PPG Industries (NYSE: PPG) SVP adds phantom stock units in plan

Rhea-AI Filing Summary

PPG Industries executive reports small phantom stock award. Senior Vice President Juliane M. Hefel acquired 1.2005 phantom stock units on January 30, 2026 at $115.63 per unit, bringing her total holdings in the company’s Deferred Compensation Plan to 229.5868 phantom stock units.

The phantom stock converts into PPG common stock on a one-for-one basis after her employment with PPG ends. These units track the value of a company stock fund made up of PPG shares and cash, so the number attributed to her can change as market values move.

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^*

Hefel Juliane M.

(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, Ind Coatings & Sp Prod

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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)	01/30/2026		A		1.2005		(2)	(2)	Common Stock	1.2005	$115.63	229.5868(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 Juliane M. Hefel	02/02/2026
	** 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 insider transaction did PPG (PPG) report for Juliane M. Hefel?

PPG reported that Senior Vice President Juliane M. Hefel acquired 1.2005 phantom stock units on January 30, 2026 at $115.63 per unit. After this transaction, she beneficially owned a total of 229.5868 phantom stock units in the PPG Deferred Compensation Plan.

What are phantom stock units in PPG’s Deferred Compensation Plan?

PPG’s phantom stock units represent interests in an unfunded unitized company stock fund composed of PPG stock and cash. They are bookkeeping units whose value tracks the fund. The number of units attributed to a participant can change over time as the stock price and cash balance fluctuate.

How do PPG phantom stock units convert into common stock?

Each PPG phantom stock unit converts into one share of PPG common stock on a one-for-one basis. The filing states that this conversion occurs after the reporting person’s termination of employment with PPG, linking the benefit to the executive’s eventual separation from the company.

How many PPG phantom stock units does Juliane M. Hefel hold after this Form 4?

Following the reported transaction, Juliane M. Hefel holds 229.5868 phantom stock units in PPG’s Deferred Compensation Plan. This figure represents the total of all phantom units credited to her account, reflecting interests in a stock and cash fund tied to PPG’s common shares.

At what price were the new PPG phantom stock units credited on January 30, 2026?

The 1.2005 phantom stock units credited to Juliane M. Hefel on January 30, 2026 used a reference price of $115.63 per unit. This price reflects the value applied within the Deferred Compensation Plan for that transaction involving interests in the PPG stock fund.