PPG (PPG) director Leon Topalian granted RSUs and converts 1,210 units to phantom stock
Rhea-AI Filing Summary
PPG Industries director Leon J. Topalian reported routine equity compensation and deferral transactions. On April 16, 2026, he received a grant of 1,684 restricted stock units, each representing a contingent right to one share of PPG common stock, scheduled to vest on April 14, 2027.
On April 15, 2026, previously granted restricted stock units covering 1,210 shares vested. Instead of taking common stock, he deferred receipt and converted these into 1,210 phantom stock units under the PPG Industries, Inc. Deferred Compensation Plan for Directors. Following this conversion, he held 1,234.7589 phantom stock units, which represent interests in an unfunded unitized company stock fund and are designed to mirror the value of PPG common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,420 shares exercised/converted
Exercise
3 txns
Insider
Topalian Leon J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 1,684 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 1,210 | $0.00 | $0.00 |
| Exercise | Phantom Stock Units | 1,210 | $107.72 | $130K |
Holdings After Transaction:
Phantom Stock Units — 1,234.7589 shares (Direct);
Restricted Stock Units — 1,684 shares (Direct)
Footnotes (6)
- F1. Upon the vesting of restricted stock units on April 15, 2026, which were granted to the reporting person on July 16, 2025, the reporting person deferred the receipt of 1,210 shares of common stock and received instead 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 1,210 shares of common stock in exchange for shares in phantom stock.
- F2. The security converts to common stock on a one-for-one basis.
- F3. After termination of service as a Director of PPG Industries, Inc.
- F4. 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.
- F5. Each restricted stock unit represents a contingent right to receive one share of PPG common stock.
- F6. The restricted stock units vest on April 14, 2027.
Key Figures
New RSU grant: 1,684 units
Vested RSUs converted: 1,210 units
Phantom stock units total: 1,234.7589 units
+2 more
5 metrics
New RSU grant
1,684 units
Restricted stock units granted on April 16, 2026
Vested RSUs converted
1,210 units
Restricted stock units vested and converted on April 15, 2026
Phantom stock units total
1,234.7589 units
Total phantom stock units held after April 15, 2026 conversion
Phantom unit reference price
$107.72 per unit
Transaction price per phantom stock unit on April 15, 2026
RSU vesting date
April 14, 2027
Scheduled vesting date for 1,684 newly granted RSUs
Key Terms
Restricted Stock Units, Phantom Stock Units, Deferred Compensation Plan for Directors, unfunded unitized company stock fund
4 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of PPG common stock."
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.
Phantom Stock Units financial
"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Deferred Compensation Plan for Directors financial
"received instead shares of phantom stock pursuant to the PPG Industries, Inc. Deferred Compensation Plan for Directors."
A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.
unfunded unitized company stock fund financial
"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did PPG (PPG) director Leon J. Topalian report in this Form 4?
Leon J. Topalian reported routine equity compensation events, including a grant of 1,684 restricted stock units and the conversion of 1,210 vested restricted stock units into phantom stock units under PPG’s Deferred Compensation Plan for Directors.
How many restricted stock units did PPG (PPG) grant to Leon J. Topalian?
PPG granted Leon J. Topalian 1,684 restricted stock units. Each unit represents a contingent right to receive one share of PPG common stock, and this new grant is scheduled to vest on April 14, 2027, subject to continued service as a director.
What happened when Leon J. Topalian’s restricted stock units vested at PPG (PPG)?
When 1,210 restricted stock units vested on April 15, 2026, Leon J. Topalian deferred the shares and instead received phantom stock units. This reflects a conversion into deferred compensation rather than taking immediate delivery of PPG common stock.
What are phantom stock units in the PPG (PPG) Deferred Compensation Plan for Directors?
Phantom stock units in the PPG Deferred Compensation Plan for Directors represent interests in an unfunded unitized company stock fund. Their value tracks PPG common stock and cash in the fund, and they convert into common shares on a one-for-one basis after a director’s service ends.
How many phantom stock units does Leon J. Topalian hold at PPG (PPG) after these transactions?
After the April 15, 2026 conversion, Leon J. Topalian held a total of 1,234.7589 phantom stock units in the Deferred Compensation Plan for Directors, reflecting interests in a stock-and-cash fund tied to the fair market value of PPG common stock.
When will Leon J. Topalian’s new PPG (PPG) restricted stock units vest?
The newly granted 1,684 restricted stock units to Leon J. Topalian are scheduled to vest on April 14, 2027. Upon vesting, each unit provides a contingent right to receive one share of PPG common stock, subject to the plan’s terms.