PPG Industries (PPG) reports executive phantom stock unit award

Rhea-AI Filing Summary

PPG Industries senior vice president of automotive coatings Alisha Bellezza reported a compensation grant of 1.5103 phantom stock units tied to the company’s common stock at a reference price of $100.73 per unit. Following this award, she holds 158.6907 phantom stock units in the PPG deferred compensation plan.

The phantom units track a unitized company stock fund of stock and cash, may change in number with market value and cash levels, and convert into common stock on a one-for-one basis after her employment with PPG ends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bellezza Alisha

Role Sr. VP, Automotive Coatings

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1.51	$100.73	$152.13

Holdings After Transaction: Phantom Stock Units — 158.691 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.

Form 4 Insider Transactions: What Each Field Means →

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)
03/12/2026

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)	03/12/2026		A		1.5103		(2)	(2)	Common Stock	1.5103	$100.73	158.6907(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	03/13/2026
	** 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 Alisha Bellezza?

PPG reported a compensation-related grant of 1.5103 phantom stock units to senior vice president Alisha Bellezza. These units are tied to PPG common stock and increase her total phantom holdings in the company’s deferred compensation plan to 158.6907 units.

Is the PPG (PPG) Form 4 transaction an open-market buy or sale?

The Form 4 shows a grant of phantom stock units, not an open-market stock purchase or sale. It is classified as a grant or award acquisition, reflecting executive compensation rather than a discretionary trading decision in PPG common shares.

How many phantom stock units does Alisha Bellezza now hold at PPG (PPG)?

After the reported grant, Alisha Bellezza holds a total of 158.6907 phantom stock units in the PPG deferred compensation plan. This total reflects all phantom interests in the unitized company stock fund attributed to her as a plan participant.

What does the 1-for-1 conversion of PPG (PPG) phantom stock units mean?

Each phantom stock unit converts into one share of PPG common stock. The footnotes specify a one-for-one basis, so when conversion occurs, the number of phantom units determines the number of PPG common shares ultimately delivered to the participant.

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

The phantom stock units convert into PPG common stock after the participant’s employment with PPG ends. The filing notes conversion occurs following termination of employment, linking payout timing to the executive’s departure from the company.

Why can the number of PPG (PPG) phantom stock units change over time?

The units represent an interest in a unitized company stock fund holding PPG stock and cash. As the fund’s fair market value and cash levels change, the number of units attributed to a participant may change without any action by the reporting person.