PPG HR chief granted 16.1 phantom stock units

PPG’s chief human resources officer received an additional grant of phantom stock units tied one-for-one to PPG common shares in the company’s deferred compensation plan.

Rhea-AI Filing Summary

PPG INDUSTRIES INC (PPG) reported that senior vice president and chief human resources officer Robert L. Massy received an award of 16.1438 Phantom Stock Units on September 15, 2026. These units convert into common stock on a one-for-one basis after termination of employment and are held in a deferred compensation plan.

Following this grant, Massy holds a reported total of 191.0687 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan. Phantom stock units represent interests in an unfunded unitized company stock fund comprised of PPG stock and cash, so the number of units may change with stock price and cash levels. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 16.1438 shares

Grant/Award 1 txn

Insider Massy Robert L.

Role Sr. VP and Chief HR Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	16.1438	$104.89	$2K

Holdings After Transaction: Phantom Stock Units — 191.0687 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of employment with PPG.
3. F3. 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.

Key Figures

Phantom Stock Units granted: 16.1438 units Grant reference price per unit: $104.89 per unit Total Phantom Stock Units after transaction: 191.0687 units +1 more

4 metrics

Phantom Stock Units granted 16.1438 units Grant reported for September 15, 2026

Grant reference price per unit $104.89 per unit Price field for the September 15, 2026 phantom unit grant

Total Phantom Stock Units after transaction 191.0687 units Post-transaction phantom stock holdings in deferred compensation plan

Conversion ratio to common stock 1 unit for 1 share Phantom stock units convert to PPG common stock on a one-for-one basis

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund

3 terms

Phantom Stock Units financial

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

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Deferred Compensation Plan financial

"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan."

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

unfunded unitized company stock fund financial

"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PPG (PPG) disclose about Robert L. Massy’s latest equity award?

PPG disclosed that Robert L. Massy received 16.1438 Phantom Stock Units on September 15, 2026, as a grant or award acquisition. These units are part of the PPG Industries, Inc. Deferred Compensation Plan and are tied to PPG common stock.

How many phantom stock units in PPG (PPG) does Robert L. Massy hold after this transaction?

After the reported grant, Robert L. Massy holds a total of 191.0687 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan, as stated in the filing’s post-transaction holdings figure.

How do Massy’s PPG (PPG) phantom stock units convert into common stock?

The filing states that the phantom stock units convert to common stock on a one-for-one basis. Conversion occurs after termination of employment with PPG, according to the attached footnote describing the award terms.

When can the phantom stock units reported for PPG’s Robert L. Massy be settled?

The phantom stock units are described as converting into PPG common stock after termination of employment with PPG. Until then, they remain interests in a unitized company stock fund within the deferred compensation plan.

Are Robert L. Massy’s PPG (PPG) phantom stock units part of a funded plan?

No. The filing describes the phantom stock units as interests in an unfunded unitized company stock fund comprised of PPG stock and cash under the PPG Industries, Inc. Deferred Compensation Plan.

Was Robert L. Massy’s PPG (PPG) phantom stock grant made under a Rule 10b5-1 trading plan?

No. The document-level Rule 10b5-1 checkbox is unchecked, so no Rule 10b5-1 plan is reported in connection with this phantom stock unit grant.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 12:19 PM Accepted by SEC EDGAR 09/16/2026 - 12:18 PM Learn about SEC filing dates

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^*

Massy Robert L.

(Last) (First) (Middle)

PPG INDUSTRIES, INC.

ONE PPG PLACE

(Street)

PITTSBURGH PENNSYLVANIA 15272

(City) (State) (Zip)

UNITED STATES

(Country)

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 and Chief HR Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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

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

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

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)	09/15/2026		A		16.1438		(2)	(2)	Common Stock	16.1438	$104.89	191.0687(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 Robert L. Massy	09/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)