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PPG Industries director was just granted 2,612 restricted shares

John V Faraci, a director of PPG Industries, just received 2,612 restricted shares from the company. The restricted shares don't become available to Faraci until such time as they become vested. Faraci now owns at least 19,492 restricted shares of the company.

Some additional info was provided as follows:

Upon the vesting of restricted stock units on April 20, 2016, which were granted to the reporting person on April 16, 2015, the reporting person deferred the receipt of 1,092 shares of common stock and received instead 1,092 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 1,092 shares of common stock in excha nge for an equal number of 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. Each restricted stock unit represents a contingent right to receive one share of PPG Common Stock. The restricted stock units vest on April 19, 2017. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

PPG Industries director was just granted 2,657 restricted shares - April 22, 2016

PPG Industries director was just granted 2,646 restricted shares - April 22, 2016
Quarterly report [Sections 13 or 15(d)] - April 21, 2016