PPG Industries (NYSE: PPG) director granted new phantom stock units

Rhea-AI Filing Summary

PPG Industries Inc. director Gary R. Heminger reported a grant of 90.2871 phantom stock units linked to PPG common stock. These units are part of a deferred compensation plan for directors and convert into common shares on a one-for-one basis after his board service ends.

Following this award, Heminger holds a total of 10,900.9370 phantom stock units in the plan. The value of these units can change over time with the fair market value of PPG’s common stock and the cash held in the related company stock fund, making this a routine, stock-based compensation accrual rather than an open-market trade.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Heminger Gary R.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	90.287	$100.73	$9K

Holdings After Transaction: Phantom Stock Units — 10,900.937 shares (Direct)

Footnotes (1)

1. The security converts to common stock on a one-for-one basis. After termination of service as a Director of PPG Industries, Inc. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Heminger Gary R.

(Last) (First) (Middle)

C/O 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)	03/12/2026		A		90.2871		(2)	(2)	Common Stock	90.2871	$100.73	10,900.937(3)	D

Explanation of Responses:

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

2. After termination of service as a Director of PPG Industries, Inc.

3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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 Gary R. Heminger	03/13/2026
	** 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 insider transaction did PPG (PPG) director Gary R. Heminger report?

Gary R. Heminger reported receiving a grant of 90.2871 phantom stock units tied to PPG common stock. This is a deferred, stock-based compensation award under the company’s director deferred compensation plan, not an open-market purchase or sale of shares.

How many PPG phantom stock units does Gary R. Heminger now hold?

After the latest award, Gary R. Heminger holds 10,900.9370 phantom stock units in PPG’s deferred compensation plan for directors. These units track the value of a company stock fund and can fluctuate with PPG’s share price and associated cash in the fund.

What are PPG (PPG) phantom stock units as reported in this Form 4?

Phantom stock units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash. They mirror the economic value of PPG shares but are bookkeeping entries in a deferred compensation plan rather than actual shares held in an account.

When do Gary R. Heminger’s PPG phantom stock units convert to common stock?

Heminger’s phantom stock units convert to PPG common stock on a one-for-one basis after he terminates service as a director. Until then, they remain as notional units in the deferred compensation plan, tracking the value of PPG’s stock and related cash.

Does this PPG Form 4 show Gary R. Heminger buying or selling shares on the market?

No. The Form 4 reports a grant/award acquisition of phantom stock units, not an open-market stock purchase or sale. The transaction code is “A”, indicating compensation-related acquisition within a deferred plan, with no direct market trade in PPG common shares disclosed.

How does the value of PPG phantom stock units change over time for directors?

The value of phantom stock units changes with the fair market value of PPG’s common stock and the amount of cash in the underlying company stock fund. As prices and cash balances move, the number of shares attributed to a participant may adjust without their active trading.