PPG Industries (NYSE: PPG) director acquires 117.6469 phantom stock units

Rhea-AI Filing Summary

PPG Industries director Michael W. Lamach reported an acquisition of derivative securities tied to the company’s stock. On 12/12/2025, he acquired 117.6469 phantom stock units at a price of $103.54 per unit under the PPG Industries, Inc. Deferred Compensation Plan for Directors. These phantom stock units convert into common stock on a one-for-one basis after his service as a director ends. Following this transaction, he beneficially owned 13,984.4963 phantom stock units, which represent interests in an unfunded unitized company stock fund composed of PPG stock and cash, and the number of units attributed to him may change over time based on the fair market value of the stock and the 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
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^*

LAMACH MICHAEL W

(Last) (First) (Middle)

C/O 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025

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)	12/12/2025		A		117.6469		(2)	(2)	Common Stock	117.6469	$103.54	13,984.4963(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 Michael W. Lamach	12/15/2025
	** 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 director Michael W. Lamach?

Director Michael W. Lamach reported acquiring 117.6469 phantom stock units of PPG Industries on 12/12/2025 under a deferred compensation plan.

What are the key terms of the phantom stock units reported at PPG (PPG)?

The phantom stock units convert into PPG common stock on a one-for-one basis after the director’s service ends and are priced at $103.54 per unit in this transaction.

How many phantom stock units does the PPG (PPG) director own after this transaction?

After the reported acquisition, Michael W. Lamach beneficially owned 13,984.4963 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan for Directors.

How do PPG (PPG) phantom stock units in the directors’ plan work?

The phantom stock units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash, and the number of units can change based on the stock’s fair market value and the amount of cash in the fund.

When do the PPG (PPG) phantom stock units become common stock for the director?

The phantom stock units reported for Michael W. Lamach convert into PPG common stock after termination of service as a director of PPG Industries, Inc.

Is the reported PPG (PPG) insider transaction related to derivative securities?

Yes. The filing reports a transaction in derivative securities described as phantom stock units, which are tied to PPG Industries common stock on a one-for-one basis.