PPG (PPG) HR chief granted phantom stock units in deferred comp plan

Rhea-AI Filing Summary

PPG Industries senior vice president and chief human resources officer Robert L. Massy received a grant of 0.2166 Phantom Stock Units on June 15, 2026 at a reference value of $121.53 per unit. After this award, he holds a total of 172.1419 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan, which convert into common stock on a one-for-one basis after termination of employment.

Insights

Executive compensation analyst

Routine, very small phantom stock grant as part of deferred compensation.

PPG Industries granted senior vice president and chief human resources officer Robert L. Massy 0.2166 Phantom Stock Units valued at $121.53 per unit. This is classified as a grant or award acquisition, not an open-market stock purchase or sale.

The units are held in the PPG Industries, Inc. Deferred Compensation Plan, an unfunded unitized company stock fund consisting of stock and cash. Balances can change over time with the fair market value of PPG common stock and cash levels in the fund.

The units convert into PPG common stock on a one-for-one basis after termination of employment. Given the minimal size of the grant and its routine compensation nature, this filing represents a standard update to Massy’s deferred equity-based holdings rather than a directional trading signal.

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	0.217	$121.53	$26.32

Holdings After Transaction: Phantom Stock Units — 172.142 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 Stock Units granted: 0.2166 units Reference value per unit: $121.53 per unit Total Phantom Stock Units after grant: 172.1419 units +1 more

4 metrics

Phantom Stock Units granted 0.2166 units Grant on June 15, 2026

Reference value per unit $121.53 per unit Phantom Stock Units grant price

Total Phantom Stock Units after grant 172.1419 units Holdings following transaction

Underlying common stock equivalence 1 share per unit Conversion ratio to common stock

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded 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

"Total of all 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

"Phantom stock units represent interests in 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"

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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)
06/15/2026

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)	06/15/2026		A		0.2166		(2)	(2)	Common Stock	0.2166	$121.53	172.1419(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	06/16/2026
	** 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 0.2166 Phantom Stock Units as a compensation-related award. These units are tied to PPG’s stock value and are held in the company’s Deferred Compensation Plan, increasing his total phantom stock holdings to 172.1419 units.

Is the PPG (PPG) Form 4 for Robert L. Massy a stock purchase or sale?

The Form 4 shows a grant of phantom stock units, not a market trade. The transaction is coded as an acquisition (grant or award), meaning it reflects compensation rather than an open-market buy or sell of PPG common shares.

How many Phantom Stock Units does Robert L. Massy now hold at PPG (PPG)?

After the June 15, 2026 grant of 0.2166 units, Robert L. Massy holds 172.1419 Phantom Stock Units. These units represent interests in a PPG stock-based fund within the Deferred Compensation Plan and fluctuate with PPG’s stock price and cash in the fund.

What is the value reference for the Phantom Stock Units granted to the PPG (PPG) executive?

The 0.2166 Phantom Stock Units were granted at a reference value of $121.53 per unit. This price is used for reporting purposes and reflects the fair market value associated with each unit of PPG-related phantom stock at the grant time.

When do PPG (PPG) Phantom Stock Units convert into common stock for Robert L. Massy?

The Phantom Stock Units convert to PPG common stock on a one-for-one basis after termination of employment. Until then, they remain as notional units in the Deferred Compensation Plan, tracking the value of PPG common stock and related cash in the plan’s stock fund.

What is the PPG (PPG) Deferred Compensation Plan mentioned in the Form 4?

The Deferred Compensation Plan is an unfunded, unitized company stock fund holding PPG stock and cash. Phantom stock units represent interests in this fund, and the number of units credited to participants can change as PPG’s share price and the fund’s cash position fluctuate over time.