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PPG INDUSTRIES INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

12/15/2021 | 08:54am EDT
Item 5.02              Departure of Directors or Certain Officers; Election 

of Directors;

                       Appointment of Certain Officers; Compensatory 

Arrangements of Certain


On December 9, 2021, Timothy M. Knavish was appointed Chief Operating Officer of
PPG Industries, Inc. (the "Company") effective March 1, 2022. Mr. Knavish will
have executive oversight responsibility for all of the Company's strategic
business units and operating regions and for the information technology,
environment, health and safety, and procurement functions. On December 15, 2021,
the Company issued a press release announcing Mr. Knavish's appointment. A copy
of this press release is attached hereto as Exhibit 99 and incorporated herein
by reference.

In connection with Mr. Knavish's appointment and change in corporate
responsibilities, effective March 1, 2022, Mr. Knavish's monthly salary will be
increased to $75,000, and he will be eligible for a prorated target cash bonus
under the Company's Incentive Compensation Plan of $990,000. On February 16,
2022, Mr. Knavish will receive a grant under the Amended and Restated Omnibus
Incentive Plan comprised equally of stock options, restricted stock units and
total shareholder return contingent shares with an aggregate value of $2,800,000
at the time of the grant.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
Exhibit Number             Description
99                           Press release of PPG Industries, Inc. dated December 15, 2021
104                        Cover Page Interactive Data File (embedded

within the Inline XBRL document).


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