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Pay vs Performance Disclosure
12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
$ / shares
Dec. 31, 2021
USD ($)
$ / shares
Dec. 31, 2020
USD ($)
$ / shares
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

COMPANY

 

AVERAGE

 

AVERAGE

 

 

SELECTED

SUMMARY

COMP.

VALUE OF INITIAL FIXED $100

MEASURE:

COMP. TABLE

ACTUALLY PAID

INVESTMENT BASED ON:

ADJUSTED

SUMMARY

COMP.

TOTAL FOR

TO NON-PEO

PEER GROUP(3)

EARNINGS

COMP. TABLE

ACTUALLY

NON-PEO NAMED

NAMED

TOTAL

TOTAL

NET

PER

TOTAL FOR

PAID TO

EXECUTIVE

EXECUTIVE

SHAREHOLDER

SHAREHOLDER

INCOME

DILUTED

YEAR

  

PEO(1)

  

PEO(1)

  

OFFICERS(2)

  

OFFICERS(2)

  

RETURN

  

RETURN

  

(in millions)

  

SHARE

2023

$

12,472,955

$

15,222,098

$

4,903,304

$

6,491,421

$

120

$

120

$

1,270

$

7.50

2022

$

8,867,377

$

238,659

$

2,280,483

$

(26,911)

$

99

$

101

$

1,028

 

$

6.22

2021

$

13,199,616

$

22,568,453

$

3,035,088

$

5,267,224

$

133

$

135

$

1,420

 

$

6.77

2020

$

15,903,993

$

16,689,353

$

3,607,399

$

3,526,539

$

110

$

112

$

1,056

 

$

6.12

(1)The principal executive officer was Mr. McGarry for years 2020-2022 and the principal executive officer for 2023 was Mr. Knavish.
(2)The non-principal executive officer named executive officers were Mr. Morales, Mr. Knavish, Ms. Liebert and Ms. Foulkes for years 2020-2022. For 2023 the non-principal executive officer named executive officers were Mr. McGarry, Mr. Morales, Ms. Foulkes and Mr. Vadlamannati. Ms. Ericson was included as a non-principal executive officer named executive officer for 2023.
(3)The peer group consists of: 3M Co., Akzo Nobel N.V., Axalta Coatings Systems Ltd., Dow, Inc., Dupont de Nemours, Inc., Eastman Chemical Co., Masco Corp., RPM International Inc., and The Sherwin-Williams Co. See Exhibit 13.1 of our Form 10-K for the year ended December 31, 2023.
     
Company Selected Measure Name Adjusted earnings per diluted share      
Named Executive Officers, Footnote
(1)The principal executive officer was Mr. McGarry for years 2020-2022 and the principal executive officer for 2023 was Mr. Knavish.
(2)The non-principal executive officer named executive officers were Mr. Morales, Mr. Knavish, Ms. Liebert and Ms. Foulkes for years 2020-2022. For 2023 the non-principal executive officer named executive officers were Mr. McGarry, Mr. Morales, Ms. Foulkes and Mr. Vadlamannati. Ms. Ericson was included as a non-principal executive officer named executive officer for 2023.
     
Peer Group Issuers, Footnote
(3)The peer group consists of: 3M Co., Akzo Nobel N.V., Axalta Coatings Systems Ltd., Dow, Inc., Dupont de Nemours, Inc., Eastman Chemical Co., Masco Corp., RPM International Inc., and The Sherwin-Williams Co. See Exhibit 13.1 of our Form 10-K for the year ended December 31, 2023.
     
PEO Total Compensation Amount $ 12,472,955 $ 8,867,377 $ 13,199,616 $ 15,903,993
PEO Actually Paid Compensation Amount $ 15,222,098 238,659 22,568,453 16,689,353
Adjustment To PEO Compensation, Footnote

A reconciliation of PEO SCT total compensation to CAP is provided in the following table.

PEO SCT Total Compensation to CAP Reconciliation (2020-2023)

PLUS CHANGE

FROM BOY TO

PLUS CHANGE

PLUS EOY

EOY IN FAIR

 IN FAIR VALUE 

FAIR VALUE

VALUE OF

FROM BOY TO 

OF EQUITY

AWARDS

VESTING DATE

AWARDS

GRANTED IN

 OF AWARDS

GRANTED

ANY PRIOR

 GRANTED IN

PLUS

DURING YEAR

YEAR

 ANY PRIOR

MINUS SCT

PENSION

THAT ARE

THAT ARE

YEAR THAT

SCT

CHANGE IN

 VALUE

OUTSTANDING

OUTSTANDING

VESTED

TOTAL FOR

PENSION

SERVICE

MINUS SCT

AND UNVESTED

AND UNVESTED

 DURING

PEO

YEAR

PEO

VALUE

 COST

EQUITY

AT EOY

AT EOY

THE YEAR

 

CAP

2023

$

12,472,955

$

(312,592)

$

$

(7,499,749)

$

9,111,166

$

744,589

$

705,729

$

15,222,098

2022

$

8,867,377

$

4,368,862

$

$

(10,000,026)

$

7,834,096

$

(4,197,554)

$

(6,634,096)

 

$

238,659

2021

$

13,199,616

$

218,598

$

$

(9,400,002)

$

10,917,328

$

4,275,913

$

3,357,000

 

$

22,568,453

2020

$

15,903,993

$

(4,289,632)

$

180,279

$

(8,249,709)

$

11,073,569

$

1,559,781

$

511,072

 

$

16,689,353

"EOY" = end of Year; "BOY" = Beginning of Year

     
Non-PEO NEO Average Total Compensation Amount $ 4,903,304 2,280,483 3,035,088 3,607,399
Non-PEO NEO Average Compensation Actually Paid Amount $ 6,491,421 (26,911) 5,267,224 3,526,539
Adjustment to Non-PEO NEO Compensation Footnote

A reconciliation of average non-PEO SCT total compensation to CAP is provided in the following table.

Average Non-PEO NEOs SCT Total Compensation to CAP Reconciliation (2020-2023)

PLUS CHANGE

FROM BOY TO

PLUS CHANGE

MINUS FAIR

PLUS EOY

EOY IN FAIR

 IN FAIR VALUE 

VALUE AT

 

FAIR VALUE

VALUE OF

FROM BOY TO 

BOY OF

 

OF EQUITY

AWARDS

VESTING DATE

AWARDS

 

AWARDS

GRANTED IN

 OF AWARDS

GRANTED

 

GRANTED

ANY PRIOR

 GRANTED IN

IN PRIOR

 

PLUS

DURING YEAR

YEAR

 ANY PRIOR

YEAR THAT

 

SCT

MINUS SCT

PENSION

THAT ARE

THAT ARE

YEAR THAT

WERE

 

TOTAL FOR

CHANGE IN

VALUE

OUTSTANDING

OUTSTANDING

VESTED

FORFEITED

NON-PEO

NON-PEO

PENSION

SERVICE

MINUS SCT

AND UNVESTED

AND UNVESTED

 DURING

DURING

NEOs

YEAR

NEOs

VALUE

COST

EQUITY

AT EOY

AT EOY

THE YEAR

 

 THE YEAR

CAP

2023

$

4,903,304

$

(245,779)

$

$

(2,279,917)

$

2,546,287

$

753,488

$

814,038

$

$

6,491,421

2022

$

2,280,483

$

846,793

$

$

(1,970,003)

$

1,253,448

$

(546,994)

$

(815,908)

$

(1,074,730)

 

$

(26,911)

2021

$

3,035,088

$

105,473

$

$

(1,724,948)

$

2,003,403

$

1,388,365

$

459,843

$

 

$

5,267,224

2020

$

3,607,399

$

(995,665)

$

117,478

$

(1,399,950)

$

1,879,152

$

201,719

$

116,406

$

 

$

3,526,539

"EOY" = end of Year; "BOY" = Beginning of Year

     
Compensation Actually Paid vs. Total Shareholder Return

As shown in the chart below, the PEO and other NEOs’ CAP amounts are aligned with the Company’s TSR. This is due primarily to the Company’s use of equity incentives, which are tied directly to stock price in addition to the Company’s financial performance.

Graphic

     
Compensation Actually Paid vs. Net Income

As shown in the chart below, the PEO and other NEOs’ CAP amounts are aligned with the Company’s net income. This is due in large part to the significant emphasis the Company places on equity incentives, which are sensitive to changes

in stock price. In addition, the Company does not use net income to determine compensation levels or incentive plan payouts.

Graphic

     
Compensation Actually Paid vs. Company Selected Measure

The chart below compares the PEO and the other non-PEO NEOs’ CAP to PPG’s company-selected measure, adjusted earnings per diluted share, which indicates there is a very strong relationship between adjusted earnings per diluted share and CAP. This is due primarily to the Company’s use of equity incentives, which are tied directly to earnings per share in addition to the Company’s stock price and cash flow performance.

Graphic

     
Total Shareholder Return Vs Peer Group

As shown in the chart below, the Company’s TSR performance for the immediately preceding three years was aligned with the companies included in the peer group, and when the six-year TSR is compared to peers, the Company has outperformed the peers.

Graphic

The peer group consists of: 3M Co., Akzo Nobel N.V., Axalta Coatings Systems Ltd., Dow, Inc., Dupont de Nemours, Inc., Eastman Chemical Co., Masco Corp., RPM International Inc., and The Sherwin-Williams Co.

     
Tabular List, Table

The three items listed below represent the most important financial performance measures used by PPG to link compensation actually paid to our named executive officers for 2023 to the Company’s performance:

MOST IMPORTANT PERFORMANCE MEASURES

Adjusted earnings per diluted share

Cash flow return on capital

Total shareholder return

     
Total Shareholder Return Amount $ 120 99 133 110
Peer Group Total Shareholder Return Amount 120 101 135 112
Net Income (Loss) $ 1,270,000,000 $ 1,028,000,000 $ 1,420,000,000 $ 1,056,000,000
Company Selected Measure Amount | $ / shares 7.50 6.22 6.77 6.12
PEO Name Mr. Knavish      
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted earnings per diluted share      
Measure:: 2        
Pay vs Performance Disclosure        
Name Cash flow return on capital      
Measure:: 3        
Pay vs Performance Disclosure        
Name Total shareholder return      
PEO | MINUS SCT CHANGE IN PENSION VALUE        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (312,592) $ 4,368,862 $ 218,598 $ (4,289,632)
PEO | PLUS PENSION VALUE SERVICE COST        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       180,279
PEO | MINUS SCT EQUITY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (7,499,749) (10,000,026) (9,400,002) (8,249,709)
PEO | PLUS EOY FAIR VALUE OF EQUITY AWARDS GRANTED DURING YEAR THAT ARE OUTSTANDING AND UNVESTED AT EOY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 9,111,166 7,834,096 10,917,328 11,073,569
PEO | PLUS CHANGE FROM BOY TO EOY IN FAIR VALUE OF AWARDS GRANTED IN ANY PRIOR YEAR THAT ARE OUTSTANDING AND UNVESTED AT EOY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 744,589 (4,197,554) 4,275,913 1,559,781
PEO | PLUS CHANGE IN FAIR VALUE FROM BOY TO VESTING DATE OF AWARDS GRANTED IN ANY PRIOR YEAR THAT VESTED DURING THE YEAR        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 705,729 (6,634,096) 3,357,000 511,072
Non-PEO NEO | MINUS SCT CHANGE IN PENSION VALUE        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (245,779) 846,793 105,473 (995,665)
Non-PEO NEO | PLUS PENSION VALUE SERVICE COST        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       117,478
Non-PEO NEO | MINUS SCT EQUITY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,279,917) (1,970,003) (1,724,948) (1,399,950)
Non-PEO NEO | PLUS EOY FAIR VALUE OF EQUITY AWARDS GRANTED DURING YEAR THAT ARE OUTSTANDING AND UNVESTED AT EOY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,546,287 1,253,448 2,003,403 1,879,152
Non-PEO NEO | PLUS CHANGE FROM BOY TO EOY IN FAIR VALUE OF AWARDS GRANTED IN ANY PRIOR YEAR THAT ARE OUTSTANDING AND UNVESTED AT EOY        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 753,488 (546,994) 1,388,365 201,719
Non-PEO NEO | PLUS CHANGE IN FAIR VALUE FROM BOY TO VESTING DATE OF AWARDS GRANTED IN ANY PRIOR YEAR THAT VESTED DURING THE YEAR        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 814,038 (815,908) $ 459,843 $ 116,406
Non-PEO NEO | MINUS FAIR VALUE AT BOY OF AWARDS GRANTED IN PRIOR YEAR THAT WERE FORFEITED DURING THE YEAR        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   $ (1,074,730)