PPG Industries (NYSE: PPG) senior VP awarded new phantom stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

PPG Industries senior vice president of operations Kevin D. Braun reported receiving a grant of phantom stock units under a deferred compensation plan. He acquired 7.8962 phantom stock units at a reference price of $108.50 per unit, bringing his total to 871.4703 units.

The phantom stock units convert into common stock on a one-for-one basis after termination of employment with PPG. They represent interests in an unfunded unitized company stock fund made up of PPG stock and cash, so the number of units attributed to him can change over time with the fund’s value.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Braun Kevin D.

Role Sr VP, Operations

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	7.896	$108.50	$856.74

Holdings After Transaction: Phantom Stock Units — 871.47 shares (Direct, null)

Footnotes (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.

Key Figures

Phantom units awarded: 7.8962 units Reference price per unit: $108.50 per unit Total phantom units after award: 871.4703 units +1 more

4 metrics

Phantom units awarded 7.8962 units Grant of phantom stock units on April 30, 2026

Reference price per unit $108.50 per unit Price used to determine new phantom units

Total phantom units after award 871.4703 units Holdings in PPG Deferred Compensation Plan after transaction

Conversion ratio 1:1 to common stock Phantom stock units convert into PPG common shares

Key Terms

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

4 terms

Phantom Stock Units financial

"Total of all phantom stock units held by the reporting person"

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

"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

"represent interests in an unfunded unitized company stock fund comprised of stock and cash"

fair market value financial

"may change from time to time ... depending on the fair market value of the issuer's common stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

Form 4 Insider Transactions: What Each Field Means →

05/01/2026 - 10:57 AM

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^*

Braun Kevin D.

(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)
	Sr VP, Operations

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	04/30/2026		A		7.8962		⁽²⁾	⁽²⁾	Common Stock	7.8962	$108.5	871.4703⁽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 Kevin D. Braun	05/01/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did PPG (PPG) executive Kevin D. Braun report on this Form 4?

Kevin D. Braun reported receiving 7.8962 phantom stock units tied to PPG common stock. This award increased his total phantom stock holdings in the deferred compensation plan to 871.4703 units, all reflecting interests in a company stock fund consisting of PPG shares and cash.

How many phantom stock units does Kevin D. Braun hold in PPG (PPG) after this transaction?

After the transaction, Kevin D. Braun holds 871.4703 phantom stock units in PPG’s deferred compensation plan. These units track the value of a unitized company stock fund and can change over time with the fund’s fair market value and cash balance.

At what price were the new phantom stock units for PPG (PPG) credited?

The 7.8962 phantom stock units were credited using a reference value of $108.50 per unit. This reflects the price used to determine the number of units recorded in the deferred compensation plan, which represents a mix of PPG stock and cash.

When do Kevin D. Braun’s PPG (PPG) phantom stock units convert to common shares?

The phantom stock units convert into PPG common stock on a one-for-one basis after termination of employment with PPG. Until then, they remain as plan units whose attributed number can fluctuate based on the underlying fund’s value over time.

What does a phantom stock unit represent for PPG (PPG) executives?

A phantom stock unit represents an interest in an unfunded unitized company stock fund composed of PPG stock and cash. For participants like Kevin D. Braun, the number of units can change as the fair market value of PPG common stock and fund cash levels move.

Is this PPG (PPG) Form 4 a market purchase or sale of common stock?

No, this Form 4 reflects a grant or award acquisition of phantom stock units, not an open-market trade in common shares. The reported 7.8962 units are part of a deferred compensation arrangement linked to PPG’s stock and cash-based company fund.