PPG executive granted new phantom stock units

PPG Industries senior vice president Alisha Bellezza reported a small compensation-related award of phantom stock units tied to PPG common stock.

Rhea-AI Filing Summary

PPG Industries senior vice president Alisha Bellezza reported a small compensation-related award of phantom stock units tied to PPG common stock. She acquired 0.4201 phantom stock units, valued for reporting purposes at $112.98 per unit, which convert to common stock on a one-for-one basis after termination of employment. Following this grant, she holds a total of 162.3921 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan. These units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash, so the number of units attributed to her can change over time with movements in the stock price and cash levels in the fund.

Insider Trade Summary

Grant/Award: 0.4201 shares

Grant/Award 1 txn

Insider Bellezza Alisha

Role Sr. VP, Automotive Coatings

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.4201	$112.98	$47.46

Holdings After Transaction: Phantom Stock Units — 162.3921 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of employment with PPG.
3. F3. 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.

Key Figures

Phantom stock units granted: 0.4201 units Reference value per unit: $112.98 per unit Total phantom stock units held: 162.3921 units +1 more

4 metrics

Phantom stock units granted 0.4201 units Award on 2026-05-29

Reference value per unit $112.98 per unit Grant valuation for phantom units

Total phantom stock units held 162.3921 units Holdings after reported transaction

Conversion ratio 1:1 to common stock Phantom units convert to PPG common shares

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund, fair market value of the issuer's common stock

4 terms

Phantom Stock Units financial

"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan."

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 financial

"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan."

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

unfunded unitized company stock fund financial

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

fair market value of the issuer's common stock financial

"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"

FAQ

What did PPG (PPG) executive Alisha Bellezza report in this Form 4?

Alisha Bellezza reported receiving 0.4201 phantom stock units as a compensation-related award. These units track PPG common stock and increase her total phantom stock holdings to 162.3921 units in the company’s deferred compensation plan.

How many PPG phantom stock units does Alisha Bellezza now hold?

After the latest award, Alisha Bellezza holds 162.3921 phantom stock units. These units are part of PPG’s deferred compensation plan and reflect interests in a unitized fund composed of PPG stock and cash, so the attributed unit count can fluctuate over time.

What is the value reference used for Alisha Bellezza’s new phantom stock units at PPG?

The new 0.4201 phantom stock units were reported at a reference value of $112.98 per unit. This value reflects the fair market value of PPG common stock used for the award under the deferred compensation plan on the transaction date.

When do PPG phantom stock units for Alisha Bellezza convert into common stock?

The phantom stock units convert into PPG common stock on a one-for-one basis after termination of employment. Until then, they remain bookkeeping units in the deferred compensation plan, whose value tracks PPG’s stock and related cash in the plan’s unitized fund.

Do Alisha Bellezza’s phantom stock units at PPG change without new grants or sales?

Yes. The footnotes state that the number of phantom stock units attributed to her may change without her volition. Fluctuations depend on PPG’s common stock fair market value and the amount of cash held in the unitized company stock fund within the deferred compensation plan.

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Accepted by SEC EDGAR 06/01/2026 - 01:00 PM 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^*

Bellezza Alisha

(Last) (First) (Middle)

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. VP, Automotive Coatings

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

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)	05/29/2026		A		0.4201		(2)	(2)	Common Stock	0.4201	$112.98	162.3921(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 Alisha E. Bellezza	06/01/2026
	** 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)