PPG Industries (PPG) Sr. VP acquires phantom stock units in deferred plan

Rhea-AI Filing Summary

PPG Industries insider Form 4 details deferred compensation activity for a senior executive. The reporting person, a Sr. VP for Automotive Coatings, filed as a single reporting person in connection with a non-cash transaction dated 12/31/2025.

The filing shows the acquisition of 18.9522 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan at a reference price of $102.46 per unit, bringing the total to 155.5068 phantom stock units beneficially owned in the plan after the transaction. These units track PPG common stock in an unfunded unitized company stock fund made up of stock and cash.

According to the disclosure, each phantom stock unit converts into one share of PPG common stock after the executive’s termination of employment with PPG, and the number of units may change over time based on the fair market value of the common stock and the amount of cash in the fund.

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 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, Automotive Coatings

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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)	12/31/2025		A		18.9522		(2)	(2)	Common Stock	18.9522	$102.46	155.5068(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	01/02/2026
	** 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 insider transaction did PPG (PPG) report in this Form 4?

The filing reports that a PPG senior vice president acquired 18.9522 phantom stock units on 12/31/2025 in the PPG Industries, Inc. Deferred Compensation Plan.

How many phantom stock units does the PPG (PPG) executive hold after this transaction?

After the reported transaction, the executive beneficially owns a total of 155.5068 phantom stock units in the Deferred Compensation Plan.

What do the PPG (PPG) phantom stock units represent for the insider?

The phantom stock units represent interests in an unfunded unitized company stock fund comprised of PPG stock and cash, and their amount can change with the fair market value of the common stock and the cash in the fund.

When can the PPG (PPG) phantom stock units be converted into common stock?

The disclosure states that each phantom stock unit converts into one share of PPG common stock after termination of employment with PPG.

What is the role of the reporting person in this PPG (PPG) Form 4 filing?

The reporting person is identified as an officer of PPG, serving as Sr. VP, Automotive Coatings, and filed the Form 4 as a single reporting person.

Is the PPG (PPG) Form 4 transaction a direct stock purchase or sale?

No direct share purchase or sale is reported; instead, the filing details the acquisition of phantom stock units within a deferred compensation plan that tracks PPG common stock.