PPG INDUSTRIES, INC. OMNIBUS INCENTIVE PLAN
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PPG INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
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Pennsylvania
(State or other jurisdiction
of incorporation or organization)
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25-0730780
(I.R.S. Employer
Identification No.) |
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One PPG Place
Pittsburgh, Pennsylvania
(Address of Principal Executive Offices)
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15272
(Zip Code) |
PPG INDUSTRIES, INC.
OMNIBUS INCENTIVE PLAN
(Full title of plans)
James C. Diggs
Senior Vice President, General Counsel and Secretary
PPG Industries, Inc.
Pittsburgh, Pennsylvania 15272
(Name and address of agent for service)
(412) 434-3131
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
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Proposed |
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Proposed |
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maximum |
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maximum |
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Amount to be |
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offering price |
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aggregate |
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Amount of |
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Title of each class of securities to be registered |
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registered (1) |
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per share (2) |
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offering price |
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registration fee |
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Common Stock,
par value $1.66 2/3 per share |
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10,000,000 |
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$67.15 |
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$671,500,000 |
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$71,851 |
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(1) |
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Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the Securities Act),
this Registration Statement also covers an indeterminate number of additional shares of Common
Stock, par value $1.66 2/3 per share (the Common Stock), of PPG Industries, Inc. (the
Registrant) as may be offered or issued under the PPG Industries, Inc. Omnibus Incentive Plan
(the Plan) to prevent dilution resulting from stock splits, stock dividends or similar
transactions. |
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(2) |
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The maximum offering price per share is estimated solely for purposes of calculating the
registration fee pursuant to Rules 457(c) and (h) under the Securities Act, on the basis of the
average of the high and low prices of the Common Stock as reported on the New York Stock Exchange
on February 5, 2007. |
TABLE OF CONTENTS
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant with the Securities and Exchange Commission
(the Commission) pursuant to the Securities Act are incorporated by reference into this
Registration Statement:
(a) the Registrants Annual Report on Form 10-K filed with the Commission for the fiscal year
ended December 31, 2005 (File No. 001-01687),
(b) the Registrants Quarterly Reports on Form 10-Q for the quarterly periods ended on March
31, 2006, June 30, 2006 and September 30, 2006 (File No. 001-01687),
(c) the Registrants Current Reports on Form 8-K filed with the Commission on January 18,
2007, January 3, 2007, December 26, 2006, December 22, 2006, December 19, 2006, December 13, 2006,
November 16, 2006, November 2, 2006, October 19, 2006, September 27, 2006, July 21, 2006, July 20,
2006, June 29, 2006, May 5, 2006, April 21, 2006, April 20, 2006, February 22, 2006 and January
19, 2006, and
(d) the description of the Registrants Common Stock contained in any Registration Statement
filed pursuant to Section 12 of the Securities Exchange Act of 1934 (the Exchange Act),
including all amendments and reports updating such description.
All documents subsequently filed by the Registrant with the Commission pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the Exchange
Act), after the date of this Registration Statement, but prior to the filing of a post-effective
amendment to this Registration Statement which indicates that all securities offered by this
Registration Statement have been sold or which deregisters all such securities then remaining
unsold, shall be deemed to be incorporated by reference into this Registration Statement. Each
document incorporated by reference into this Registration Statement shall be deemed to be a part
of this Registration Statement from the date of filing of such document with the Commission until
the information contained therein is superseded or updated by any subsequently filed document
which is incorporated by reference into this Registration Statement or by any document which
constitutes part of the prospectus relating to the Plan meeting the requirements of Section 10(a)
of the Securities Act.
Item 4. Description of Securities.
The class of securities to be offered under this Registration Statement is registered under
Section 12(b) of the Exchange Act.
Item 5. Interests of Named Experts and Counsel.
The validity of the Common Stock registered pursuant to this Form S-8 has been passed upon for
the Registrant by James C. Diggs, Esq., Senior Vice President, General Counsel and Secretary of the
Registrant. Mr. Diggs owns shares of the Registrants Common Stock and holds options to purchase
shares of the Registrants Common Stock. In addition, Mr. Diggs may be granted additional stock
awards or other compensation benefits from the Registrant on or after the date hereof.
Item 6. Indemnification of Directors and Officers.
Subchapter D of Chapter 17 (Section 1741, et seq.) of the Business Corporation Law of the
Commonwealth of Pennsylvania (the BCL) provides for indemnification of the Registrants directors
and officers against certain liabilities under certain circumstances.
Article Eighth of the Registrants Articles of Incorporation provides that no director of the
Registrant shall be personally liable for monetary damages as such for any action taken, or any
failure to take any action, as a director, to the fullest extent that the laws of the Commonwealth
of Pennsylvania permit.
Article VI of the Registrants Bylaws provides that a director, officer or employee shall
be found to be entitled to indemnification for expenses (including attorneys fees) and any
liabilities (including judgments, fines or penalties and amounts paid in settlement) actually and
in good faith paid or incurred by any such person in connection with any actual or threatened
proceeding (including any derivative lawsuits) by reason of the fact that such person is or was
serving as a director, officer or employee of the Registrant or, at the request of the Registrant,
was serving another corporation, partnership, joint venture, trust, employee benefit plan or other
entity, unless a referee finds the conduct engaged in to have been such that, if so found by a
court, indemnification would be prohibited by Pennsylvania law. The Registrant is also required to
indemnify any such person (1) where there has been a determination by a court as to the conduct of
the person claiming indemnification such that indemnification would not be prohibited by
Pennsylvania law or (2) where the person is otherwise entitled to indemnification by Pennsylvania
law. Expenses with respect to a proceeding which are incurred in good faith are required to be
advanced by the Registrant prior to final disposition of the proceeding, subject to any obligation
to repay the Registrant which is imposed by law or by provision in the Articles, Bylaws, an
agreement or otherwise. Under Pennsylvania law, any such advancement of expenses must be made
subject to an undertaking to repay the Registrant in the event that it is determined ultimately
that the person receiving the advancement is not entitled to indemnification. A written request for
such advancement of expenses must be made to the Secretary of the Registrant.
The selection of the referee is to be made by the Registrants general counsel or, if the
Registrants general counsel is the person claiming indemnification or is otherwise involved in the
proceeding, by a senior officer of the Registrant who does not have such a relationship to the
proceeding. The referee is defined to be an attorney with substantial expertise in corporate law,
who is both independent of the parties and unbiased. The person claiming indemnification may
object, within 10 days of the notice of selection of the referee, to the referee selected. If the
parties cannot agree on the selection of a referee, or if the Registrant fails to propose a
referee, within 45 days of the submission of the request for indemnification, the referee will be
selected by the American Arbitration Association.
The determination of entitlement to indemnification is made by the referee; however, the
referee is required to find the person entitled to indemnification unless the referee finds that
the conduct of the person was such that if so found by a court, indemnification would be prohibited
by Pennsylvania law. The determination of the referee is binding on the Registrant but not on the
person claiming indemnification.
To the extent that a person is entitled to indemnification for only a portion of the
expenses or liability resulting from a proceeding, the Registrant is required to indemnify the
person for such portion. The Bylaws authorize the Registrant to purchase and maintain insurance, to
create a trust fund, to grant a security interest or to use other means (including, without
limitation, establishing a letter of credit) to ensure the payment of indemnification.
The Registrant specifically is authorized to enter into agreements with any director,
officer or employee of the Registrant, which agreements may grant rights in furtherance of,
different from, or in addition to, but not in limitation of, the rights to indemnification granted
in the Bylaws, without further shareholder approval of the terms and conditions of, or the form of,
such agreements. Without limitation of the foregoing, in such agreements the Registrant may agree
(1) to maintain insurance against certain expenses and liabilities and (2) to contribute to
expenses and liabilities incurred in accordance with the application of relevant equitable
considerations to the relative benefits to, and the relevant fault of, the Registrant.
The Bylaws provide (1) that the rights granted therein are contract rights, (2) that it
will cover acts and omissions occurring on or after January 27, 1987, and (3) that the rights
granted will continue as to a person who has ceased to be a director, officer or employee of the
Registrant, with respect to a proceeding
which results from acts or failures to act while such
person was a director, officer or employee of the Registrant.
Subchapter D of Chapter 17 of the BCL and the Bylaws both also provide that the
indemnification provided for therein shall not be deemed exclusive of any other rights to which
those seeking indemnification may otherwise be entitled. The Registrant also has a policy of
directors and officers liability insurance to indemnify its directors and officers against certain
liabilities incurred in their capacities as such.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
The following exhibits are filed herewith or incorporated by reference as part of this
Registration Statement:
4.1 PPG Industries, Inc. Restated Articles of Incorporation, as amended (incorporated by
reference to Exhibit 3 to the Registrants Quarterly Report on Form 10-Q for the period ended March
31, 1995 (001-01687)).
4.2 Statement with Respect to Shares, amending the Restated Articles of Incorporation
effective April 21, 1998, (incorporated by reference to Exhibit 3.1 to the Registrants Annual
Report on Form 10-K for the period ended Dec. 31, 1998 (001-01687)).
4.3 PPG Industries, Inc. Bylaws, as amended and restated effective July 20, 2006,
(incorporated by reference to Exhibit 99.1 to the Registrants Current Report on Form 8-K filed on
July 21, 2006 (001-01687)).
5.1 Opinion of James C. Diggs, Esquire, Senior Vice President, General Counsel and Secretary
of the Registrant, regarding the legality of the shares being registered hereunder.
23.1 Consent of James C. Diggs, Esquire, Senior Vice President, General Counsel and Secretary
of the Registrant (included in the Opinion filed as Exhibit 5.1).
23.2 Consent of Deloitte & Touche LLP.
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the effective date of
the Registration Statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set forth in
the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum offering range may
be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if in the
aggregate, the changes in volume and price represent no
more than 20% change in the maximum
aggregate offering price set forth in the Calculation of Registration Fee table in the effective
Registration Statement.
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the Registration Statement or any material change to such information in
the Registration Statement;
Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if
the information required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed with or furnished to the Commission by the Registrant pursuant
to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the
Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the Registrants annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plans annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
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(h) Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than
the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted
by such director, officer or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will be governed by the
final adjudication of such issue.
Pursuant to the requirements of the Securities Act, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on this 15th day of
September, 2006.
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PPG Industries, Inc.
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By: |
/s/ Charles E. Bunch
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Charles E. Bunch |
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Chairman and Chief Executive Officer |
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KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints James C. Diggs his or her true and lawful attorney-in-fact and agent, with full power
of substitution and resubstitution, for him or her and in his or her name, place and stead, in any
and all capacities, to sign any and all amendments to this Registration Statement, and to file the
same, with all exhibits thereto, and other documentation in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and agent with full power
and authority to do and perform each and every act and thing requisite and necessary to be done in
or about the premises, as fully to all intents and purposes as he or she might or could do in
person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their
substitute or substitutes may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the date(s) indicated:
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Signature |
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Capacity |
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/s/ Charles E. Bunch
Charles E. Bunch
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Chairman of the Board and
Chief Executive Officer
(Principal Executive
Officer) and a Director
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September 15, 2006 |
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/s/ William H. Hernandez
William H. Hernandez
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Senior Vice President,
Finance (Principal
Financial Officer and
Principal Accounting
Officer)
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September 15, 2006 |
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/s/ J.G. Berges
J.G. Berges
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Director
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September 15, 2006 |
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/s/ E.B. Davis, Jr.
E.B. Davis, Jr.
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Director
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September 15, 2006 |
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Director
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September 15, 2006 |
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Signature |
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Capacity |
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Date |
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/s/ V.F. Haynes
V.F. Haynes
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Director
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September 15, 2006 |
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/s/ M.J. Hooper
M.J. Hooper
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Director
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September 15, 2006 |
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/s/ R. Mehrabian
R. Mehrabian
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Director
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September 15, 2006 |
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Director
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September 15, 2006 |
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/s/ T.J. Usher
T.J. Usher
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Director
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September 15, 2006 |
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/s/ D.R. Whitwam
D.R. Whitwam
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Director
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September 15, 2006 |
EXHIBIT INDEX
4.1 PPG Industries, Inc. Restated Articles of Incorporation, as amended (incorporated by
reference to Exhibit 3 to the Registrants Quarterly Report on Form 10-Q for the period ended March
31, 1995 (001-01687)).
4.2 Statement with Respect to Shares, amending the Restated Articles of Incorporation
effective April 21, 1998, (incorporated by reference to Exhibit 3.1 to the Registrants Annual
Report on Form 10-K for the period ended Dec. 31, 1998 (001-01687)).
4.3 PPG Industries, Inc. Bylaws, as amended and restated effective July 20, 2006,
(incorporated by reference to Exhibit 99.1 to the Registrants Current Report on Form 8-K filed on
July 21, 2006 (001-01687)).
5.1 Opinion of James C. Diggs, Esquire, Senior Vice President, General Counsel and Secretary
of the Registrant, regarding the legality of the shares being registered hereunder.
23.1 Consent of James C. Diggs, Esquire, Senior Vice President, General Counsel and Secretary
of the Registrant (included in the Opinion filed as Exhibit 5.1).
23.2 Consent of Deloitte & Touche LLP.