PPG Industries (PPG) SVP and General Counsel reports phantom stock unit acquisition

Rhea-AI Filing Summary

PPG Industries reported a routine insider holdings update for a senior executive. Anne M. Foulkes, Senior Vice President and General Counsel, filed as a single reporting person. On 12/31/2025, she acquired 17.9936 phantom stock units of PPG common stock through the PPG Industries, Inc. Deferred Compensation Plan at a derivative security price of $102.46 per unit. Each phantom stock unit is designed to convert into one share of common stock after her termination of employment with PPG. Following this transaction, she beneficially owned a total of 757.7056 phantom stock units in the plan, which track the value of PPG stock within an unfunded company stock fund made up of stock and cash and may change over time with market value and cash levels.

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
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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^*

Foulkes Anne M.

(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 and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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)	12/31/2025		A		17.9936		(2)	(2)	Common Stock	17.9936	$102.46	757.7056(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 Anne M. Foulkes	01/02/2026
	** 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.

FAQ

What insider transaction did PPG (PPG) report for Anne M. Foulkes?

PPG disclosed that Anne M. Foulkes, Senior Vice President and General Counsel, acquired 17.9936 phantom stock units tied to PPG common stock on 12/31/2025 under a deferred compensation plan.

What are the terms of the phantom stock units reported by PPG (PPG)?

The filing states that each phantom stock unit converts to common stock on a one-for-one basis and is scheduled to convert after termination of employment with PPG.

How many phantom stock units does the PPG (PPG) executive hold after this transaction?

After the reported transaction, the executive beneficially owned a total of 757.7056 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.

What price is associated with the PPG (PPG) phantom stock units in this filing?

The derivative security entry shows a price of $102.46 per phantom stock unit for the transaction reported on 12/31/2025.

How do the PPG (PPG) phantom stock units work within the deferred compensation plan?

The phantom stock units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash. The number of units attributed to the participant can change over time based on the fair market value of PPG common stock and the amount of cash in the fund.

Who signed the insider transaction report for PPG (PPG)?

The report was signed by /s/ Greg E. Gordon as Attorney-in-Fact for Anne M. Foulkes, with a signature date of 01/02/2026.