[Form 4] PPG INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

PPG Industries senior vice president Juliane M. Hefel received a grant of 1.5912 phantom stock units tied to PPG common stock at a reference price of $100.73 per unit. This award increases her total phantom stock units in the company’s deferred compensation plan to 1,146.932.

The phantom units convert into PPG common stock on a one-for-one basis after her employment with PPG ends. These units represent an interest in an unfunded company stock fund whose value can change with PPG’s share price and the amount of cash held in the fund. This is a compensation-related grant, not an open-market stock purchase or sale.

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^*

Hefel Juliane 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, Ind Coatings & Sp Prod

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)	03/12/2026		A		1.5912		(2)	(2)	Common Stock	1.5912	$100.73	1,146.932(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	03/13/2026
	** 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 did PPG (PPG) disclose about Juliane M. Hefel’s latest equity award?

PPG reported that senior vice president Juliane M. Hefel received 1.5912 phantom stock units as a compensation-related grant. The units are tied to PPG common stock, referencing a price of $100.73 per unit, and form part of her deferred compensation.

How many phantom stock units does Juliane M. Hefel now hold at PPG (PPG)?

After the latest grant, Juliane M. Hefel holds a total of 1,146.932 phantom stock units in PPG’s deferred compensation plan. These units mirror PPG’s stock performance and can ultimately convert to common shares on a one-for-one basis after employment ends.

Do the phantom stock units granted to the PPG (PPG) executive convert into common stock?

Yes. The phantom stock units convert into PPG common stock on a one-for-one basis. Conversion occurs after termination of employment with PPG, giving the executive deferred exposure to the company’s equity rather than an immediate share issuance.

Is Juliane M. Hefel’s Form 4 transaction at PPG (PPG) an open-market stock purchase or sale?

No. The Form 4 shows a grant of 1.5912 phantom stock units as compensation, not an open-market buy or sell. The transaction is coded as a grant or award acquisition and is settled within PPG’s deferred compensation plan structure.

How does PPG’s (PPG) deferred compensation plan phantom stock work for executives?

Phantom stock units in PPG’s deferred compensation plan represent interests in a unitized company stock fund made up of stock and cash. The number of units attributed can change over time with PPG’s share price and the cash level in the fund, without the executive’s direct action.

When can the PPG (PPG) executive receive common shares from phantom stock units?

According to the disclosure, the phantom stock units convert to PPG common stock after termination of employment. Until then, they remain as units in an unfunded company stock fund that tracks the value of PPG’s shares and related cash holdings.