Short answer
PPG Industries (PPG) filed an 8-K current report with the SEC on April 21, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 5.07 (Submission of Matters to a Vote of Security Holders). $1.5M target MSU awards granted to executives K. Henrik Bergstrom and Kevin Braun.
PPG Industries 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- $1.5M target MSU awards granted to executives K. Henrik Bergstrom and Kevin Braun
- Chairman and CEO Timothy Knavish and retiring CFO Vincent Morales received no MSU awards
- Three-year vesting on May 8, 2029, tied to absolute PPG stock-price performance
- Payout capped at 200%; no payout after stock decline exceeding 25% or failure of 2028 adjusted EPS threshold
- Continued employment required, increasing retention incentives for participating executives
Item 5.07 · Submission of Matters to a Vote of Security Holders
- All 12 director nominees reelected, preserving board continuity through the 2027 annual meeting
- Say-on-pay approved with 175.2M votes for and 11.4M against, supporting executive compensation practices
- PwC auditor appointment ratified with 196.8M votes for and no broker non-votes
- 2026 Omnibus Incentive Plan approved with 180.3M votes for, authorizing continued equity-based compensation
- Independent board chair proposal rejected, with 126.7M votes against versus 59.7M for sustaining the current leadership structure
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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