PPG Industries (NYSE: PPG) exec gains additional phantom stock units

Rhea-AI Filing Summary

PPG Industries executive Alisha Bellezza, Sr. VP, Automotive Coatings, reported a small addition of phantom stock units under the company’s Deferred Compensation Plan. On January 30, 2026, she acquired 0.4347 phantom stock units at $115.63 each, bringing her total to 156.3553 phantom units. These units track PPG common stock in a unitized stock-and-cash fund and convert into PPG common shares on a one-for-one basis after her employment with PPG terminates.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bellezza Alisha

Role Sr. VP, Automotive Coatings

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.435	$115.63	$50.26

Holdings After Transaction: Phantom Stock Units — 156.355 shares (Direct)

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.

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^*

Bellezza Alisha

(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, Automotive Coatings

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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)	01/30/2026		A		0.4347		(2)	(2)	Common Stock	0.4347	$115.63	156.3553(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 Alisha E. Bellezza	02/02/2026
	** 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.

FAQ

What insider transaction did PPG (PPG) report for Alisha Bellezza?

PPG reported that Sr. VP, Automotive Coatings, Alisha Bellezza acquired 0.4347 phantom stock units on January 30, 2026. The units were valued at $115.63 each and are part of the PPG Industries, Inc. Deferred Compensation Plan.

What are phantom stock units in PPG (PPG)’s Deferred Compensation Plan?

PPG’s phantom stock units represent interests in an unfunded, unitized company stock fund holding PPG stock and cash. They track the fair market value of PPG common stock, and the number of units can change over time as the stock price and fund cash balance change.

How many phantom stock units does Alisha Bellezza hold after this Form 4?

After the reported transaction, Alisha Bellezza beneficially owns 156.3553 phantom stock units in the PPG Deferred Compensation Plan. This figure reflects the total of all phantom units credited to her account following the addition of 0.4347 units on January 30, 2026.

When do PPG (PPG) phantom stock units convert into common stock?

PPG’s phantom stock units convert into common stock on a one-for-one basis after a participant’s employment with PPG terminates. At that point, the units are settled based on the number of phantom shares credited under the Deferred Compensation Plan.

Does Alisha Bellezza directly own the phantom stock units reported in this filing?

Yes. The Form 4 lists the ownership form as direct (D) for the phantom stock units held by Alisha Bellezza. The filing does not attribute these units to any separate trust, partnership, or other indirect holding entity.

How is the value of PPG (PPG) phantom stock units determined over time?

The value of PPG phantom stock units changes with the fair market value of PPG common stock and the amount of cash in the unitized company stock fund. As these components fluctuate, the number of shares attributed to each participant’s interest can change without their action.