PPG executive granted phantom stock units

PPG Industries senior vice president Juliane M. Hefel received a small grant of phantom stock units as compensation.

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Rhea-AI Filing Summary

PPG Industries senior vice president Juliane M. Hefel received a small grant of phantom stock units as compensation. On this Form 4, she acquired 1.5135 phantom stock units, each tied to the value of PPG common stock at $112.98 per unit reference price.

After this grant, she holds a total of 1,396.8241 phantom stock units in the PPG Industries Deferred Compensation Plan. These units convert into PPG common stock on a one-for-one basis after termination of employment and can fluctuate over time with the stock price and cash in the plan.

Insider Trade Summary

Grant/Award: 1.5135 shares

Grant/Award 1 txn

Insider Hefel Juliane M.

Role Sr. VP, Ind Coatings & Sp Prod

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1.5135	$112.98	$171.00

Holdings After Transaction: Phantom Stock Units — 1,396.8241 contracts (Direct)

Footnotes (3)

F1. The security converts to common stock on a one-for-one basis.
F2. After termination of employment with PPG.
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: 1.5135 units Reference price per unit: $112.98 per unit Total phantom units after transaction: 1,396.8241 units +1 more

4 metrics

Phantom stock units granted 1.5135 units Grant/award acquisition on 2026-05-29

Reference price per unit $112.98 per unit Transaction price per phantom stock unit

Total phantom units after transaction 1,396.8241 units Holdings in PPG Deferred Compensation Plan

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

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund, one-for-one basis

4 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 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"

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 insider transaction did PPG (PPG) report for Juliane M. Hefel?

PPG reported that senior vice president Juliane M. Hefel received 1.5135 phantom stock units as a compensation award. These units are tied to PPG’s common stock value and increase her total phantom stock holdings within the company’s Deferred Compensation Plan.

How many phantom stock units does Juliane M. Hefel hold after this PPG Form 4?

After this transaction, Juliane M. Hefel holds 1,396.8241 phantom stock units in PPG’s Deferred Compensation Plan. This total reflects all phantom stock interests attributed to her and will vary over time with stock price changes and cash levels in the plan.

What are phantom stock units in the PPG Industries Deferred Compensation Plan?

Phantom stock units represent interests in an unfunded unitized company stock fund within PPG’s Deferred Compensation Plan. They track the value of PPG common stock plus cash in the fund and are designed to mirror stock performance without issuing actual shares until conversion.

When do PPG phantom stock units held by Juliane M. Hefel convert to common stock?

The phantom stock units convert to PPG common stock on a one-for-one basis after termination of her employment with PPG. Until then, the units remain as plan interests whose attributed share count can change with the fund’s stock and cash values.

Does this PPG Form 4 show a stock market purchase or sale by Juliane M. Hefel?

The Form 4 shows a grant or award acquisition of phantom stock units, not an open-market stock purchase or sale. It is a compensation-related entry in the Deferred Compensation Plan rather than a direct trading decision in PPG’s common stock.

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

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Accepted by SEC EDGAR 06/01/2026 - 01:02 PM EDT

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^*

Hefel Juliane M.

(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, Ind Coatings & Sp Prod

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	05/29/2026		A		1.5135		⁽²⁾	⁽²⁾	Common Stock	1.5135	$112.98	1,396.8241⁽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 Juliane M. Hefel	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)

Source: View Original Filing on SEC EDGAR