PPG director granted new phantom stock units

PPG Industries director Guillermo Novo received a grant of 24.5887 Phantom Stock Units, which convert into common stock on a one-for-one basis.

Rhea-AI Filing Summary

PPG Industries director Guillermo Novo received a grant of 24.5887 Phantom Stock Units, which convert into common stock on a one-for-one basis. These units were credited at a reference price of $119.34 per unit and are held in the Deferred Compensation Plan for Directors. After this award, Novo holds a total of 13,180.5187 phantom stock units, which generally become payable in common stock after his termination of service as a director.

Insider Trade Summary

Grant/Award: 24.5887 shares

Grant/Award 1 txn

Insider NOVO GUILLERMO

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	24.5887	$119.34	$3K

Holdings After Transaction: Phantom Stock Units — 13,180.5187 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of service as a Director of PPG Industries, Inc.
3. F3. 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.

Key Figures

Phantom Stock Units granted: 24.5887 units Reference price per unit: $119.34 per unit Total Phantom Stock Units after grant: 13,180.5187 units +1 more

4 metrics

Phantom Stock Units granted 24.5887 units Award on June 12, 2026

Reference price per unit <money>$119.34</money> per unit Grant valuation for Phantom Stock Units

Total Phantom Stock Units after grant 13,180.5187 units Balance following reported transaction

Conversion ratio to common stock 1 unit : 1 share Phantom Stock Units convert one-for-one into common stock

Key Terms

Phantom Stock Units, Deferred Compensation Plan for Directors, unfunded, unitized company stock fund, +1 more

5 terms

Phantom Stock Units financial

"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."

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 financial

"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."

unitized company stock fund financial

"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."

conversion on a one-for-one basis financial

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

FAQ

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

What did PPG (PPG) director Guillermo Novo report in this Form 4?

Guillermo Novo reported receiving 24.5887 Phantom Stock Units tied to PPG common stock. These are compensation-related units, not an open-market stock purchase or sale, and increase his total phantom stock holdings to 13,180.5187 units under the company’s director deferred compensation plan.

How do the Phantom Stock Units reported by PPG director Guillermo Novo work?

The Phantom Stock Units convert into PPG common stock on a one-for-one basis. They represent interests in an unfunded unitized company stock fund of stock and cash, with the number of units changing as PPG’s stock price and fund cash balance fluctuate over time.

When can Guillermo Novo’s Phantom Stock Units in PPG be converted into common stock?

The Phantom Stock Units become payable in common stock after termination of his service as a PPG Industries director. They are part of a deferred compensation structure, so settlement is delayed until he is no longer serving on the company’s board of directors.

What is Guillermo Novo’s total Phantom Stock Unit balance at PPG after this transaction?

After the reported award, Guillermo Novo holds 13,180.5187 Phantom Stock Units in the PPG Industries Deferred Compensation Plan for Directors. This figure reflects the total of all phantom units attributed to him as a plan participant following the June 12, 2026 transaction.

Did Guillermo Novo buy or sell PPG common shares in the open market?

No open-market buy or sell of PPG common shares was reported. The Form 4 shows an acquisition coded as a grant of Phantom Stock Units, which are deferred compensation interests rather than direct market purchases or sales of PPG stock.

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

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Accepted by SEC EDGAR 06/15/2026 - 04:00 PM EDT 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^*

NOVO GUILLERMO

(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)

X	Director		10% 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)

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)	06/12/2026		A		24.5887		(2)	(2)	Common Stock	24.5887	$119.34	13,180.5187(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 Guillermo Novo	06/15/2026
	** 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)