PPG Industries (PPG) SVP & General Counsel reports new phantom stock units

Rhea-AI Filing Summary

PPG Industries executive reports new phantom stock units in deferred plan. Anne M. Foulkes, Senior Vice President and General Counsel of PPG Industries Inc., filed a Form 4 for a derivative equity transaction dated 11/28/2025. She acquired 17.9076 phantom stock units at $100.04 per unit under the PPG Industries, Inc. Deferred Compensation Plan.

Following this transaction, she beneficially owned 717.7123 phantom stock units, held directly. Each phantom stock unit converts into one share of PPG common stock, with conversion occurring after termination of employment with PPG. These units represent interests in an unfunded company stock fund whose value can change with PPG's stock price and 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
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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 and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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)	11/28/2025		A		17.9076		(2)	(2)	Common Stock	17.9076	$100.04	717.7123(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	12/01/2025
	** 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?

Anne M. Foulkes, Senior Vice President and General Counsel of PPG Industries Inc., reported acquiring 17.9076 phantom stock units on 11/28/2025 under the company’s Deferred Compensation Plan.

How many PPG phantom stock units does Anne M. Foulkes own after this Form 4 transaction?

After the reported transaction, Anne M. Foulkes beneficially owned 717.7123 phantom stock units related to PPG Industries Inc., held directly in the Deferred Compensation Plan.

What are PPG Industries phantom stock units as described in this Form 4?

The filing describes phantom stock units as interests in an unfunded unitized company stock fund comprised of PPG stock and cash. The number of units attributed to the participant can change over time based on the fair market value of PPG common stock and the amount of cash in the fund.

How do PPG Industries phantom stock units convert into common stock?

Each phantom stock unit reported by Anne M. Foulkes converts into one share of PPG common stock. The conversion occurs after termination of employment with PPG, according to the explanation in the filing.

Is Anne M. Foulkes a director or officer of PPG Industries?

Yes. The Form 4 identifies Anne M. Foulkes as an officer of PPG Industries Inc., specifically serving as Senior Vice President and General Counsel.

How is ownership of these PPG phantom stock units characterized in the Form 4?

The Form 4 states that the 717.7123 phantom stock units are held with direct ownership by the reporting person under the company’s Deferred Compensation Plan.