PPG executive granted new phantom stock units

PPG Industries Inc senior vice president Juliane M. Hefel received a grant of 2.4787 phantom stock units tied to PPG common stock.

Rhea-AI Filing Summary

PPG Industries Inc senior vice president Juliane M. Hefel received a grant of 2.4787 phantom stock units tied to PPG common stock. These units were awarded at a reference price of $102.64 per unit and are credited under the company’s Deferred Compensation Plan.

The phantom stock units convert into an equal number of PPG common shares on a one-for-one basis after termination of employment with PPG. Following this award, Hefel now holds a total of 1,396.8793 phantom stock units in the plan, whose value fluctuates with PPG’s stock price and related cash in the fund.

Insider Trade Summary

Grant/Award: 2.4787 shares

Grant/Award 1 txn

Insider Hefel Juliane M.

Role Sr. VP, Ind Coatings & Sp Prod

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	2.4787	$102.64	$254.41

Holdings After Transaction: Phantom Stock Units — 1,396.8793 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 stock units granted: 2.4787 units Reference price per unit: $102.64 per unit Total phantom units after grant: 1,396.8793 units

3 metrics

Phantom stock units granted 2.4787 units Grant on 2026-05-15

Reference price per unit $102.64 per unit Phantom stock unit grant value

Total phantom units after grant 1,396.8793 units Holdings following reported transaction

Key Terms

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

3 terms

Phantom Stock Units financial

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

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 comprised of stock and cash."

FAQ

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

What did PPG (PPG) executive Juliane Hefel report in this Form 4?

Juliane Hefel reported receiving 2.4787 phantom stock units linked to PPG common stock. The award was made under PPG’s Deferred Compensation Plan and increases her total phantom stock holdings to 1,396.8793 units that track the value of PPG shares and related cash.

How many phantom stock units does Juliane Hefel now hold at PPG (PPG)?

After this grant, Juliane Hefel holds 1,396.8793 phantom stock units in PPG’s Deferred Compensation Plan. These units represent interests in a unitized company stock fund whose value changes with PPG’s share price and the amount of cash in the fund over time.

What is the size and reference price of the new phantom stock grant at PPG (PPG)?

The new grant to Juliane Hefel consists of 2.4787 phantom stock units at a reference price of $102.64 per unit. This reference value reflects the underlying PPG common stock used for crediting units within the company’s Deferred Compensation Plan structure.

When do PPG (PPG) phantom stock units held by Juliane Hefel convert to common shares?

The phantom stock units convert into PPG common stock on a one-for-one basis after termination of employment with PPG. Until then, they remain as bookkeeping units in the Deferred Compensation Plan, fluctuating with the fair market value of PPG stock and related cash balances.

What does a phantom stock unit represent in PPG (PPG)’s Deferred Compensation Plan?

A phantom stock unit represents an interest in an unfunded, unitized company stock fund comprised of PPG stock and cash. The number of units attributed to a participant may change over time as PPG’s share price and the amount of cash held in the fund fluctuate.

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

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Accepted by SEC EDGAR 05/18/2026 - 11:32 AM 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^*

Hefel Juliane M.

(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, Ind Coatings & Sp Prod

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		2.4787		(2)	(2)	Common Stock	2.4787	$102.64	1,396.8793(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 Juliane M. Hefel	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)