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Five operating segments—magnetic sensors, automotive mold texturing, aerospace metal forming, scientific refrigeration, and specialty hydraulics—make Standex International’s disclosures dense. The annual report alone blends product liability risks in Electronics with tooling demand swings in Engraving. If you’ve ever searched “Standex International annual report 10-K simplified” or tried piecing together segment data manually, you know the challenge.
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Form 4 overview: Director Guillermo Novo reported the acquisition of 329.5435 phantom stock units of PPG Industries, Inc. (ticker: PPG) on 07 / 01 / 2025. Phantom stock units are deferred-compensation derivatives that convert to common shares on a one-for-one basis after the director leaves the board. Following the transaction, Novo now beneficially owns 9,904.2202 phantom stock units within PPG’s Deferred Compensation Plan for Directors.
The transaction was coded “A,” indicating an acquisition rather than a sale, and was effected at a reference price of $116.41 per underlying share. Ownership remains direct (D); no indirect holdings were reported. The filing contains no open-market purchases or sales of PPG common stock and no changes to executive roles or company strategy.
Because phantom units are non-tradable, unfunded, and settled only upon board departure, the event is largely administrative and has negligible impact on public float, cash flow, or near-term earnings. It does, however, signal continued alignment of the director’s economic interests with long-term shareholder value.