PPG Industries (PPG) HR chief awarded additional phantom stock units

Rhea-AI Filing Summary

Massy Robert L. reported acquisition or exercise transactions in this Form 4 filing.

PPG Industries Inc senior vice president and chief human resources officer Robert L. Massy received a small grant of phantom stock units under the company’s deferred compensation plan. The award covers 0.2556 phantom stock units, bringing his total phantom stock unit holdings in the plan to 169.7406 units.

Each phantom stock unit represents an interest in a unitized company stock fund and is designed to mirror the value of one share of PPG common stock. These units are settled in common stock on a one-for-one basis after his employment with PPG ends, and their attributed share count can fluctuate over time with changes in stock price and cash 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
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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^*

Massy Robert L.

(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 and Chief HR Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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)	03/13/2026		A		0.2556		(2)	(2)	Common Stock	0.2556	$101.89	169.7406(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 Robert L. Massy	03/16/2026
	** 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.

FAQ

What insider transaction did PPG (PPG) report for Robert L. Massy?

PPG reported that Sr. VP and Chief HR Officer Robert L. Massy received a grant of 0.2556 phantom stock units. This award increased his total phantom stock unit holdings in the PPG Industries Deferred Compensation Plan to 169.7406 units tied to company stock.

What are phantom stock units in the PPG (PPG) Deferred Compensation Plan?

Phantom stock units in PPG’s Deferred Compensation Plan represent interests in an unfunded unitized company stock fund. The fund is comprised of PPG stock and cash, so the number of attributed units can change as the common stock’s fair market value and cash balance fluctuate.

How do PPG (PPG) phantom stock units convert into common stock?

Each PPG phantom stock unit converts into common stock on a one-for-one basis. For Robert L. Massy, the 0.2556 new units and his total 169.7406 units are ultimately payable in an equivalent number of PPG common shares, subject to the plan’s distribution rules.

When are PPG (PPG) phantom stock units payable to the reporting person?

The phantom stock units become payable in PPG common stock after termination of employment with PPG. Until then, they remain as deferred compensation interests within the plan, tracking the performance of a unitized fund invested in PPG stock and cash balances.

Did the PPG (PPG) Form 4 involve an open-market stock purchase or sale?

No open-market purchase or sale was reported. The Form 4 shows a grant of phantom stock units as deferred compensation, classified as a derivative award. It reflects an acquisition of plan units rather than a direct market transaction in PPG common shares.