PPG (NYSE: PPG) SVP increases deferred phantom stock holdings

Rhea-AI Filing Summary

PPG Industries senior vice president Chancey E. Hagerty reported an acquisition of 0.1211 phantom stock units on January 30, 2026 at $115.63 per unit under the company’s Deferred Compensation Plan. Following this transaction, Hagerty holds a total of 186.8328 phantom stock units.

The phantom stock units are tied to PPG’s common stock and cash in a unitized fund and convert into common shares on a one-for-one basis after termination of employment. The number of units can change over time based on the fund’s market value.

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^*

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)
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
Phamtom Stock Units	(1)	01/30/2026		A		0.1211		(2)	(2)	Common Stock	0.1211	$115.63	186.8328(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	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 Chancey E. Hagerty?

PPG reported that executive Chancey E. Hagerty acquired 0.1211 phantom stock units. The transaction occurred on January 30, 2026, at a reference price of $115.63 per unit within PPG’s Deferred Compensation Plan for phantom stock units.

How many PPG (PPG) phantom stock units does Chancey E. Hagerty now hold?

After the reported transaction, Hagerty beneficially owns 186.8328 phantom stock units. This total reflects all phantom stock units held in the PPG Industries, Inc. Deferred Compensation Plan, where balances fluctuate with PPG common stock value and cash in the plan’s unitized fund.

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. The fund is composed of PPG common stock and cash, and the number of units attributed to a participant changes over time as the stock’s fair market value and cash balance move.

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

The phantom stock units convert into PPG common stock on a one-for-one basis after termination of employment. Until that event, they remain bookkeeping entries in the Deferred Compensation Plan, tracking the value of PPG stock and associated cash in the unitized fund.

Does the PPG (PPG) Form 4 show direct or indirect ownership for these units?

The Form 4 reports Hagerty’s ownership of the phantom stock units as direct. The units are held for his benefit in the PPG Industries, Inc. Deferred Compensation Plan and are reported as beneficially owned derivative securities tied to PPG common stock.

What transaction code was used in the PPG (PPG) Form 4 filing?

The Form 4 uses transaction code “A” for the phantom stock units. Code “A” indicates an acquisition of derivative securities, here referring to the 0.1211 phantom stock units credited under the company’s Deferred Compensation Plan on January 30, 2026.