PPG Industries (PPG) SVP reports acquisition of phantom stock units in Form 4

Rhea-AI Filing Summary

PPG Industries senior vice president Chancey E. Hagerty reported a change in holdings under the company’s deferred compensation plan. On 11/28/2025, the reporting person acquired 17.2947 phantom stock units, each of which converts into one share of PPG common stock on a one-for-one basis. The units were valued at $100.04 per underlying share at the time of the transaction, and the reporting person held a total of 152.4063 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan after this transaction. These phantom units are an interest in an unfunded company stock fund that tracks PPG’s stock and cash, and the attributed number of shares can change over time with the stock’s fair market value 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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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^*

Hagerty Chancey E.

(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, Auto. Refinish Ctgs.

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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
Phamtom Stock Units	(1)	11/28/2025		A		17.2947		(2)	(2)	Common Stock	17.2947	$100.04	152.4063(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 Chancey E. Hagerty	12/01/2025
	** 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 insider transaction did PPG (PPG) report in this Form 4?

The filing reports that senior vice president Chancey E. Hagerty acquired 17.2947 phantom stock units tied to PPG common stock on 11/28/2025 under a deferred compensation plan.

How many PPG (PPG) phantom stock units does the insider hold after this transaction?

Following the reported transaction, the insider beneficially owned 152.4063 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.

What are phantom stock units in the context of PPG (PPG)?

Phantom stock units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash. They track the value of PPG’s common stock and cash rather than being actual shares.

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

Each phantom stock unit converts into one share of PPG common stock on a one-for-one basis after termination of employment with PPG.

What price per share was used for the PPG (PPG) phantom stock transaction?

The phantom stock units acquired on 11/28/2025 were valued using a price of $100.04 per share of PPG common stock.

What is the insider’s role at PPG (PPG) in this Form 4?

The reporting person is an officer of PPG Industries, serving as Senior Vice President, Automotive Refinish Coatings.