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

Rhea-AI Filing Summary

Alisha E. Bellezza, Sr. VP, Automotive Coatings at PPG Industries (PPG), reported a transaction on Form 4 dated 08/29/2025 showing acquisition of 0.558 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan at an attributed price of $111.23. The filing states phantom stock units convert to common stock one-for-one and represent interests in an unfunded unitized company stock fund composed of stock and cash; the number of shares attributed may change based on the fair market value of PPG common stock and cash in the fund. The filing shows 75.0277 shares attributed to the reporting person following the transaction. The form is signed by an attorney-in-fact on behalf of Ms. Bellezza on 09/02/2025.

Positive

• Transaction disclosed under Section 16: The filing provides required transparency for insider holdings and changes.
• Phantom units convert one-for-one to common stock: The Form explicitly states conversion mechanics for plan units.

Negative

• None.

Insights

Financial Analyst

TL;DR: A small acquisition of phantom stock units by a senior executive; impact on ownership is minimal.

The Form 4 documents an acquisition of 0.558 phantom stock units attributed at $111.23 each under PPG's Deferred Compensation Plan, bringing the reporting person to 75.0277 shares-equivalent. Phantom stock units convert one-for-one to common stock after termination and reflect interests in a unitized stock-and-cash fund. The transaction appears administrative under deferred compensation arrangements rather than a market purchase or sale of common stock, and the filing does not disclose any cash payment or change to executive role.

Corporate Governance Expert

TL;DR: Routine deferred-compensation crediting recorded; disclosure aligns with Section 16 reporting requirements.

The Form 4 shows crediting of phantom stock units to an officer participant in the Deferred Compensation Plan. The filing explains conversion mechanics and variability of attributed shares based on fund value, which is standard for unfunded unitized plans. There is an attorney-in-fact signature on 09/02/2025. The disclosure meets reporting obligations and contains no indication of related-party transactions beyond plan participation.

09/02/2025 - 12:07 PM

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^*

Bellezza Alisha

(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, Automotive Coatings

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		0.558		(2)	(2)	Common Stock	0.558	$111.23	75.0277(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. Bellezza	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 Alisha E. Bellezza report on Form 4 for PPG (PPG)?

The Form 4 reports acquisition of 0.558 phantom stock units on 08/29/2025 attributed at $111.23 under PPG's Deferred Compensation Plan.

How many shares-equivalent does the reporting person hold after the transaction?

The filing states the reporting person holds 75.0277 shares-equivalent following the reported transaction.

What are phantom stock units according to the filing?

The filing states phantom stock units represent interests in an unfunded unitized company stock fund composed of stock and cash and convert one-for-one to common stock after termination of employment.

Who signed the Form 4 and when was it signed?

The Form 4 is signed by Greg E. Gordon, Attorney-in-Fact for Alisha E. Bellezza on 09/02/2025.

Does the filing indicate these units were purchased on the open market?

No. The filing describes the credited phantom stock units under the Deferred Compensation Plan and does not indicate an open-market purchase or sale.