secwatch.observer — SEC 8-K summary
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Issuer:     PPG INDUSTRIES INC (PPG)
CIK:        0000079879
Form:       8-K
Filed at:   2022-10-19T23:59:59+00:00
Accession:  0000079879-22-000072
Event type: leadership
Sentiment:  neutral
Materiality: 0.90
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO succession at PPG: Knavish to become CEO Jan 1, 2023; McGarry Executive Chairman then retiring Oct 1, 2023
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- Tim Knavish elected President and CEO effective Jan 1, 2023; joins Board Oct 20, 2022.
- Michael McGarry named Executive Chairman Jan 1, 2023; plans to retire Oct 1, 2023.
- Knavish salary set at $1.2M, target bonus $1.74M, equity grant worth $7.5M.
- McGarry to receive time-based RSUs valued at $5M, vesting on/after July 1, 2023 retirement.
- Knavish previously COO since March 2022; McGarry CEO since Sept 2015.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/79879/000007987922000072/0000079879-22-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/79879/000007987922000072/ppg-20221019.htm
  HTML page:      https://secwatch.observer/filing/0000079879-22-000072

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer