PPG Industries (NYSE: PPG) director awarded new phantom stock units

Rhea-AI Filing Summary

PPG Industries director Michael W. Lamach received a grant of 112.9677 phantom stock units on common stock, classified as a compensation-related award. These units convert into an equal number of PPG common shares on a one-for-one basis after his service as a director ends.

Following this award, Lamach holds a total of 14,097.464 phantom stock units in the PPG deferred compensation plan for directors. The value of these units changes over time with the fair market value of PPG common stock and the cash held in the related plan fund.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LAMACH MICHAEL W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	112.968	$100.73	$11K

Holdings After Transaction: Phantom Stock Units — 14,097.464 shares (Direct)

Footnotes (1)

1. The security converts to common stock on a one-for-one basis. After termination of service as a Director of PPG Industries, Inc. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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^*

LAMACH MICHAEL W

(Last) (First) (Middle)

C/O 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		112.9677		(2)	(2)	Common Stock	112.9677	$100.73	14,097.464(3)	D

Explanation of Responses:

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

2. After termination of service as a Director of PPG Industries, Inc.

3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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 Michael W. Lamach	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 did PPG (PPG) director Michael W. Lamach report in this Form 4 filing?

Michael W. Lamach reported receiving 112.9677 phantom stock units as a compensation-related award. These derivative units reference PPG common stock and increase his total phantom stock holdings to 14,097.464 units in the PPG deferred compensation plan for directors.

What are the key terms of the phantom stock units granted to the PPG director?

The phantom stock units convert into PPG common stock on a one-for-one basis. Settlement occurs after the director’s service with PPG Industries ends. Their value tracks the fair market value of PPG common stock and the cash position of the underlying unitized company stock fund.

How many phantom stock units does the PPG director hold after this transaction?

After the award of 112.9677 phantom stock units, the director’s total phantom holdings in the PPG deferred compensation plan are 14,097.464 units. This total represents all phantom stock units attributed to him within the plan at the time of the filing.

Do the phantom stock units in this PPG (PPG) filing represent an open-market stock purchase or sale?

No, the phantom stock units reflect a grant or award, not an open-market transaction. The Form 4 classifies the event under code A, indicating a grant, award, or other acquisition of a derivative security tied to PPG common stock value for compensation purposes.

When can the PPG director’s phantom stock units be converted into common shares?

The phantom stock units convert into PPG common stock after the director’s service with PPG Industries terminates. At that point, each unit converts on a one-for-one basis into common shares, subject to the deferred compensation plan’s terms and applicable conditions.