PPG Industries Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$PPG
Paints/Coatings
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
| FORM | |||||
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 17, 2025
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(412 ) 434-3131
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 17, 2025, the Board of Directors of PPG Industries, Inc. (the “Company”) elected Leon J. Topalian as a director of the Company, effective July 16, 2025. Mr. Topalian will serve in the class of directors whose term expires at the 2026 Annual Meeting of Shareholders. The Board of Directors appointed Mr. Topalian to the Audit Committee and the Sustainability and Innovation Committee of the Board of Directors.
As an independent director of the Company, Mr. Topalian will be entitled to receive compensation consistent with that of the Company’s other independent directors who are not employees of the Company, as described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 6, 2025 under the caption “Compensation of Directors,” which portion of such proxy statement is incorporated herein by reference.
Mr. Topalian is Chair, President and Chief Executive Officer of Nucor Corporation. In 2024, PPG sold approximately $3,167,000 of products and services to Nucor and PPG purchased approximately $1,288,000 of products and services from Nucor. In the first fiscal quarter of 2025, PPG sold approximately $917,000 of products and services to Nucor and PPG purchased approximately $246,000 of products and services from Nucor. Such purchases were made in the ordinary course of each company’s business and amount to less than one percent of each company’s consolidated gross revenues for fiscal year 2024 and for the first fiscal quarter of 2025.
Mr. Topalian was not selected as a director of the Company pursuant to any arrangement or understanding between Mr. Topalian and any other person or entity.
A press release reporting the election of Mr. Topalian as a director of the Company is attached hereto as Exhibit 99 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number | Description | |||||||
99 | ||||||||
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: April 21, 2025 /s/ Timothy M. Knavish
Timothy M. Knavish
Chairman and Chief Executive Officer