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PPG Industries (PPG) HR chief receives grant of phantom stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PPG Industries Sr. VP and Chief HR Officer Robert L. Massy received a small grant of phantom stock units as compensation. On this Form 4, he acquired 0.2675 phantom stock units at a reference price of $121.29 per unit.

These phantom units are held in the PPG Industries Deferred Compensation Plan and convert into common stock on a one-for-one basis after termination of employment with PPG. Following this award, Massy holds a total of 172.4094 phantom stock units under the plan, which track the value of PPG common stock but are part of an unfunded company stock fund rather than direct share ownership.

Positive

  • None.

Negative

  • None.
Insider Massy Robert L.
Role Sr. VP and Chief HR Officer
Type Security Shares Price Value
Grant/Award Phantom Stock Units 0.268 $121.29 $32.45
Holdings After Transaction: Phantom Stock Units — 172.409 shares (Direct, null)
Footnotes (1)
  1. The security converts to common stock on a one-for-one basis. After termination of employment with PPG. 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.
Phantom units granted 0.2675 units Grant of phantom stock units on June 30, 2026
Reference price per unit $121.29 per unit Value used for phantom stock unit grant
Total phantom units after grant 172.4094 units Massy’s holdings in Deferred Compensation Plan after transaction
Conversion ratio 1 unit : 1 share Phantom stock units convert to common stock one-for-one
Phantom Stock Units financial
"The security converts to common stock on a one-for-one basis."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Deferred Compensation Plan financial
"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan."
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
unfunded unitized company stock fund financial
"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Massy Robert L.
(Last)(First)(Middle)
PPG INDUSTRIES, INC.
ONE PPG PLACE
(Street)
PITTSBURGH PENNSYLVANIA 15272
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
PPG INDUSTRIES INC [ PPG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Sr. VP and Chief HR Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)06/30/2026A0.2675 (2) (2)Common Stock0.2675$121.29172.4094(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. Massy07/01/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did PPG (PPG) report for Robert L. Massy?

PPG reported that Sr. VP and Chief HR Officer Robert L. Massy received 0.2675 phantom stock units as a compensation-related grant. This award is recorded as a derivative acquisition, not an open-market stock purchase or sale.

How many phantom stock units does Robert L. Massy hold after this Form 4?

After the reported grant, Robert L. Massy holds a total of 172.4094 phantom stock units in the PPG Industries Deferred Compensation Plan. These units track the value of PPG common stock through an unfunded company stock fund.

At what value were the new phantom stock units for PPG (PPG) recorded?

The 0.2675 phantom stock units granted to Robert L. Massy were recorded at a reference price of $121.29 per unit. This price reflects the underlying value used to measure the deferred compensation award.

Do PPG phantom stock units convert into common shares for Robert L. Massy?

Yes. The phantom stock units convert into PPG common stock on a one-for-one basis. According to the disclosure, this conversion occurs after termination of Massy’s employment with PPG, linking the award to long-term service.

Is Robert L. Massy’s PPG Form 4 an open-market stock purchase or sale?

No. The filing reports a compensation-related grant under transaction code A, described as a grant, award, or other acquisition. It involves phantom stock units in a deferred compensation plan, not an open-market buy or sell of PPG shares.

How are PPG phantom stock units held for Robert L. Massy structured?

The phantom stock units represent interests in an unfunded, unitized company stock fund within the PPG Industries Deferred Compensation Plan. The number of units can change over time as the fund’s mix of stock and cash and PPG’s share price fluctuate.