PPG senior VP reports new phantom stock units in Form 4 filing

Rhea-AI Filing Summary

PPG Industries (PPG) filed a Form 4 reporting deferred equity compensation activity for a senior executive. Kevin D. Braun, Senior Vice President of Operations, acquired 21.8048 phantom stock units on 11/14/2025 at a reference price of $97.03 per unit under the PPG Industries, Inc. Deferred Compensation Plan. Each phantom stock unit is designed to convert into one share of PPG common stock after termination of employment, reflecting deferred, non-cash compensation rather than an immediate stock purchase. Following this transaction, Braun held a total of 746.8566 phantom stock units in the plan.

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

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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^*

Braun Kevin D.

(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, Operations

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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)	11/14/2025		A		21.8048		(2)	(2)	Common Stock	21.8048	$97.03	746.8566(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 Kevin D. Braun	11/17/2025
	** 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 did PPG (PPG) report in this Form 4 filing?

PPG Industries reported that Senior Vice President of Operations Kevin D. Braun acquired 21.8048 phantom stock units on 11/14/2025 under a deferred compensation plan.

Who is the reporting person in this PPG (PPG) Form 4?

The reporting person is Kevin D. Braun, who serves as Senior Vice President, Operations of PPG Industries, Inc.

How many phantom stock units does Kevin D. Braun hold after the reported transaction?

After the reported transaction, Kevin D. Braun beneficially owned a total of 746.8566 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.

What are phantom stock units in the context of PPG (PPG)?

At PPG, phantom stock units represent interests in an unfunded unitized company stock fund comprised of PPG stock and cash. They are designed to convert to common stock on a one-for-one basis, typically after termination of employment.

At what price were the new phantom stock units credited in this PPG Form 4?

The 21.8048 phantom stock units reported in the Form 4 were associated with a reference price of $97.03 per unit of PPG common stock.

When will the PPG phantom stock units reported in this Form 4 convert into common stock?

According to the filing, the phantom stock units are designed to convert into PPG common stock on a one-for-one basis after termination of employment with PPG Industries.

Is this PPG (PPG) Form 4 transaction a direct purchase of common stock?

No. The transaction involves phantom stock units in a deferred compensation plan, not an immediate open-market purchase of PPG common stock.