on the strong momentum underway and capture the significant opportunities ahead,” said Beggs.
PPG: WE PROTECT AND BEAUTIFY THE WORLD®
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty products that our customers have trusted for more than 140 years. Through dedication and creativity, we solve our
customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we market and sell in more than 50 countries and reported net sales of $15.9 billion in 2025. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.
The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.
FAQ
What executive leadership change did PPG (PPG) announce in this 8-K?
PPG announced that Jamie A. Beggs will become senior vice president and chief financial officer on July 6, 2026. She will succeed Vincent J. Morales, who is retiring the same day after a 41-year career with PPG and will support a smooth transition.
What are the key compensation terms for new PPG CFO Jamie Beggs?
Jamie Beggs will receive a base salary of $800,000 and a $350,000 signing bonus. She is also granted $3.2 million in restricted stock units and 2026 long-term equity awards valued at $2.5 million, plus a prorated 2026 cash bonus opportunity and relocation benefits.
How is Jamie Beggs’ one-time equity grant at PPG structured?
Beggs receives a one-time grant of restricted stock units valued at $3.2 million that vests after three years. For 2026, she also receives stock options, time-based RSUs, performance-based RSUs and total shareholder return contingent shares with an aggregate grant-date value of $2.5 million.
Did PPG disclose any business relationships with Avient, Jamie Beggs’ prior employer?
PPG reported purchasing about $524,000 of products from Avient in 2025 and $163,000 in first-quarter 2026. These transactions were in the ordinary course of business and represented less than one percent of each company’s consolidated gross revenues over those periods.
What prior experience does new PPG CFO Jamie Beggs bring to the company?
Beggs has more than 25 years of financial leadership experience, most recently as CFO of Avient Corporation. She previously held senior roles at Hunt Consolidated and Celanese Corporation and began her career at PricewaterhouseCoopers after earning accounting degrees from the University of Texas.
How did PPG describe its recent business scale in connection with this CFO appointment?
PPG highlighted that it reported net sales of $15.9 billion in 2025 across more than 50 countries. The company serves construction, consumer products, industrial and transportation markets and positions the CFO appointment within its broader long-term growth and value creation strategy.