PPG Industries exec gets phantom stock at $114

PPG Industries executive Kevin D. Braun, Sr VP, Operations, reported an acquisition of 0.8364 Phantom Stock Units linked to PPG common stock at a reference value of $114.11 per unit.

Rhea-AI Filing Summary

PPG Industries executive Kevin D. Braun, Sr VP, Operations, reported an acquisition of 0.8364 Phantom Stock Units linked to PPG common stock at a reference value of $114.11 per unit. Following this grant, he holds a total of 903.2593 Phantom Stock Units in PPG’s Deferred Compensation Plan, which convert to common stock on a one-for-one basis after termination of employment and fluctuate with the fair market value of PPG stock and cash in the plan fund.

Insider Trade Summary

Grant/Award: 0.8364 shares

Grant/Award 1 txn

Insider Braun Kevin D.

Role Sr VP, Operations

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	0.8364	$114.11	$95.44

Holdings After Transaction: Phantom Stock Units — 903.2593 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 acquired: 0.8364 units Price per Phantom Stock Unit: $114.11 Total Phantom Stock Units held: 903.2593 units +1 more

4 metrics

Phantom Stock Units acquired 0.8364 units Grant or award acquisition on 2026-08-14

Price per Phantom Stock Unit $114.11 Reference value per unit for the reported award

Total Phantom Stock Units held 903.2593 units Total units in PPG Industries, Inc. Deferred Compensation Plan after transaction

Conversion ratio 1:1 Each Phantom Stock Unit converts into one share of PPG common stock after termination of employment

Key Terms

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

4 terms

Phantom Stock Units financial

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

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.

FAQ

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

What insider transaction did PPG (PPG) report for Kevin D. Braun?

PPG reported that Sr VP, Operations Kevin D. Braun acquired 0.8364 Phantom Stock Units as a grant or award. These units are tied to PPG common stock and are held within the company’s Deferred Compensation Plan.

How many Phantom Stock Units does Kevin D. Braun hold at PPG after this Form 4?

After the reported transaction, Kevin D. Braun holds 903.2593 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan. This figure represents the total of all phantom stock units attributed to him under the plan.

At what reference price were the new Phantom Stock Units for PPG (PPG) valued?

The newly acquired Phantom Stock Units were reported at a reference value of $114.11 per unit. This value reflects the per-unit price used in the award entry and is tied to the value of PPG’s common stock within the plan’s unitized stock fund.

When do Kevin D. Braun’s Phantom Stock Units at PPG convert into common stock?

The filing states that the Phantom Stock Units convert into PPG common stock on a one-for-one basis after termination of employment with PPG. Conversion therefore occurs only upon the end of his employment, not on a fixed calendar date.

What does PPG’s Form 4 say about how Phantom Stock Unit balances can change over time?

The total Phantom Stock Units attributed to Braun may change over time without his volition. The number adjusts based on the fair market value of PPG common stock and the amount of cash in the unfunded unitized company stock fund.

Are PPG (PPG) Phantom Stock Units actual shares of stock?

The Phantom Stock Units represent interests in an unfunded unitized company stock fund rather than current shares. They track a mix of PPG stock and cash and ultimately convert into common stock on a one-for-one basis after employment ends.

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

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Available on EDGAR 08/17/2026 - 10:52 AM EDT Accepted by SEC EDGAR 08/17/2026 - 10:51 AM 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^*

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)
08/14/2026

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)	08/14/2026		A		0.8364		(2)	(2)	Common Stock	0.8364	$114.11	903.2593(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	08/17/2026
	** 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)