What is the significance of Kevin D. Braun receiving 1.6612 phantom stock units at a reference price of $107.72 each, and how does this award fit into PPG's compensation structure?

Kevin D. Braun, PPG Industries' Senior VP of Operations, was granted 1.6612 phantom stock units at a reference price of $107.72 each as part of the company's Deferred Compensation Plan; these units are unfunded, unitized interests in a company stock fund and will convert one-for-one into shares of PPG common stock upon his termination of employment, increasing his total phantom stock holdings to 863.5741 units.

How do phantom stock units awarded to Kevin D. Braun under PPG's Deferred Compensation Plan differ from actual stock grants?

The phantom stock units awarded to Kevin D. Braun are not actual shares but represent an unfunded, unitized interest in a company stock fund tied to PPG common stock; they convert into actual shares one-for-one only upon termination of employment, unlike direct stock grants which typically convey immediate or time-vested ownership rights and may include dividend equivalents or voting rights.