PPG (NYSE: PPG) executive gains additional phantom stock units

Rhea-AI Filing Summary

PPG Industries senior vice president Anne M. Foulkes received a small grant of 0.1413 Phantom Stock Units on the company’s deferred compensation plan. These units are linked to PPG common stock and were valued at $106.88 per unit for this award.

The phantom units convert into PPG common stock on a one-for-one basis after termination of employment. Following this grant, Foulkes holds a total of 765.2198 phantom stock units in the plan. The number of units can change over time with the stock’s fair market value and cash levels in the underlying fund.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Foulkes Anne M.

Role Sr. VP, Legal & Spl. Projects

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.141	$106.88	$15.10

Holdings After Transaction: Phantom Stock Units — 765.22 shares (Direct)

Footnotes (1)

1. The security converts to common stock on a one-for-one basis. After termination of employment with PPG. 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 units granted: 0.1413 units Grant valuation price: $106.88 per unit Total phantom units held: 765.2198 units +2 more

5 metrics

Phantom units granted 0.1413 units Grant on 2026-03-31

Grant valuation price $106.88 per unit Reference price for Phantom Stock Units

Total phantom units held 765.2198 units Holdings after transaction

Conversion ratio 1:1 into common stock Phantom Stock Units to PPG common stock

Conversion price field $0.0000 Conversion or exercise price listed for derivative

Key Terms

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

3 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"

Form 4 Insider Transactions: What Each Field Means →

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^*

Foulkes Anne 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, Legal & Spl. Projects

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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)	03/31/2026		A		0.1413		(2)	(2)	Common Stock	0.1413	$106.88	765.2198(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	04/01/2026
	** 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)

FAQ

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

PPG reported that senior vice president Anne M. Foulkes received 0.1413 Phantom Stock Units as a grant in the company’s deferred compensation plan. This is a compensation-related acquisition, not an open-market stock purchase or sale.

How many Phantom Stock Units does the PPG (PPG) executive now hold?

After the latest grant, Anne M. Foulkes holds a total of 765.2198 Phantom Stock Units in PPG’s deferred compensation plan. These units track the value of PPG common stock and associated cash within an unfunded company stock fund.

When do PPG (PPG) Phantom Stock Units convert into common stock?

The Phantom Stock Units convert into PPG common stock on a one-for-one basis after termination of employment with PPG. This means the executive receives an equivalent number of common shares at that time, subject to plan terms.

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

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 as PPG’s stock fair market value and the fund’s cash balance fluctuate.

Was the PPG (PPG) Form 4 transaction a stock market buy or sell?

No, the Form 4 shows a grant of Phantom Stock Units classified as a grant, award, or other acquisition. It is a compensation-related derivative award rather than an open-market purchase or sale of PPG common stock.