[Form 4] PPG Industries, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Timothy M. Knavish, Chairman & CEO and Director of PPG Industries (PPG), reported an acquisition of phantom stock units on 08/29/2025. The filing shows 31.6976 phantom stock units were acquired at an indicated per-unit value of $111.23, and the reporting person now beneficially owns 11,883.6614 shares (or share-equivalents) through the PPG Deferred Compensation Plan. The filing explains these phantom units convert one-for-one to common stock and are payable after termination of employment; the units reflect interests in an unfunded stock-and-cash fund whose credited shares can change with the plan's fair market value and cash holdings. The Form 4 was signed by an attorney-in-fact on 09/02/2025.

Insights

Corporate Governance Expert

Routine executive deferred-compensation crediting; no immediate dilution or sale.

This Form 4 documents a non-cash crediting of phantom stock units to PPG's CEO and director under the company's Deferred Compensation Plan. Such credits are administrative and customary for executive compensation and do not represent an immediate open-market purchase or sale that would affect float or share count today. The units convert one-for-one to common stock and are payable after termination, so economic exposure is deferred and tied to the plan's fund performance rather than an outright stock issuance.

Executive Compensation Analyst

Deferred equity award tied to plan performance; aligns pay with long-term share value.

The reported acquisition of 31.6976 phantom stock units at a stated value of $111.23 per unit increases the reporting person's deferred equity holdings to 11,883.6614 share-equivalents. Because these units are part of an unfunded unitized stock-and-cash fund and payable after employment ends, they function as deferred compensation indexed to PPG's stock performance. This is a common mechanism to retain senior executives and align incentives without immediate equity dilution.

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^*

KNAVISH TIMOTHY 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

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)	08/29/2025		A		31.6976		(2)	(2)	Common Stock	31.6976	$111.23	11,883.6614(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 Timothy M. Knavish	09/02/2025
	** 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 transaction did Timothy M. Knavish report on Form 4 for PPG (PPG)?

The Form 4 reports an acquisition of 31.6976 phantom stock units on 08/29/2025 under PPG's Deferred Compensation Plan.

How many total share-equivalents does Knavish beneficially own after the transaction?

He beneficially owns 11,883.6614 share-equivalents following the reported transaction.

What is the per-unit value reported for the phantom stock units?

The filing shows an indicated unit value of $111.23 for the phantom stock units.

When are the phantom stock units payable or convertible to common stock?

The units convert one-for-one to common stock and are payable after termination of employment, per the filing.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Greg E. Gordon, Attorney-in-Fact for Timothy M. Knavish on 09/02/2025.