[Form 4] PPG Industries, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Smith & Nephew plc (NYSE: SNN) has filed a Form 6-K dated 1 July 2025 to update the market on its share capital and voting rights in accordance with the UK FCA’s Disclosure Guidance and Transparency Rule 5.6.1.

• Total issued share capital at 30 June 2025: 877,710,150 ordinary shares of US 20¢ each.
• Treasury shares (non-voting): 1,753,173.
• Voting shares outstanding: 875,956,977 ordinary shares, each carrying one vote.

The updated denominator enables shareholders and investors to calculate whether their holdings reach disclosure thresholds under UK transparency rules. No other financial metrics, strategic announcements or transactions were disclosed in this filing.

Insights

Corporate Governance Expert

TL;DR: Routine FCA Rule 5.6 update; neutral governance impact.

This 6-K simply refreshes Smith & Nephew’s voting-share count, trimming the denominator by c. 0.2% versus total issued shares due to treasury stock. Such updates are a compliance formality; they do not alter economic value, dividend capacity, or strategic direction. The information is nonetheless critical for investors monitoring percentage ownership thresholds (e.g., 3%, 5%, 10%) under UK disclosure rules. Given the absence of buybacks, cancellations, or new issuances, I view the impact on valuation or governance dynamics as neutral.

Portfolio Manager

TL;DR: Informational only—no change to investment thesis.

The filing reconfirms that SNN has roughly 876 million voting shares outstanding. From a portfolio perspective this affects EPS calculations and free-float weighting only marginally, as the treasury position (1.75 million shares) is negligible (<0.2% of share count). No indication of share-buyback acceleration or capital structure shifts was provided. I therefore classify the disclosure as low-impact and would not expect market movement.

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^*

KNAVISH TIMOTHY 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

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)	06/30/2025		A		18.9161		(2)	(2)	Common Stock	18.9161	$113.75	11,756.6744(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 Timothy M. Knavish	07/01/2025
	** 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

How many voting shares does Smith & Nephew (SNN) have outstanding as of 30 June 2025?

Smith & Nephew reports 875,956,977 ordinary shares with voting rights outstanding.

What is Smith & Nephew’s total issued share capital reported in the Form 6-K?

Total issued share capital is 877,710,150 ordinary shares of US 20¢ each.

How many Smith & Nephew shares are held in treasury?

The company holds 1,753,173 ordinary shares in treasury, which do not carry voting rights.

Why is the voting share count important for SNN investors?

Investors use the voting share count as the denominator to determine whether their holdings cross FCA disclosure thresholds (e.g., 3%, 5%).

Did the Form 6-K announce any share buybacks or new issuances?

No. The filing only updates the existing share and voting rights totals; it does not mention buybacks or new share issuance.