PPG director awarded phantom stock units

PPG Industries director Michael Nally received a grant of 56.3136 Phantom Stock Units, tied to a reference price of $119.34 per unit.

Rhea-AI Filing Summary

PPG Industries director Michael Nally received a grant of 56.3136 Phantom Stock Units, tied to a reference price of $119.34 per unit. These units convert into an equal number of common shares after his service as a director ends. Following this award, he holds a total of 10,338.8435 phantom stock units in the company’s Deferred Compensation Plan for Directors.

Insider Trade Summary

Grant/Award: 56.3136 shares

Grant/Award 1 txn

Insider Nally Michael

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	56.3136	$119.34	$7K

Holdings After Transaction: Phantom Stock Units — 10,338.8435 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 units granted: 56.3136 units Reference price per unit: $119.34 per unit Total phantom units after grant: 10,338.8435 units +1 more

4 metrics

Phantom units granted 56.3136 units Grant of Phantom Stock Units on 2026-06-12

Reference price per unit $119.34 per unit Price used for the phantom unit award

Total phantom units after grant 10,338.8435 units Total Phantom Stock Units held after transaction

Conversion ratio 1 unit : 1 share Phantom units convert to common stock one-for-one

Key Terms

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

3 terms

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"

FAQ

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

What insider transaction did PPG (PPG) director Michael Nally report?

Director Michael Nally reported receiving 56.3136 Phantom Stock Units as a compensation-related award. These units are part of PPG’s Deferred Compensation Plan for Directors and are linked to the company’s common stock based on a reference price of $119.34 per unit.

How many phantom stock units does Michael Nally now hold at PPG (PPG)?

After the latest grant, Michael Nally holds a total of 10,338.8435 Phantom Stock Units. This total reflects all phantom units credited to him under PPG’s Deferred Compensation Plan for Directors, which tracks the value of the company’s common stock over time.

When do PPG (PPG) phantom stock units convert into common stock for Michael Nally?

The phantom stock units convert into PPG common stock on a one-for-one basis after Nally’s termination of service as a director. This means each unit becomes one share at that time, aligning director compensation with long-term shareholder value.

What is a Phantom Stock Unit in the context of PPG (PPG)?

At PPG, Phantom Stock Units represent interests in an unfunded unitized company stock fund within the Deferred Compensation Plan for Directors. They track the value of PPG common stock and associated cash, and the attributed share count can change with stock price and fund cash levels.

Was the PPG (PPG) transaction by Michael Nally a market buy or sell?

The transaction was a grant or award acquisition of 56.3136 Phantom Stock Units, not an open-market buy or sell. It reflects compensation granted to Nally as a director rather than a discretionary trade in PPG common stock on the open market.

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

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Accepted by SEC EDGAR 06/15/2026 - 03:59 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^*

Nally Michael

(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		56.3136		(2)	(2)	Common Stock	56.3136	$119.34	10,338.8435(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 Michael Nally	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)