[Form 4] PPG Industries, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Amy R. Ericson, Senior Vice President, P&M Coatings at PPG Industries (PPG), reported an acquisition on 08/15/2025 of 13.9486 phantom stock units under the PPG Industries, Inc. Deferred Compensation Plan at an indicated price of $111.8 per share equivalent. The filing shows 88.7883 phantom stock units beneficially owned following the transaction, held directly. The phantom units convert to common stock on a one-for-one basis and are tied to an unfunded unitized company stock fund comprised of stock and cash. The filing notes conversion occurs after termination of employment and that unit counts may change based on fair market value and cash in the fund.

Insights

Securities Analyst

TL;DR: Routine report of additional phantom stock units acquired by an executive, showing current direct holdings.

The Form 4 documents a non-cash acquisition of 13.9486 phantom stock units by Amy R. Ericson on 08/15/2025, increasing her direct holdings to 88.7883 units. The units are part of the company's deferred compensation plan and convert one-for-one into common stock after employment termination. This filing discloses compensation-related equity exposure rather than an open-market trade, and it provides transparency on an executive's deferred equity position.

Compensation / Corporate Governance Specialist

TL;DR: Disclosure of deferred compensation units; mechanism and timing of conversion are specified in the filing.

The report clarifies that the reported instruments are phantom stock units within PPG's Deferred Compensation Plan, representing interests in an unfunded unitized fund of stock and cash. The filing explicitly states conversion is one-for-one to common stock and occurs after termination of employment, and that unit quantities fluctuate with fair market value and fund cash. The disclosure is procedural and aligns with Section 16 reporting requirements.

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^*

Ericson Amy R.

(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, P&M Coatings

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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)	08/15/2025		A		13.9486		(2)	(2)	Common Stock	13.9486	$111.8	88.7883(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 Amy R. Ericson	08/18/2025
	** 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 transaction did Amy R. Ericson report on Form 4 for PPG (PPG)?

The Form 4 reports an acquisition on 08/15/2025 of 13.9486 phantom stock units under PPG's Deferred Compensation Plan.

How many phantom stock units does Amy R. Ericson beneficially own after the reported transaction?

The filing shows 88.7883 phantom stock units beneficially owned following the transaction, held directly.

Do the phantom stock units convert to common stock and when?

Yes; the filing states the security converts to common stock on a one-for-one basis and conversion occurs after termination of employment.

What is the stated price per share equivalent for the phantom stock units in the filing?

The filing indicates a price of $111.8 per share equivalent for the reported units.

What is the nature of the phantom stock units in PPG's plan?

The units represent interests in an unfunded unitized company stock fund comprised of stock and cash; unit counts may change with fair market value and cash in the fund.