PPG director Topalian receives 16 phantom stock units

Topalian Leon J reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Topalian Leon J reported acquisition or exercise transactions in this Form 4 filing.

PPG Industries director Leon J. Topalian received a compensation-related grant of phantom stock units. On this Form 4, he was awarded 16.0834 phantom stock units at a reference price of $119.34 per unit. Each phantom stock unit is convertible into one share of PPG common stock after his termination of service as a director.

Following this award, Topalian holds a total of 1,250.8423 phantom stock units in the PPG Industries Deferred Compensation Plan for Directors. These units represent interests in an unfunded unitized company stock fund invested in PPG stock and cash, and the attributed number of units may change over time with market value and cash levels in the fund.

Insider Trade Summary

Grant/Award: 16.0834 shares

Grant/Award 1 txn

Insider Topalian Leon J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	16.0834	$119.34	$2K

Holdings After Transaction: Phantom Stock Units — 1,250.8423 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of service as a Director of PPG Industries, Inc.
3. F3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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.

FAQ

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

What insider transaction did PPG (PPG) report for Leon J. Topalian?

PPG reported that director Leon J. Topalian received 16.0834 phantom stock units as a compensation-related award. These units are tied to PPG’s common stock and were added to his existing holdings within the company’s Deferred Compensation Plan for Directors.

How many phantom stock units does Leon J. Topalian hold at PPG (PPG) after this filing?

After the reported award, Leon J. Topalian holds a total of 1,250.8423 phantom stock units. This total reflects all phantom units credited to him under PPG’s Deferred Compensation Plan for Directors, which tracks a fund invested in PPG stock and cash.

What are phantom stock units in the context of PPG (PPG)?

At PPG, phantom stock units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash. They are bookkeeping units linked to the share price and may convert into common stock on a one-for-one basis under specified conditions.

When do PPG (PPG) phantom stock units for directors convert to common stock?

PPG’s filing states that these phantom stock units convert to common stock on a one-for-one basis after the director’s termination of service. This means actual shares are issued only when the director leaves the board, not immediately at the time of the grant.

Does the number of PPG (PPG) phantom stock units held by a director stay constant?

The number of phantom stock units attributed to a director can change over time. It varies based on the fair market value of PPG’s common stock and the amount of cash in the related fund, even without additional discretionary transactions by the director.

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Accepted by SEC EDGAR 06/15/2026 - 04:01 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^*

Topalian Leon J

(Last) (First) (Middle)

C/O 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		16.0834		(2)	(2)	Common Stock	16.0834	$119.34	1,250.8423(3)	D

Explanation of Responses:

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

2. After termination of service as a Director of PPG Industries, Inc.

3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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 Leon J. Topalian	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)