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PPG Industries (NYSE: PPG) awards new phantom stock units to director

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PPG Industries director Gary R. Heminger received a grant of 67.1958 Phantom Stock Units linked to PPG common stock. These units were valued at $119.3400 per unit for this award and convert into common shares on a one-for-one basis after his service as a director ends.

Following this grant, Heminger now holds a total of 12,817.1328 phantom stock units in PPG’s Deferred Compensation Plan for Directors. The units represent interests in an unfunded company stock fund whose credited share amount can change with PPG’s stock price and cash in the fund.

Positive

  • None.

Negative

  • None.
Insider Heminger Gary R.
Role null
Type Security Shares Price Value
Grant/Award Phantom Stock Units 67.196 $119.34 $8K
Holdings After Transaction: Phantom Stock Units — 12,817.133 shares (Direct, null)
Footnotes (1)
  1. The security converts to common stock on a one-for-one basis. After termination of service as a Director of PPG Industries, Inc. 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.
Phantom units granted 67.1958 units Grant of Phantom Stock Units on 2026-06-12
Reference price per unit $119.3400 per unit Price used for the 67.1958-unit grant
Total phantom units after grant 12,817.1328 units Heminger’s Phantom Stock Units after the award
Conversion ratio 1 unit : 1 share Phantom Stock Units convert to PPG common stock
Phantom Stock Units financial
"Phantom Stock Units represent interests in an unfunded unitized company stock fund"
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 for Directors financial
"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors."
A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.
unfunded unitized company stock fund financial
"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Heminger Gary R.
(Last)(First)(Middle)
C/O 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/12/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)06/12/2026A67.1958 (2) (2)Common Stock67.1958$119.3412,817.1328(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 Gary R. Heminger06/15/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did PPG (PPG) director Gary R. Heminger report in this Form 4?

Heminger reported receiving 67.1958 Phantom Stock Units as a compensation award. These derivative units track PPG common stock and increase his total phantom holdings to 12,817.1328 units in the company’s deferred compensation plan for directors.

How do Gary R. Heminger’s Phantom Stock Units in PPG (PPG) work?

The Phantom Stock Units convert into PPG common stock on a one-for-one basis after Heminger’s board service ends. They represent interests in an unfunded stock fund, so the number of units credited can change with PPG’s share price and cash within the plan.

Is Gary R. Heminger buying or selling PPG (PPG) shares in this filing?

This filing shows a grant of 67.1958 Phantom Stock Units, not an open-market buy or sale. The award is classified as a derivative compensation grant that increases his deferred phantom position rather than reflecting a cash purchase or sale of common shares.

What is Heminger’s total phantom position in PPG (PPG) after this grant?

After the 67.1958-unit grant, Heminger holds 12,817.1328 Phantom Stock Units. These units are part of PPG’s Deferred Compensation Plan for Directors and mirror company stock performance, ultimately settling in common shares when his board service concludes.

What does the deferred compensation plan referenced in the PPG (PPG) Form 4 represent?

The plan is an unfunded deferred compensation arrangement for directors, using Phantom Stock Units tied to a unitized PPG stock fund of stock and cash. The number of units attributed can fluctuate over time with changes in PPG’s stock price and fund cash levels.