PPG executive granted new phantom stock units

PPG Industries Inc. senior vice president Juliane M. Hefel received a small compensation-related award of phantom stock units tied to PPG common stock.

Rhea-AI Filing Summary

PPG Industries Inc. senior vice president Juliane M. Hefel received a small compensation-related award of phantom stock units tied to PPG common stock. She acquired 1.4164 phantom stock units, bringing her total holdings in the deferred compensation plan to 1,148.3484 units.

Each phantom stock unit is designed to convert into one share of PPG common stock after termination of employment. The value of these units tracks a company stock fund made up of PPG shares and cash, so the attributed number of units can change with market value and fund cash levels.

Insider Trade Summary

Grant/Award: 1.4164 shares

Grant/Award 1 txn

Insider Hefel Juliane M.

Role Sr. VP, Ind Coatings & Sp Prod

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1.4164	$101.89	$144.32

Holdings After Transaction: Phantom Stock Units — 1,148.3484 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.

FAQ

What insider transaction did PPG (PPG) report for Juliane M. Hefel?

PPG reported that senior vice president Juliane M. Hefel received a grant of 1.4164 phantom stock units. These are compensation-related units tied to PPG common stock, modest in size, and increase her total phantom stock holdings within the company’s deferred compensation plan.

How many phantom stock units does Juliane M. Hefel now hold at PPG?

After the latest grant, Juliane M. Hefel holds 1,148.3484 phantom stock units. This total reflects all phantom stock interests credited to her under PPG’s deferred compensation plan, which tracks a unitized fund invested in PPG stock and cash over time.

What are phantom stock units in the context of PPG (PPG)?

At PPG, phantom stock units represent interests in an unfunded, unitized company stock fund composed of PPG stock and cash. Their value tracks the fund’s performance, and each unit is intended to convert into one share of PPG common stock after the executive’s termination of employment.

When can Juliane M. Hefel’s phantom stock units at PPG convert to common shares?

The phantom stock units are structured to convert into PPG common stock after Juliane M. Hefel’s termination of employment. Until then, they remain bookkeeping entries in the deferred compensation plan, with their value linked to the underlying stock-and-cash fund’s changing market value.

Does this PPG Form 4 show an open-market buy or sell of stock?

No open-market buy or sell is shown; the filing reflects a grant-type acquisition of phantom stock units as compensation. The units track PPG’s share value within a deferred compensation plan rather than representing a direct purchase or sale of common stock in the market.

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Accepted by SEC EDGAR 03/16/2026 - 11:14 AM 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^*

Hefel Juliane M.

(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, Ind Coatings & Sp Prod

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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)	03/13/2026		A		1.4164		(2)	(2)	Common Stock	1.4164	$101.89	1,148.3484(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 Juliane M. Hefel	03/16/2026
	** 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.