PPG director awarded 60 phantom stock units

A PPG Industries director received additional phantom stock units as part of deferred director compensation, increasing her total phantom holdings under the company plan.

Rhea-AI Filing Summary

PPG Industries Inc (PPG) reported that director Kathy Lynn Fortmann received a grant of 60.2792 Phantom Stock Units on September 11, 2026, as a grant/award acquisition.

These units convert into an equal number of common shares on a one-for-one basis after her service as a director ends and are held in the company’s Deferred Compensation Plan for Directors, bringing her total phantom stock holdings in the plan to 5,749.0943 units. The value of these units varies with PPG’s stock price and the cash held in the plan’s unitized company stock fund. No Rule 10b5-1 trading plan is reported for this award.

Insider Trade Summary

Grant/Award: 60.2792 shares

Grant/Award 1 txn

Insider Fortmann Kathy Lynn

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	60.2792	$105.50	$6K

Holdings After Transaction: Phantom Stock Units — 5,749.0943 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of service as a Director of PPG Industries, Inc.
3. F3. 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.

Key Figures

Phantom Stock Units granted: 60.2792 units Reference value per Phantom Stock Unit: $105.50 per unit Total Phantom Stock Units after grant: 5,749.0943 units +1 more

4 metrics

Phantom Stock Units granted 60.2792 units Grant to director on September 11, 2026

Reference value per Phantom Stock Unit $105.50 per unit Value used for reporting the September 11, 2026 grant

Total Phantom Stock Units after grant 5,749.0943 units Director’s total phantom holdings in the Deferred Compensation Plan for Directors

Underlying common stock per unit 1 share of common stock Phantom Stock Units convert to common stock on a one-for-one basis

Key Terms

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

4 terms

Phantom Stock Units financial

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

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 for Directors financial

"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors."

A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.

unfunded unitized company stock fund financial

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

fair market value financial

"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"

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) disclose for director Kathy Lynn Fortmann?

The company disclosed that director Kathy Lynn Fortmann received a grant of 60.2792 Phantom Stock Units on September 11, 2026 as a compensation-related award, increasing her phantom stock position in PPG’s Deferred Compensation Plan for Directors.

How many phantom stock units does the PPG (PPG) director hold after this grant?

After the September 11, 2026 grant, the director holds a total of 5,749.0943 Phantom Stock Units in the PPG Industries, Inc. Deferred Compensation Plan for Directors, as reported in the filing’s footnotes.

What do the Phantom Stock Units at PPG (PPG) convert into and when?

The Phantom Stock Units convert to common stock on a one-for-one basis. The filing states that conversion occurs after termination of service as a Director of PPG Industries, Inc., linking payout to the end of board service.

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

The filing explains that Phantom Stock Units represent interests in an unfunded unitized company stock fund of stock and cash. The number of units attributed to the director may change based on the fair market value of PPG’s common stock and the amount of cash in the fund.

Was the PPG (PPG) phantom stock grant made under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not checked, and there is no footnote indicating a pre-arranged trading plan. The award is reported as a grant/award acquisition of Phantom Stock Units, not as a plan-based trade.

What is the reference price for the PPG (PPG) Phantom Stock Units granted?

The transaction reports 60.2792 Phantom Stock Units at a reference value of $105.50 per unit. This price is tied to the underlying common stock and used for reporting the grant on the Form 4.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/14/2026 - 02:08 PM Accepted by SEC EDGAR 09/14/2026 - 02:08 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^*

Fortmann Kathy Lynn

(Last) (First) (Middle)

C/O 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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026

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)	09/11/2026		A		60.2792		(2)	(2)	Common Stock	60.2792	$105.5	5,749.0943(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	09/14/2026
	** 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)