PPG executive granted phantom stock units

PPG Industries senior vice president Alisha Bellezza reported a small compensation-related award of phantom stock units linked to the company’s common stock.

Rhea-AI Filing Summary

PPG Industries senior vice president Alisha Bellezza reported a small compensation-related award of phantom stock units linked to the company’s common stock. She acquired 0.5309 Phantom Stock Units at a reference price of $121.53 per unit, bringing her total phantom stock holdings in the deferred compensation plan to 163.7580 units. These units are credited under a deferred compensation arrangement, convert into common stock on a one-for-one basis, and generally settle after termination of employment.

Insider Trade Summary

Grant/Award: 0.5309 shares

Grant/Award 1 txn

Insider Bellezza Alisha

Role Sr. VP, Automotive Coatings

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.5309	$121.53	$64.52

Holdings After Transaction: Phantom Stock Units — 163.758 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 units granted: 0.5309 units Reference price per unit: $121.53 per unit Total phantom units after grant: 163.7580 units +1 more

4 metrics

Phantom units granted 0.5309 units Phantom Stock Units grant to Alisha Bellezza

Reference price per unit $121.53 per unit Transaction price for Phantom Stock Units

Total phantom units after grant 163.7580 units Total Phantom Stock Units in deferred compensation plan

Conversion ratio 1:1 to common stock Phantom units convert into PPG common shares

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 did PPG (PPG) executive Alisha Bellezza report in this Form 4?

Alisha Bellezza reported receiving a small grant of 0.5309 Phantom Stock Units as compensation. These units track PPG common stock and increase her total phantom holdings in PPG’s deferred compensation plan to 163.7580 units, settling after employment ends.

How many PPG phantom stock units does Alisha Bellezza hold after this transaction?

After this transaction, Alisha Bellezza holds 163.7580 Phantom Stock Units in PPG’s deferred compensation plan. This total includes the newly awarded 0.5309 units and represents interests in a unitized company stock fund comprised of PPG stock and cash, adjusted over time with market value.

What are Phantom Stock Units in the context of PPG (PPG)?

Phantom Stock Units at PPG represent interests in an unfunded unitized company stock fund tied to PPG common stock and cash. They mirror the stock’s value, can change with market movements and cash levels, and generally convert to common shares on a one-for-one basis at settlement.

When do PPG Phantom Stock Units held by Alisha Bellezza 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. Until then, they remain as bookkeeping units in the deferred compensation plan, fluctuating as the fund’s mix of stock and cash changes over time.

Was this PPG Form 4 transaction a market buy or sell of common stock?

No, this transaction was a grant of 0.5309 Phantom Stock Units, not an open-market trade. It is classified as a compensation-related award, with units credited under PPG’s deferred compensation plan rather than shares being bought or sold on the market.

How is the value of PPG Phantom Stock Units determined for Alisha Bellezza?

The value of Phantom Stock Units is based on a unitized fund holding PPG common stock and cash. The number of units attributed to Alisha Bellezza can change over time depending on PPG’s stock price and the amount of cash in the fund’s balance.

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

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Accepted by SEC EDGAR 06/16/2026 - 11:27 AM EDT 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^*

Bellezza Alisha

(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, Automotive Coatings

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

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)	06/15/2026		A		0.5309		(2)	(2)	Common Stock	0.5309	$121.53	163.758(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 Alisha E. Bellezza	06/16/2026
	** 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)