PPG executive granted phantom stock units

PPG Industries senior vice president and chief human resources officer Robert L. Massy received a grant of 0.3918 Phantom Stock Units on May 15, 2026 at a reference price of $102.64 per unit.

Rhea-AI Filing Summary

PPG Industries senior vice president and chief human resources officer Robert L. Massy received a grant of 0.3918 Phantom Stock Units on May 15, 2026 at a reference price of $102.64 per unit. This increased his holdings in the company’s deferred compensation plan to 170.9674 Phantom Stock Units. Each unit represents an interest in an unfunded company stock fund and is designed to convert into one share of common stock after termination of employment, with the attributed share count fluctuating over time based on the stock’s fair market value and cash in the fund.

Insider Trade Summary

Grant/Award: 0.3918 shares

Grant/Award 1 txn

Insider Massy Robert L.

Role Sr. VP and Chief HR Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.3918	$102.64	$40.21

Holdings After Transaction: Phantom Stock Units — 170.9674 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 units granted: 0.3918 units Reference price per unit: $102.64 per unit Total phantom units after grant: 170.9674 units +1 more

4 metrics

Phantom units granted 0.3918 units Grant on May 15, 2026 to Robert L. Massy

Reference price per unit $102.64 per unit Price associated with the May 15, 2026 phantom grant

Total phantom units after grant 170.9674 units Massy’s phantom stock balance in deferred compensation plan

Conversion ratio 1 unit : 1 share Phantom Stock Units convert to common stock one-for-one

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund, common stock

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

"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"

common stock financial

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

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

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

What insider transaction did PPG (PPG) report for Robert L. Massy?

PPG reported that executive Robert L. Massy received a grant of 0.3918 Phantom Stock Units. These units are part of a deferred compensation arrangement and reference a price of $102.64 per unit, adding to his existing phantom unit holdings.

How many Phantom Stock Units does Robert L. Massy hold after this PPG grant?

After the latest grant, Robert L. Massy holds a total of 170.9674 Phantom Stock Units. This figure represents his accumulated interests in PPG’s deferred compensation plan tied to the company’s common stock fund.

What are Phantom Stock Units in PPG’s deferred compensation plan?

Phantom Stock Units are interests in an unfunded unitized company stock fund made up of PPG stock and cash. Their attributed share count can change with PPG’s stock fair market value and the cash level in the fund over time.

When do PPG Phantom Stock Units held by Robert L. Massy convert to common stock?

The Phantom Stock Units convert to PPG common stock on a one-for-one basis after termination of Massy’s employment. Until then, they remain as bookkeeping units within the company’s deferred compensation plan rather than actual issued shares.

Does this PPG Form 4 show a stock purchase or sale by Robert L. Massy?

The Form 4 shows an acquisition of Phantom Stock Units as a grant or award, not an open-market stock purchase or sale. It reflects compensation-related accrual in a deferred plan rather than trading in PPG common shares.

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

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Accepted by SEC EDGAR 05/18/2026 - 11:33 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^*

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)
05/15/2026

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)	05/15/2026		A		0.3918		(2)	(2)	Common Stock	0.3918	$102.64	170.9674(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	05/18/2026
	** 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)