PPG CEO granted 35.9 phantom stock units

PPG’s Chairman and CEO received additional phantom stock units under the company’s deferred compensation plan, increasing his notional equity-linked holdings.

Rhea-AI Filing Summary

PPG INDUSTRIES INC (PPG) reported that Chairman and CEO Timothy M. Knavish received an award of 35.8994 Phantom Stock Units on September 15, 2026, credited at a reference value of $104.89 per unit. These units are part of an unfunded deferred compensation plan, convert into common stock on a one-for-one basis, and are generally payable after termination of employment. Following this award, Knavish holds a total of 12,873.0358 Phantom Stock Units under the plan, and the attributed number of units may change over time with the fund’s stock and cash value.

Insider Trade Summary

Grant/Award: 35.8994 shares

Grant/Award 1 txn

Insider KNAVISH TIMOTHY M

Role Chairman and CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	35.8994	$104.89	$4K

Holdings After Transaction: Phantom Stock Units — 12,873.0358 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 awarded: 35.8994 units Reference value per Phantom Stock Unit: $104.89 per unit Total Phantom Stock Units after transaction: 12,873.0358 units +2 more

5 metrics

Phantom Stock Units awarded 35.8994 units Grant to Timothy M. Knavish on September 15, 2026

Reference value per Phantom Stock Unit $104.89 per unit Value used for the September 15, 2026 award

Total Phantom Stock Units after transaction 12,873.0358 units Aggregate units held by Timothy M. Knavish in the Deferred Compensation Plan after the award

Conversion ratio to common stock 1 unit for 1 share Each Phantom Stock Unit converts into one share of PPG common stock

Transaction type Grant, award, or other acquisition Phantom Stock Units credited as a derivative-type compensation award

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund, fair market value

4 terms

Phantom Stock Units financial

"Total of all phantom stock units held by the reporting person"

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

"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

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

fair market value financial

"may change from time to time ... depending on the fair market value of the issuer's common stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

FAQ

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

What transaction did PPG (PPG) report for Timothy M. Knavish?

PPG reported that Chairman and CEO Timothy M. Knavish received a grant of 35.8994 Phantom Stock Units on September 15, 2026, as a compensation-related award under the PPG Industries, Inc. Deferred Compensation Plan linked to the company’s common stock.

How many Phantom Stock Units does the PPG (PPG) CEO hold after this Form 4 transaction?

After the September 15, 2026 award, Timothy M. Knavish holds a total of 12,873.0358 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan, representing his aggregate notional interests in the plan’s unitized company stock fund.

What is the conversion feature of the Phantom Stock Units reported by PPG (PPG)?

The filing states that each Phantom Stock Unit converts to PPG common stock on a one-for-one basis. Settlement generally occurs after termination of employment, so the units function as deferred, stock-linked compensation rather than current shares of common stock.

When are the PPG (PPG) Phantom Stock Units payable to the reporting person?

According to the disclosure, the Phantom Stock Units are generally payable after termination of employment with PPG. Until then, they remain notional interests in an unfunded unitized company stock fund within the PPG Industries, Inc. Deferred Compensation Plan.

How is the value of the PPG (PPG) Phantom Stock Units determined over time?

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

Was the PPG (PPG) CEO’s Phantom Stock Unit award made under a Rule 10b5-1 plan?

The Form 4 indicates the Rule 10b5-1 checkbox as not affirmed, and there is no footnote stating the transaction was made pursuant to a Rule 10b5-1 trading plan, so the award is reported as a standard compensation-related acquisition.

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

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Available on EDGAR 09/16/2026 - 12:18 PM Accepted by SEC EDGAR 09/16/2026 - 12:18 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^*

KNAVISH TIMOTHY 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

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)	09/15/2026		A		35.8994		(2)	(2)	Common Stock	35.8994	$104.89	12,873.0358(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 Timothy M. Knavish	09/16/2026
	** 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)