PPG Industries (NYSE: PPG) awards phantom stock units to Sr VP Kevin Braun

Rhea-AI Filing Summary

PPG Industries Inc. reported that Sr VP, Operations Kevin D. Braun received a grant of 2.1129 Phantom Stock Units on July 15, 2026, at a reference price of $115.3100 per unit. These units convert into PPG common stock on a one-for-one basis after termination of employment.

Following this award, Braun holds a total of 894.7279 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan, which is an unfunded unitized company stock fund whose value changes with PPG’s share price and cash in the fund.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Braun Kevin D.

Role Sr VP, Operations

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	2.113	$115.31	$243.64

Holdings After Transaction: Phantom Stock Units — 894.728 shares (Direct)

Footnotes (1)

1. The security converts to common stock on a one-for-one basis. After termination of employment with PPG. 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: 2.1129 units Reference Price per Unit: $115.3100 Total Phantom Units After Grant: 894.7279 units +1 more

4 metrics

Phantom Stock Units Granted 2.1129 units Grant to Kevin D. Braun on 2026-07-15

Reference Price per Unit $115.3100 Valuation per phantom stock unit for the grant

Total Phantom Units After Grant 894.7279 units Total phantom stock units held by Braun in the Deferred Compensation Plan

Conversion Ratio 1:1 Each phantom stock unit converts into one share of PPG common stock

Key Terms

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

4 terms

Phantom Stock Units financial

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

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."

fair market value financial

"may change from time to time ... depending on the fair market value of the issuer's common stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/16/2026 - 09:40 AM Accepted by SEC EDGAR 07/16/2026 - 09:40 AM Learn about SEC filing dates

FAQ

What insider transaction did PPG (PPG) report for Kevin D. Braun?

PPG reported that Sr VP, Operations Kevin D. Braun received a grant of 2.1129 Phantom Stock Units. The award was recorded at a reference price of $115.3100 per unit and reflects compensation rather than an open-market stock purchase or sale.

How many PPG (PPG) phantom stock units does Kevin D. Braun hold after this Form 4?

After the reported grant, Kevin D. Braun holds a total of 894.7279 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan. This total represents all phantom stock units credited to him under the plan as of the transaction date.

At what price were the new PPG (PPG) phantom stock units valued in Braun’s grant?

The newly granted phantom stock units for Kevin D. Braun were valued at $115.3100 per unit. This price functions as the reference value for the grant and is tied to PPG’s common stock within the plan’s unitized company stock fund.

Do Kevin D. Braun’s PPG (PPG) phantom stock units convert into common shares?

Yes. The filing states that each phantom stock unit converts to common stock on a one-for-one basis. Conversion occurs after termination of employment with PPG, meaning Braun’s phantom units can become an equivalent number of PPG common shares at that time.

What is the PPG (PPG) Deferred Compensation Plan mentioned in Braun’s Form 4?

The PPG Industries, Inc. Deferred Compensation Plan holds phantom stock units as interests in an unfunded unitized company stock fund of stock and cash. The number of units attributed to Braun can change with PPG’s fair market value and the fund’s cash balance.

Does this PPG (PPG) Form 4 reflect open-market buying or selling by Kevin D. Braun?

No. The transaction is coded as an A for a grant or award, indicating a grant/award acquisition of phantom stock units under a compensation plan. The filing does not report any open-market purchases or sales of PPG common stock by Braun.

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 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, Operations

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026

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)	07/15/2026		A		2.1129		(2)	(2)	Common Stock	2.1129	$115.31	894.7279(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	07/16/2026
	** 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)