PPG (NYSE: PPG) HR chief receives additional phantom stock units grant

Rhea-AI Filing Summary

PPG Industries senior vice president and chief HR officer Robert L. Massy received a small grant of phantom stock units under a deferred compensation plan. On this transaction date, he acquired 0.3354 phantom stock units at a reference price of $123.27 per unit, bringing his total holdings in this plan to 167.8699 phantom stock units.

The phantom stock units convert into PPG common stock on a one-for-one basis after termination of his employment with PPG. These units represent interests in an unfunded company stock fund made up of stock and cash, so the number of units attributed to him can change over time as PPG’s stock price and the fund’s cash balance fluctuate.

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)
02/27/2026

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)	02/27/2026		A		0.3354		(2)	(2)	Common Stock	0.3354	$123.27	167.8699(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	03/02/2026
	** 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) executive Robert L. Massy report on this Form 4?

Robert L. Massy reported receiving a small grant of phantom stock units. He acquired 0.3354 units, increasing his total holdings in PPG’s deferred compensation plan to 167.8699 units, tied to the company’s stock performance over time.

How many phantom stock units does Robert L. Massy now hold at PPG (PPG)?

After this award, Robert L. Massy holds 167.8699 phantom stock units in PPG’s deferred compensation plan. These units track the value of PPG common stock and cash in a unitized fund and can fluctuate with market movements.

At what price were the new PPG (PPG) phantom stock units credited?

The newly credited phantom stock units were valued at a reference price of $123.27 per unit. This price is used to determine how many units are credited in the deferred compensation plan based on the dollar amount allocated.

When do PPG (PPG) phantom stock units held by Robert L. Massy convert to common stock?

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

What are phantom stock units in PPG (PPG)’s deferred compensation plan?

PPG’s phantom stock units represent interests in an unfunded, unitized company stock fund consisting of PPG stock and cash. The number of units credited to a participant can change as the fund’s market value and cash position move over time.

Does this PPG (PPG) Form 4 indicate an open-market stock purchase or sale?

No, this Form 4 reflects a grant or other acquisition of phantom stock units in a deferred compensation plan, not an open-market buy or sell. The transaction is categorized as a grant, award, or similar acquisition event.