8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): December 9, 2021

PPG INDUSTRIES, INC.

(Exact Name of Registrant as Specified in Charter)

Pennsylvania	001-1687	25-0730780
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

One PPG Place, Pittsburgh, Pennsylvania, 15272

(Address of Principal Executive Offices, and Zip Code)

(412) 434-3131

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

    ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

    ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

    ☐ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

    ☐ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.66 2/3	PPG	New York Stock Exchange
0.875% Notes due 2022	PPG 22	New York Stock Exchange
0.875% Notes due 2025	PPG 25	New York Stock Exchange
1.400% Notes due 2027	PPG 27	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

    Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		PPG INDUSTRIES, INC.
		(Registrant)
Date: December 15, 2021	By:	/s/ Michael H. McGarry
		Michael H. McGarry
		Chairman and Chief Executive Officer

EX-99

Exhibit 99

News

PPG Media Contact:

Mark Silvey

Corporate Communications

+1-412-434-3046

silvey@ppg.com

PPG Investor Contact:

John Bruno

Investor Relations

+1-412-434-3466

jbruno@ppg.com

investor.ppg.com

PPG appoints Tim Knavish chief operating officer

PITTSBURGH, December 15, 2021 – PPG (NYSE:PPG) today announced the appointment of Tim Knavish, executive vice president, as chief operating officer, effective March 1, 2022.

Knavish will have executive oversight responsibility for all of PPG’s strategic business units and operating regions and for the information technology (IT), environment, health and safety (EH&S), and procurement functions. He will remain based at PPG’s global headquarters in Pittsburgh and will continue to report to Chairman and CEO Michael McGarry.

“Tim’s proven experience and leadership throughout his 35-year career at PPG have been instrumental in driving PPG’s performance as a leading coatings and specialty materials company,” McGarry said. “Tim has worked in virtually all of PPG’s businesses and has made structural improvements in each business that he managed. He also played a key role in the most recent Tikkurila and Ennis-Flint acquisitions. Plus, in his primary role as leader of our global architectural business, Tim is delivering further global collaboration, leading the adoption of new digital processes and delivering improved financial performance. In this new role, Tim’s broad operational expertise, global experience and demonstrated ability to lead our business strategies will play a key role in our continued focus to drive growth and deliver increased shareholder value.”

Since 2019, Knavish has served in his current role as executive vice president, where he has been responsible for the global architectural coatings businesses, excluding the Latin America business which was added to his responsibilities this year; the global automotive refinish business; the Latin America region; and the digital and information technology functions.

Knavish joined PPG in flat glass engineering in 1987 at PPG’s global headquarters in Pittsburgh. He then advanced through roles of increasing responsibility in PPG’s flat glass and former automotive glass businesses before joining the architectural coatings business in 2000, as plant manager for the East Point, Georgia, manufacturing facility.

In 2002, Knavish returned to Pittsburgh as director, supply chain, for the former automotive replacement glass business, and in 2004, he became global director, manufacturing and supply chain, for the automotive refinish coatings business. He moved to Australia in 2005 as managing director, Australia and New Zealand coatings, and general manager, automotive refinish. In 2007, Knavish assumed responsibility in Troy, Michigan, as general manager, automotive coatings, Americas, and in early 2010, he was named a vice president with the same scope of

responsibility. He relocated to Pittsburgh in 2012 as global vice president, protective and marine coatings, and he returned to Troy in March 2016 as senior vice president, automotive coatings.

Knavish returned to Pittsburgh in October 2017 as senior vice president, industrial coatings. In addition to global leadership of PPG’s industrial coatings, packaging coatings and coatings services businesses, Knavish was responsible for the global supply management function and for PPG’s Asia Pacific region. In January 2019, he was appointed senior vice president, architectural coatings and president, PPG EMEA, before being named executive vice president in October 2019.

A native of Pittsburgh, Knavish earned both a bachelor’s degree in mechanical engineering and an M.B.A. from the University of Pittsburgh. He currently serves on the board of directors of the United Way of Southwestern Pennsylvania.

PPG: WE PROTECT AND BEAUTIFY THE WORLD™

At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 75 countries and reported net sales of $13.8 billion in 2020. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit www.ppg.com.

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.

XML

Cover	Dec. 09, 2021
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Dec. 09, 2021
Entity Registrant Name	PPG INDUSTRIES, INC.
Entity Incorporation, State or Country Code	PA
Entity File Number	001-1687
Entity Tax Identification Number	25-0730780
Entity Address, Address Line One	One PPG Place
Entity Address, City or Town	Pittsburgh
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15272
City Area Code	412
Local Phone Number	434-3131
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000079879
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $1.66 2/3
Trading Symbol	PPG
Security Exchange Name	NYSE
0.875% Notes due 2022
Entity Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2022
Trading Symbol	PPG 22
Security Exchange Name	NYSE
0.875% Notes due 2025
Entity Information [Line Items]
Title of 12(b) Security	0.875% Notes due 2025
Trading Symbol	PPG 25
Security Exchange Name	NYSE
1.400% Notes due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.400% Notes due 2027
Trading Symbol	PPG 27
Security Exchange Name	NYSE