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PPG (PPG) senior VP awarded additional phantom stock units in plan

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PPG Industries Inc senior vice president of Automotive Coatings Alisha Bellezza received a grant of phantom stock units as part of compensation. She acquired 0.5662 phantom stock units on March 31, 2026 at a reference price of $106.88 per unit, bringing her total holdings in the deferred compensation plan to 159.8879 units.

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

Positive

  • None.

Negative

  • None.
Insider Bellezza Alisha
Role Sr. VP, Automotive Coatings
Type Security Shares Price Value
Grant/Award Phantom Stock Units 0.566 $106.88 $60.52
Holdings After Transaction: Phantom Stock Units — 159.888 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.
Phantom units granted 0.5662 units Award on March 31, 2026
Reference price per unit $106.88 per unit Grant valuation for phantom stock units
Total phantom units after grant 159.8879 units Holdings in PPG deferred compensation plan
Conversion ratio 1 unit : 1 share Phantom units convert to common stock one-for-one
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 without the volition of the reporting person 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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Bellezza Alisha
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Sr. VP, Automotive Coatings
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)03/31/2026A0.5662 (2) (2)Common Stock0.5662$106.88159.8879(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 Alisha E. Bellezza04/01/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did PPG (PPG) executive Alisha Bellezza report in this Form 4?

Alisha Bellezza reported receiving 0.5662 phantom stock units tied to PPG common stock. This award increased her total phantom units in the company’s deferred compensation plan to 159.8879, reflecting routine, compensation-related accumulation rather than an open-market stock purchase or sale.

What are phantom stock units in PPG (PPG)’s deferred compensation plan?

Phantom stock units represent interests in an unfunded unitized company stock fund invested in PPG stock and cash. They track the value of PPG common shares, and the number of units can change as the stock’s fair market value and the fund’s cash component fluctuate over time.

When do Alisha Bellezza’s PPG (PPG) phantom stock units convert to common stock?

Each phantom stock unit converts into one share of PPG common stock after termination of her employment with PPG. Until then, the units remain as bookkeeping entries within the deferred compensation plan, reflecting performance of the underlying company stock fund and any cash held in that fund.

How many PPG (PPG) phantom stock units does Alisha Bellezza hold after this transaction?

After acquiring 0.5662 new phantom stock units, Alisha Bellezza holds a total of 159.8879 phantom stock units. These units are all in PPG’s deferred compensation plan and represent indirect exposure to PPG common stock through the plan’s unitized stock and cash investment structure.

Did Alisha Bellezza buy or sell PPG (PPG) shares in the market?

No, this filing shows a grant or award of phantom stock units, not an open-market trade. The transaction is coded as an acquisition related to compensation, with no reported market purchase or sale of PPG common shares by Bellezza on the transaction date.