PPG Insider Filing: Kevin Braun Adds Deferred Compensation Units

Rhea-AI Filing Summary

Kevin D. Braun, Senior Vice President, Operations at PPG Industries (PPG) reported a change in beneficial ownership on 08/29/2025. The filing shows an acquisition of phantom stock units that convert one-for-one into common stock. The reported transaction records 6.8837 underlying shares at a reference price of $111.23 and a total of 630.7761 phantom stock units held following the transaction in PPG's Deferred Compensation Plan. The units are part of an unfunded unitized company stock fund whose attributed share count may change with the fair market value of PPG stock and fund cash. The filing was signed by an attorney-in-fact on 09/02/2025.

Positive

• Timely compliance: Form 4 filed and signed, showing transparency for insider holdings
• Clear explanation: Units convert one-for-one to common stock and are held in the Deferred Compensation Plan

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine deferred compensation unit acquisition by an executive; no immediate cash exercise or sale reported.

The Form 4 discloses acquisition of phantom stock units under PPG's Deferred Compensation Plan by Kevin D. Braun. These units convert one-for-one into common shares and are described as unfunded interests that track stock and cash in the plan. The filing shows a per-share reference price of $111.23 and reports 630.7761 units owned after the transaction. This type of filing typically reflects compensation plan credits rather than open-market trading. There is no indication of sale, exercise, or transfer of actual common stock in this report.

Corporate Governance Expert

TL;DR: Disclosure aligns with Section 16 reporting for deferred compensation; no governance concerns evident from the form.

The statement provides required transparency for an officer's holdings in a deferred compensation vehicle. The explanation clarifies post-termination conversion mechanics and notes that unit counts may fluctuate with fund value. The signature by an attorney-in-fact is properly noted. The disclosure does not indicate any related-party transaction, waiver, or policy deviation; it appears to be a routine, compliance-driven filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Braun Kevin D.

(Last) (First) (Middle)

PPG INDUSTRIES, INC.

ONE PPG PLACE

(Street)

PITTSBURGH PA 15272

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PPG INDUSTRIES INC [ PPG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr VP, Operations

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(1)	08/29/2025		A		6.8837		(2)	(2)	Common Stock	6.8837	$111.23	630.7761(3)	D

Explanation of Responses:

1. The security converts to common stock on a one-for-one basis.

2. After termination of employment with PPG.

3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan. Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash. The number of shares attributed to the reporting person as a Plan participant may change from time to time without the volition of the reporting person depending on the fair market value of the issuer's common stock and the amount of cash in the fund.

Remarks:

	/s/ Greg E. Gordon, Attorney-in-Fact for Kevin D. Braun	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Kevin D. Braun report on the Form 4 for PPG (PPG)?

He reported acquisition of phantom stock units on 08/29/2025, with 630.7761 units held after the transaction.

Do the phantom stock units convert to PPG common stock?

Yes; the filing states the security converts to common stock on a one-for-one basis.

What price is shown in the Form 4 for the underlying shares?

The Form 4 lists a reference price of $111.23 for the underlying common stock.

When was the Form 4 signed and by whom?

The form was signed by Greg E. Gordon, Attorney-in-Fact for Kevin D. Braun on 09/02/2025.

Are the phantom stock units part of a funded plan?

No; the filing states they are interests in an unfunded unitized company stock fund within the Deferred Compensation Plan.