PPG (NYSE: PPG) exec defers 918 shares into deferred phantom units

Rhea-AI Filing Summary

PPG Industries Inc senior vice president Juliane M. Hefel reported an acquisition of 918 phantom stock units on February 18, 2026. These units were received by deferring the settlement of a 2023 restricted stock unit performance award into the PPG deferred compensation plan instead of taking 918 shares of common stock.

After this grant, she holds a total of 1,148.3947 phantom stock units in the plan. The units represent interests in a unitized company stock fund of PPG stock and cash, and amounts are payable after termination of employment.

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^*

Hefel Juliane M.

(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, Ind Coatings & Sp Prod

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

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)	02/18/2026		A		918		(2)	(2)	Common Stock	918	(1)	1,148.3947(3)	D

Explanation of Responses:

1. Upon the settlement of the 2023 restricted stock unit performance award, the reporting person deferred the receipt of 918 shares of common stock and received instead 918 phantom stock units pursuant to the PPG Industries, Inc. Deferred Compensation Plan.

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 funds.

Remarks:

	/s/ Greg E. Gordon, Attorney-in-Fact for Juliane M. Hefel	02/20/2026
	** 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 Juliane M. Hefel?

PPG reported that senior vice president Juliane M. Hefel acquired 918 phantom stock units. The units came from deferring settlement of a 2023 restricted stock unit performance award into the company’s deferred compensation plan instead of receiving 918 shares of PPG common stock.

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

After the latest transaction, Juliane M. Hefel holds a total of 1,148.3947 phantom stock units. This figure reflects all her interests in the PPG Industries deferred compensation plan’s unitized company stock fund invested in PPG stock and cash equivalents.

What is the nature of the 918 phantom stock units reported by PPG (PPG)?

The 918 phantom stock units represent deferred compensation tied to a 2023 restricted stock unit performance award. Instead of receiving shares of PPG common stock, Hefel elected to defer them into phantom units within the company’s deferred compensation plan for future payout.

When will the phantom stock units reported by PPG (PPG) be paid to Juliane M. Hefel?

The phantom stock units are payable to Juliane M. Hefel after termination of employment with PPG. Until then, the units remain in the deferred compensation plan and their attributed share count may change with PPG’s stock value and cash levels in the plan.

How do phantom stock units work in the PPG (PPG) deferred compensation plan?

PPG’s phantom stock units represent interests in an unfunded, unitized company stock fund holding PPG stock and cash. The number of units attributed to a participant can change over time based on PPG’s share price and the amount of cash within the plan’s investment fund.