[Form 4] PPG INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

Kathy Lynn Fortmann, identified as a Director of PPG Industries, reported a transaction dated 09/12/2025 on Form 4. She acquired 28.007 phantom stock units under the PPG Industries, Inc. Deferred Compensation Plan for Directors; these units convert to common stock on a one-for-one basis. The filing shows a price reference of $110.72 and indicates 2,491.1532 shares (or share-equivalents) beneficially owned by the reporting person following the transaction, held directly. The phantom units represent interests in an unfunded unitized company stock fund whose attributed share amount may change with the fair market value of PPG common stock and plan cash. The filing was signed by an attorney-in-fact on 09/15/2025.

Insights

Corporate Governance Expert

TL;DR: Routine director deferred compensation accrual reported; no change to voting control or immediate cash proceeds.

The filing documents a standard deferred-compensation credit for a director: 28.007 phantom stock units were added to Kathy Fortmann's deferred plan balance on 09/12/2025. Phantom units are unfunded and convert one-for-one to common shares, but the filing specifies conversion occurs after termination of service, indicating no immediate issuance of shares or dilution. The reported post-transaction balance is 2,491.1532 share-equivalents held directly. This is a disclosure of compensation mechanics rather than an operational or financial event affecting company performance.

Executive Compensation Analyst

TL;DR: Transaction reflects director compensation credit under the Deferred Compensation Plan; value fluctuates with stock and plan cash.

The entry describes phantom stock units that "represent interests in an unfunded unitized company stock fund comprised of stock and cash." The filing notes the credited units may change in attributed share count based on fair market value and the fund's cash component. The reported price reference of $110.72 provides a valuation snapshot for the credited units on the transaction date. This is a common non-cash compensation mechanism for directors and does not indicate option exercise or cash payout at this time.

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

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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^*

Fortmann Kathy Lynn

(Last) (First) (Middle)

C/O 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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
Phantom Stock Units	(1)	09/12/2025		A		28.007		(2)	(2)	Common Stock	28.007	$110.72	2,491.1532(3)	D

Explanation of Responses:

1. The security converts to common stock on a one-for-one basis.

2. After termination of service as a Director of PPG Industries, Inc.

3. Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. 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 Kathy Lynn Fortmann	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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