[Form 4] PPG INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

PPG Industries (PPG) reported an insider equity-related transaction by a senior executive. Chancey E. Hagerty, Senior Vice President, Automotive Refinish Coatings, filed a Form 4 for a change in his holdings of deferred equity. On 11/14/2025, he acquired 17.9685 phantom stock units linked to PPG common stock at a reference price of $97.03 per share. These phantom stock units are held in the PPG Industries, Inc. Deferred Compensation Plan and in total Hagerty now holds 135.1116 phantom stock units in the plan. Each phantom stock unit converts into one share of PPG common stock, generally after termination of employment, and the number of units can change over time as the plan’s unitized stock-and-cash fund fluctuates with PPG’s share price and cash balances.

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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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^*

Hagerty Chancey E.

(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, Auto. Refinish Ctgs.

3. Date of Earliest Transaction (Month/Day/Year)
11/14/2025

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
Phamtom Stock Units	(1)	11/14/2025		A		17.9685		(2)	(2)	Common Stock	17.9685	$97.03	135.1116(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 Chancey E. Hagerty	11/17/2025
	** 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) disclose for Chancey E. Hagerty?

PPG disclosed that Senior Vice President Chancey E. Hagerty acquired 17.9685 phantom stock units tied to PPG common stock on 11/14/2025 through the company’s Deferred Compensation Plan.

How many phantom stock units does the PPG executive hold after this Form 4 transaction?

After the reported transaction, Chancey E. Hagerty beneficially owns 135.1116 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.

What is a phantom stock unit in the context of PPG (PPG)?

At PPG, a phantom stock unit represents an interest in an unfunded unitized company stock fund within the Deferred Compensation Plan. Each unit is linked to PPG common stock and cash, and its value changes with the fair market value of PPG shares and the amount of cash in the fund.

At what price were the newly acquired PPG phantom stock units referenced?

The 17.9685 phantom stock units reported for Chancey E. Hagerty were tied to PPG common stock at a reference price of $97.03 per share.

When do PPG phantom stock units convert into common stock?

According to the disclosure, each phantom stock unit converts to PPG common stock on a one-for-one basis, generally after termination of employment with PPG.

Why can the number of PPG phantom stock units change without the executive’s action?

The number of phantom stock units attributed to a participant can change without their volition because the units represent interests in a unitized stock and cash fund whose value varies with the fair market value of PPG common stock and the cash held in the fund.