PPG executive awarded 3.56 phantom stock units

PPG Industries Inc. senior vice president Anne M. Foulkes reported a routine compensation-related transaction involving phantom stock units linked to PPG common stock.

Rhea-AI Filing Summary

PPG Industries Inc. senior vice president Anne M. Foulkes reported a routine compensation-related transaction involving phantom stock units linked to PPG common stock. She received an award of 3.56 phantom stock units at a reference price of $119.34 per unit, increasing her total holdings in the company’s deferred compensation plan to 770.0558 phantom stock units. These units are designed to mirror the value of PPG common stock on a one-for-one basis and generally convert to common shares after termination of employment.

Insider Trade Summary

Grant/Award: 3.56 shares

Grant/Award 1 txn

Insider Foulkes Anne M.

Role Sr. VP, Legal & Spl. Projects

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	3.56	$119.34	$424.85

Holdings After Transaction: Phantom Stock Units — 770.0558 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: 3.56 units Reference price per unit: $119.34 per unit Total phantom units after grant: 770.0558 units +1 more

4 metrics

Phantom stock units granted 3.56 units Grant on 2026-06-12 to Anne M. Foulkes

Reference price per unit $119.34 per unit Phantom stock unit grant pricing

Total phantom units after grant 770.0558 units Holdings in PPG deferred compensation plan

Conversion ratio 1:1 Phantom stock units to PPG common stock after employment ends

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unitized company stock fund, one-for-one basis

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

"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.

unitized company stock fund financial

"an unfunded unitized company stock fund comprised of stock and cash"

one-for-one basis financial

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

FAQ

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

What insider transaction did PPG (PPG) report for Anne M. Foulkes?

PPG reported that Anne M. Foulkes received 3.56 phantom stock units as a compensation-related award. These units track PPG common stock value and increased her total phantom stock holdings in the deferred compensation plan to 770.0558 units.

Is the latest PPG (PPG) Form 4 a stock purchase or a grant?

The Form 4 reflects a grant of phantom stock units, not an open-market stock purchase. Anne M. Foulkes acquired 3.56 phantom stock units as a compensation award within PPG’s deferred compensation plan structure tied to company stock performance.

How many phantom stock units does Anne M. Foulkes now hold at PPG?

Following the reported grant, Anne M. Foulkes holds a total of 770.0558 phantom stock units. These represent interests in a unitized company stock fund that includes PPG stock and cash within the deferred compensation plan structure.

At what reference price were the new PPG phantom stock units granted?

The new 3.56 phantom stock units were granted at a reference price of $119.34 per unit. This reference price is used for the phantom units, which are designed to mirror the value of PPG common stock in the deferred compensation plan.

When do the PPG phantom stock units reported on this Form 4 convert to common stock?

The phantom stock units convert to PPG common stock on a one-for-one basis after termination of employment. Until then, they function as deferred compensation interests that fluctuate with PPG’s stock value and the cash component of the unitized plan fund.

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

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Accepted by SEC EDGAR 06/15/2026 - 04:03 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^*

Foulkes Anne M.

(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, Legal & Spl. Projects

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		3.56		(2)	(2)	Common Stock	3.56	$119.34	770.0558(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 Anne M. Foulkes	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)