PPG CFO awarded 122 Phantom Stock Units

PPG Industries Senior VP & CFO Vincent J. Morales reported a compensation-related award of phantom stock units.

Rhea-AI Filing Summary

PPG Industries Senior VP & CFO Vincent J. Morales reported a compensation-related award of phantom stock units. On June 12, 2026, he received 122.1362 Phantom Stock Units, each tied to the value of PPG common stock at $119.34 per unit.

After this grant, Morales holds a total of 27,815.4712 Phantom Stock Units in the PPG Industries Deferred Compensation Plan. These units convert into an equal number of PPG common shares on a one-for-one basis after his termination of employment. The number of units attributed to him can change over time based on the fund’s mix of PPG stock and cash.

Insider Trade Summary

Grant/Award: 122.1362 shares

Grant/Award 1 txn

Insider Morales Vincent J

Role Senior VP & CFO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	122.1362	$119.34	$15K

Holdings After Transaction: Phantom Stock Units — 27,815.4712 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of employment with PPG.
3. F3. 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.

Key Figures

Phantom Stock Units granted: 122.1362 units Reference unit value: $119.34 per unit Total Phantom Stock Units after grant: 27,815.4712 units +1 more

4 metrics

Phantom Stock Units granted 122.1362 units Grant on June 12, 2026

Reference unit value $119.34 per unit Value used for the June 12, 2026 award

Total Phantom Stock Units after grant 27,815.4712 units Deferred Compensation Plan balance after transaction

Conversion ratio 1:1 into common stock Phantom Stock Units convert into PPG common shares

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund

3 terms

Phantom Stock Units financial

"Phantom stock units represent interests in an unfunded unitized company stock fund"

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"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PPG (PPG) executive Vincent J. Morales report in this Form 4?

PPG Senior VP & CFO Vincent J. Morales reported receiving 122.1362 Phantom Stock Units as a compensation-related award. These units are tied to PPG’s common stock value and are held within the company’s Deferred Compensation Plan.

How many Phantom Stock Units does the PPG (PPG) CFO hold after this transaction?

After the award, Vincent J. Morales holds a total of 27,815.4712 Phantom Stock Units. This total represents all phantom units credited to him in PPG’s Deferred Compensation Plan as of the reported transaction date.

What are Phantom Stock Units in the context of PPG (PPG)?

PPG’s Phantom Stock Units represent interests in an unfunded unitized company stock fund consisting of PPG stock and cash. Their value tracks PPG’s common stock and the fund’s cash balance, and they are used as part of deferred executive compensation.

When do PPG (PPG) Phantom Stock Units held by the CFO convert into common stock?

The Phantom Stock Units convert into PPG common stock on a one-for-one basis after Vincent J. Morales’ termination of employment with PPG. Until then, they remain bookkeeping units within the Deferred Compensation Plan.

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

No. The Form 4 reflects a grant of 122.1362 Phantom Stock Units as compensation, not an open-market buy or sell. The units are part of a deferred compensation arrangement rather than a cash stock transaction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/15/2026 - 04:05 PM EDT Learn about SEC filing dates

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^*

Morales Vincent J

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior VP & CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			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)	06/12/2026		A		122.1362		(2)	(2)	Common Stock	122.1362	$119.34	27,815.4712(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 Vincent J. Morales	06/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)