PPG Industries (NYSE: PPG) SVP adds phantom stock units in Form 4 filing

Rhea-AI Filing Summary

PPG Industries, Inc. officer Alisha E. Bellezza, Senior Vice President of Automotive Coatings, reported acquiring 19.3332 phantom stock units on 11/28/2025 under the company’s deferred compensation plan. Each phantom stock unit is designed to convert into one share of PPG common stock after termination of employment. Following this transaction, Bellezza beneficially held a total of 117.3689 phantom stock units. The units are valued based on a unit price of $100.04 and represent interests in an unfunded company stock fund made up of PPG stock and cash, so the attributed number of units can change over time with movements in the stock price and cash balance.

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)
11/28/2025

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)	11/28/2025		A		19.3332		(2)	(2)	Common Stock	19.3332	$100.04	117.3689(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	12/01/2025
	** 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 in this Form 4?

The filing shows that Alisha E. Bellezza, Senior Vice President of Automotive Coatings at PPG Industries, Inc., acquired 19.3332 phantom stock units on 11/28/2025 in the company’s deferred compensation plan.

How many phantom stock units does the PPG officer hold after the reported transaction?

After the reported acquisition, Alisha E. Bellezza beneficially owned 117.3689 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan, according to the Form 4.

What are phantom stock units in PPG’s Deferred Compensation Plan?

Phantom stock units represent interests in an unfunded unitized company stock fund consisting of PPG stock and cash. The number of units attributed to the participant can change over time based on the fair market value of PPG common stock and the amount of cash in the fund.

When do PPG phantom stock units convert into common stock?

The filing states that each phantom stock unit converts into PPG common stock on a one-for-one basis and that this conversion occurs after termination of employment with PPG.

What transaction price is associated with the phantom stock units reported by PPG?

The Form 4 indicates a unit price of $100.04 for the 19.3332 phantom stock units acquired by Alisha E. Bellezza on 11/28/2025.

What is Alisha E. Bellezza’s role at PPG Industries, Inc.?

According to the filing, Alisha E. Bellezza is an officer of PPG Industries, Inc., serving as Senior Vice President, Automotive Coatings.