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PPG INDUSTRIES INC FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 17, 2014, Michael H. McGarry was appointed Chief Operating Officer of PPG Industries, Inc. (the "Company"), effective August 1, 2014. Mr. McGarry will have executive oversight responsibility for all of the Company's strategic business units and operating regions and the information technology, environment, health and safety, and purchasing functions. On July 17, 2014, the Company issued a press release announcing Mr. McGarry's appointment. A copy of this press release is attached hereto as Exhibit 99.1. In connection with Mr. McGarry's appointment and change in corporate responsibilities, effective August 1, 2014, Mr. McGarry's monthly salary will be increased to $56,250, and he will be eligible for a prorated target cash bonus under the Company's Incentive Compensation Plan of $675,000. On August 1, 2014, Mr. McGarry will receive a grant under the Omnibus Incentive Plan comprised equally of stock options, restricted stock units and total shareholder return contingent shares with an aggregate value of $650,000 at the time of grant. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release of PPG Industries, Inc. dated July 17, 2014. -------------------------------------------------------------------------------- |