PPG (PPG) senior VP acquires phantom stock units in deferred plan

Rhea-AI Filing Summary

PPG Industries senior vice president Alisha Bellezza reported an acquisition of phantom stock units tied to PPG common shares. She was granted 0.6118 phantom stock units at a reference price of $123.27 per unit, bringing her total holdings in this deferred compensation plan to 157.1804 units.

Each phantom stock unit converts into one share of PPG common stock after her employment with PPG ends. These units represent an interest in a company stock fund within a deferred compensation plan and can fluctuate in value based on PPG’s share price and cash in the fund.

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
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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)
02/27/2026

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)	02/27/2026		A		0.6118		(2)	(2)	Common Stock	0.6118	$123.27	157.1804(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	03/02/2026
	** 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 senior vice president Alisha Bellezza acquired 0.6118 phantom stock units. These units are part of a deferred compensation plan tied to PPG common stock and increase her total phantom unit holdings to 157.1804, reflecting additional long-term, stock-linked compensation.

What are phantom stock units in PPG (PPG)'s deferred compensation plan?

Phantom stock units are bookkeeping entries that mirror PPG’s common stock value within a deferred compensation plan. They represent interests in a unitized company stock fund of stock and cash, and their number can change over time as the fund’s value and cash balance fluctuate.

How many phantom stock units does Alisha Bellezza hold at PPG (PPG) after this Form 4?

After this transaction, Alisha Bellezza holds a total of 157.1804 phantom stock units. This figure reflects all phantom stock units credited to her account in PPG’s deferred compensation plan, which track the value of PPG common stock on a one-for-one basis at conversion.

At what price were the new PPG (PPG) phantom stock units credited to Alisha Bellezza?

The 0.6118 newly acquired phantom stock units were credited at a reference price of $123.27 per unit. That price is used to determine how many units are added to her account based on the compensation amount allocated into PPG’s deferred compensation stock fund.

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

PPG’s phantom stock units convert into common stock on a one-for-one basis after termination of employment with PPG. Until then, they remain as notional units in the deferred compensation plan, tracking the value of PPG shares and related cash within the stock fund.

Do PPG (PPG) phantom stock units represent actual shares before conversion?

Before conversion, phantom stock units do not represent actual issued shares but rather an interest in an unfunded stock fund. Their value and the number attributed can change over time, depending on PPG’s share price movements and cash levels within the deferred compensation investment option.