PPG Industries (NYSE: PPG) executive granted 0.4633 phantom units

Rhea-AI Filing Summary

PPG Industries senior vice president Anne M. Foulkes reported a small addition of phantom stock units tied to PPG common shares. On 01/15/2026 she acquired 0.4633 phantom stock units at $110.07 per unit under the company’s deferred compensation plan. These units are designed to mirror the value of PPG stock and convert into common stock on a one-for-one basis after her employment with PPG ends.

Following this transaction, Foulkes now holds a total of 757.4397 phantom stock units in the deferred compensation plan, which is an unfunded arrangement invested in a unitized company stock fund made up of stock and cash. The number of units can change over time based on PPG’s share price 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

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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^*

Foulkes Anne 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, Legal & Spl. Projects

3. Date of Earliest Transaction (Month/Day/Year)
01/15/2026

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)	01/15/2026		A		0.4633		(2)	(2)	Common Stock	0.4633	$110.07	757.4397(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 Anne M. Foulkes	01/16/2026
	** 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.

FAQ

What insider transaction did PPG (PPG) report for Anne M. Foulkes?

PPG reported that Sr. VP, Legal & Special Projects Anne M. Foulkes acquired 0.4633 phantom stock units on 01/15/2026 under a deferred compensation plan.

What are the terms of the phantom stock units reported by PPG (PPG)?

The phantom stock units convert into PPG common stock on a one-for-one basis and are generally payable after termination of employment with PPG.

What price was used for the phantom stock units in this PPG Form 4?

The 0.4633 phantom stock units were credited at a reference price of $110.07 per unit, reflecting the value used in the deferred compensation plan.

How many phantom stock units does Anne M. Foulkes hold after this transaction?

After the reported transaction, Anne M. Foulkes beneficially owns a total of 757.4397 phantom stock units in PPG’s deferred compensation plan.

What does it mean that PPG phantom stock units are in a deferred compensation plan?

The phantom stock units are interests in an unfunded unitized company stock fund of stock and cash. The number of units can change over time with PPG’s share price and the fund’s cash level.

Does this PPG Form 4 indicate a direct ownership position by Anne M. Foulkes?

Yes. The Form 4 shows the phantom stock units as held with direct ownership (D) by Anne M. Foulkes, subject to the deferred compensation plan terms.