PPG Industries (PPG) SVP Kevin Braun reports new phantom stock units

Rhea-AI Filing Summary

PPG Industries senior vice president of operations Kevin D. Braun reported an acquisition of phantom stock units tied to the company’s common stock. On 11/28/2025, he acquired 26.5104 phantom stock units at a price of $100.04 per unit under the PPG Industries, Inc. Deferred Compensation Plan. Following this transaction, he beneficially owned a total of 773.367 phantom stock units in the plan, held directly.

Each phantom stock unit converts into one share of PPG common stock after termination of employment with PPG. These units represent an interest in an unfunded unitized company stock fund made up of stock and cash, so the number of units attributed to him can change over time based on the market value of PPG’s stock and the cash balance in the fund.

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)
11/28/2025

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)	11/28/2025		A		26.5104		(2)	(2)	Common Stock	26.5104	$100.04	773.367(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	12/01/2025
	** 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 insider transaction did PPG (PPG) report for Kevin D. Braun?

PPG reported that senior vice president of operations Kevin D. Braun acquired 26.5104 phantom stock units tied to PPG common stock on 11/28/2025 under the company’s Deferred Compensation Plan.

What are the key terms of the phantom stock units reported by PPG (PPG)?

Each phantom stock unit converts into one share of PPG common stock after Mr. Braun’s termination of employment with PPG. The units are part of an unfunded unitized company stock fund consisting of stock and cash.

What price was used for the phantom stock units in the PPG (PPG) Form 4 filing?

The transaction shows a price of $100.04 per phantom stock unit for the 26.5104 units acquired on 11/28/2025.

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

After the reported acquisition, Kevin D. Braun beneficially owned a total of 773.367 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.

How can the number of phantom stock units change over time for PPG (PPG) executives?

The filing states that the number of phantom stock units may change without the reporting person’s volition, depending on the fair market value of PPG common stock and the amount of cash in the unfunded company stock fund.

Is the PPG (PPG) phantom stock unit plan a funded plan?

No. The phantom stock units represent interests in an unfunded unitized company stock fund, meaning they are bookkeeping entries tied to stock and cash values rather than segregated assets.