PPG (PPG) director defers vested shares into phantom units, gains new RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PPG Industries director Kathy Lynn Fortmann reported equity-related compensation transactions, not open-market trading. On April 15, 2026, 1,849 restricted stock units vested and were converted into 1,849 phantom stock units under PPG’s Deferred Compensation Plan for Directors, instead of receiving common shares directly.
On April 16, 2026, she received an additional grant of 312.0542 phantom stock units valued at $112.16 per unit and 1,684 new restricted stock units, each representing a contingent right to one share of PPG common stock. After these awards, she held 5,369.3187 phantom stock units in the plan and 1,684 restricted stock units.
Positive
- None.
Negative
- None.
Insights
Director received routine stock-based compensation and deferred vested shares into phantom units.
Director Kathy Lynn Fortmann did not buy or sell stock on the market. Instead, she had 1,849 restricted stock units vest and chose to defer them into phantom stock units within PPG’s Deferred Compensation Plan for Directors, maintaining economic exposure without taking direct shares.
She also received new grants of 312.0542 phantom stock units, valued at $112.16 per unit, and 1,684 restricted stock units that vest on April 14, 2027. These are standard board compensation mechanisms and do not change cash holdings; they increase her long-term equity-linked interests in PPG.
Insider Trade Summary
3,698 shares exercised/converted
Mixed
4 txns
Insider
Fortmann Kathy Lynn
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 312.054 | $112.16 | $35K |
| Grant/Award | Restricted Stock Units | 1,684 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,849 | $0.00 | -- |
| Exercise | Phantom Stock Units | 1,849 | $107.72 | $199K |
Holdings After Transaction:
Phantom Stock Units — 5,369.319 shares (Direct);
Restricted Stock Units — 1,684 shares (Direct)
Footnotes (1)
- Upon the vesting of restricted stock units on April 15, 2026, which were granted to the reporting person on April 17, 2025, the reporting person deferred the receipt of 1,849 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 1,849 shares of common stock in exchange for shares in phantom stock. The security converts to common stock on a one-for-one basis. After termination of service as a Director of PPG Industries, Inc. 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. Each restricted stock unit represents a contingent right to receive one share of PPG common stock. The restricted stock units vest on April 14, 2027.
Key Figures
Phantom stock grant: 312.0542 units at $112.16
New RSU grant: 1,684 units
RSUs converted: 1,849 units
+3 more
6 metrics
Phantom stock grant
312.0542 units at $112.16
New phantom stock units granted on April 16, 2026
New RSU grant
1,684 units
Restricted stock units granted on April 16, 2026
RSUs converted
1,849 units
Restricted stock units vested and converted on April 15, 2026
Phantom units after conversion
5,057.2645 units
Total phantom stock units after April 15, 2026 conversion
Phantom units after all grants
5,369.3187 units
Total phantom stock units following April 16, 2026 grant
RSUs outstanding after grant
1,684 units
Restricted stock units held after April 16, 2026 grant
Key Terms
Phantom Stock Units, Deferred Compensation Plan for Directors, Restricted Stock Units, contingent right, +1 more
5 terms
Phantom Stock Units financial
"Phantom stock units represent interests in an unfunded unitized company stock fund"
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.
Restricted Stock Units financial
"Upon the vesting of restricted stock units on April 15, 2026"
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.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share"
unfunded unitized company stock fund financial
"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash"
FAQ
What did PPG (PPG) director Kathy Lynn Fortmann report in this Form 4?
She reported equity compensation-related activity, not market trades. 1,849 vested restricted stock units were converted into phantom stock units, and she received new grants of 312.0542 phantom stock units and 1,684 restricted stock units tied to PPG common stock.
How many phantom stock units does the PPG (PPG) director now hold?
After the reported transactions, she holds 5,369.3187 phantom stock units in PPG’s Deferred Compensation Plan for Directors. These units track the value of PPG common stock and cash in an unfunded unitized company stock fund within the plan.
What new equity awards did PPG (PPG) grant to director Kathy Lynn Fortmann?
She received 312.0542 phantom stock units valued at $112.16 per unit and 1,684 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of PPG common stock, subject to vesting conditions specified in the award terms.
When do the newly granted PPG (PPG) restricted stock units vest?
The newly granted restricted stock units vest on April 14, 2027. Until vesting, they represent a contingent right to receive PPG common shares, aligning the director’s compensation with long-term company performance and continued board service requirements.
What is the PPG (PPG) Deferred Compensation Plan for Directors mentioned in the filing?
It is a plan allowing directors to defer compensation into phantom stock units. These units represent interests in an unfunded unitized company stock fund of PPG stock and cash, with the attributed unit count changing as PPG’s share price and fund cash balance fluctuate.