PPG (PPG) HR chief receives phantom stock unit award in deferred plan

Rhea-AI Filing Summary

Massy Robert L. reported acquisition or exercise transactions in this Form 4 filing.

PPG Industries senior vice president and chief HR officer Robert L. Massy received a grant of 0.8843 phantom stock units tied to PPG common stock at an indicated value of $119.34 per unit. Following this award, he holds 171.9253 phantom stock units under PPG's deferred compensation plan, which are convertible into common shares on a one-for-one basis after his employment ends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Massy Robert L.

Role Sr. VP and Chief HR Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.884	$119.34	$105.53

Holdings After Transaction: Phantom Stock Units — 171.925 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.

Key Figures

Phantom units granted: 0.8843 units Unit value: $119.34 per unit Total phantom units held: 171.9253 units +1 more

4 metrics

Phantom units granted 0.8843 units Grant of phantom stock units on 2026-06-12

Unit value $119.34 per unit Indicated value for newly awarded phantom units

Total phantom units held 171.9253 units Total phantom stock units after the award

Conversion ratio 1 unit : 1 share Phantom stock units convert to common stock one-for-one

Key Terms

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

4 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

"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

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

conversion to common stock financial

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

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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^*

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP and Chief HR Officer

2a. Foreign Trading Symbol

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

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		0.8843		(2)	(2)	Common Stock	0.8843	$119.34	171.9253(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. Massy	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)

FAQ

What did PPG (PPG) executive Robert L. Massy report in this Form 4?

Robert L. Massy reported receiving 0.8843 phantom stock units linked to PPG common stock. This award is part of PPG’s deferred compensation plan and increases his total phantom stock unit holdings to 171.9253 units, representing a form of non-cash, stock-based compensation.

How many phantom stock units does Robert L. Massy now hold at PPG (PPG)?

After this transaction, Robert L. Massy holds 171.9253 phantom stock units in PPG’s deferred compensation plan. These units track the value of PPG common stock and represent his accumulated interest in an unfunded, unitized company stock fund consisting of stock and cash.

What is the value per phantom stock unit in Robert L. Massy’s PPG (PPG) Form 4?

The newly awarded 0.8843 phantom stock units are reported at $119.34 per unit. This value reflects the underlying value used for the deferred compensation entry and corresponds to interests in a unitized fund tied to PPG’s common stock and associated cash holdings.

When do PPG (PPG) phantom stock units held by Robert L. Massy convert to common stock?

According to the disclosure, the phantom stock units convert to PPG common stock on a one-for-one basis after termination of employment. This means Massy’s units are generally payable in common shares once his employment with PPG has ended, consistent with the plan terms.

Are PPG (PPG) phantom stock units actual shares of common stock today?

The phantom stock units are not current shares of common stock. They represent interests in an unfunded, unitized company stock fund of stock and cash. Their number can change over time based on PPG’s stock price and cash levels in the fund.

Does this PPG (PPG) Form 4 show an open-market buy or sell by Robert L. Massy?

No, the Form 4 shows a grant or award acquisition of phantom stock units, not an open-market trade. The transaction code is “A,” indicating a compensation-related award within PPG’s deferred compensation plan, rather than a discretionary stock purchase or sale in the market.