PPG SVP awarded phantom stock units

PPG Industries senior vice president Alisha Bellezza reported a compensation-related grant of phantom stock units.

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Rhea-AI Filing Summary

PPG Industries senior vice president Alisha Bellezza reported a compensation-related grant of phantom stock units. She acquired 0.5800 phantom stock units on common stock at a reference price of $121.2900 per unit, increasing her deferred balance to 164.3380 units.

The phantom stock units convert into common stock on a one-for-one basis after termination of employment with PPG. They represent interests in an unfunded company stock fund whose attributed share count can change over time with PPG’s stock price and cash in the fund.

Insider Trade Summary

Grant/Award: 0.58 shares

Grant/Award 1 txn

Insider Bellezza Alisha

Role Sr. VP, Automotive Coatings

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.58	$121.29	$70.35

Holdings After Transaction: Phantom Stock Units — 164.338 contracts (Direct)

Footnotes (3)

F1. The security converts to common stock on a one-for-one basis.
F2. After termination of employment with PPG.
F3. 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: 0.5800 units Reference price per unit: $121.2900 Total phantom units after grant: 164.3380 units +3 more

6 metrics

Phantom stock units granted 0.5800 units Grant to Alisha Bellezza on phantom stock units

Reference price per unit $121.2900 Price per phantom stock unit on transaction date

Total phantom units after grant 164.3380 units Bellezza’s total phantom stock units in plan after transaction

Conversion ratio 1:1 to common stock Each phantom stock unit converts into one PPG common share

Conversion/exercise price $0.0000 Stated conversion or exercise price for phantom stock units

Transaction date 2026-06-30 Date of phantom stock unit grant reported

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund, fair market value, +1 more

5 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 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.

one-for-one basis financial

"The security converts to common stock on a one-for-one basis."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PPG (PPG) disclose in Alisha Bellezza’s latest Form 4?

PPG disclosed that senior vice president Alisha Bellezza received a grant of 0.5800 phantom stock units tied to common stock, bringing her total phantom unit balance in the deferred compensation plan to 164.3380 units as of the reported transaction date.

How many phantom stock units did PPG’s Alisha Bellezza acquire?

Alisha Bellezza acquired 0.5800 phantom stock units linked to PPG common stock. This award increased her total phantom stock units held in the PPG Industries, Inc. Deferred Compensation Plan to 164.3380 units, according to the insider transaction disclosure.

At what price were Alisha Bellezza’s phantom stock units valued in the Form 4?

The 0.5800 phantom stock units reported for Alisha Bellezza used a reference price of $121.2900 per unit. This price reflects the fair market value of PPG common stock used in the plan’s unitized company stock fund on the transaction date.

When do PPG phantom stock units held by Alisha Bellezza convert to common stock?

The filing states that the phantom stock units convert to PPG common stock on a one-for-one basis after termination of employment with PPG. Until then, they remain bookkeeping units within the company’s deferred compensation plan structure.

How does the value of PPG phantom stock units change over time for Alisha Bellezza?

The number of phantom stock units attributed to Alisha Bellezza can change without her volition. It varies with the fair market value of PPG’s common stock and the amount of cash in the unfunded unitized company stock fund supporting the deferred compensation plan.

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Accepted by SEC EDGAR 07/01/2026 - 01:46 PM EDT

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

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, Automotive Coatings

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	06/30/2026		A		0.58		⁽²⁾	⁽²⁾	Common Stock	0.58	$121.29	164.338⁽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	07/01/2026
	** 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)

Source: View Original Filing on SEC EDGAR