PPG Industries (PPG) director Michael Nally awarded phantom stock units

Rhea-AI Filing Summary

Director Michael Nally reported receiving a grant of 72.7797 phantom stock units tied to PPG Industries Inc. common stock. After this award, he holds a total of 8,433.5299 phantom stock units in the company’s Deferred Compensation Plan for Directors.

The phantom stock units convert into common shares on a one-for-one basis after his service as a director ends. 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 as the fund’s value moves with PPG’s share price and cash balance.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Nally Michael

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	72.78	$100.73	$7K

Holdings After Transaction: Phantom Stock Units — 8,433.53 shares (Direct)

Footnotes (1)

1. The security converts to common stock on a one-for-one basis. After termination of service as a Director of PPG Industries, Inc. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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.

Form 4 Insider Transactions: What Each Field Means →

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^*

Nally Michael

(Last) (First) (Middle)

C/O 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)	03/12/2026		A		72.7797		(2)	(2)	Common Stock	72.7797	$100.73	8,433.5299(3)	D

Explanation of Responses:

1. The security converts to common stock on a one-for-one basis.

2. After termination of service as a Director of PPG Industries, Inc.

3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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 Michael Nally	03/13/2026
	** 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) director Michael Nally report on this Form 4?

Michael Nally reported a grant of 72.7797 phantom stock units linked to PPG common stock. Following this award, he now holds 8,433.5299 phantom stock units in PPG’s Deferred Compensation Plan for Directors, all reported as directly owned.

How many PPG phantom stock units does Michael Nally hold after this transaction?

After the reported grant, Michael Nally holds a total of 8,433.5299 phantom stock units. These units are in PPG’s Deferred Compensation Plan for Directors and track a unitized stock fund that includes PPG shares and cash, so attributed amounts may change over time.

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

PPG’s phantom stock units represent interests in an unfunded, unitized company stock fund made up of stock and cash. They track the value of PPG common stock, and the number of units attributed to a director can change as the fund’s market value and cash balance fluctuate.

When do PPG phantom stock units held by Michael Nally convert to common stock?

The phantom stock units convert into PPG common stock on a one-for-one basis after Michael Nally’s termination of service as a director. Until then, they remain as bookkeeping units in the Deferred Compensation Plan, reflecting the value of a stock-and-cash investment fund.

Does this Form 4 show Michael Nally buying or selling PPG common shares?

The Form 4 shows a grant of 72.7797 phantom stock units, not an open-market purchase or sale of common shares. These units are derivative interests that will convert into PPG common stock on a one-for-one basis after his board service ends.