PPG (NYSE: PPG) SVP granted phantom stock units tied to common shares

Rhea-AI Filing Summary

PPG Industries reported that Sr. VP, Legal & Special Projects Anne M. Foulkes acquired a small grant of 0.3260 phantom stock units on March 13, 2026, at a reference price of $101.89 per unit. This award increased her total phantom stock units in the PPG Industries Deferred Compensation Plan to 765.0785 units.

The phantom stock units are book-entry interests that track PPG common stock and convert into common shares on a one-for-one basis after termination of employment. Their attributed share count can change over time based on PPG’s share price and cash levels in the plan, and this grant reflects routine, non-cash compensation rather than an open-market stock purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Foulkes Anne M.

Role Sr. VP, Legal & Spl. Projects

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	0.326	$101.89	$33.22

Holdings After Transaction: Phantom Stock Units — 765.079 shares (Direct)

Footnotes (1)

1. The security converts to common stock on a one-for-one basis. After termination of employment with PPG. 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.

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Form 4 Insider Transactions: What Each Field Means →

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^*

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)
03/13/2026

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)	03/13/2026		A		0.326		(2)	(2)	Common Stock	0.326	$101.89	765.0785(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	03/16/2026
	** 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 did PPG (PPG) disclose about Anne M. Foulkes in this Form 4?

PPG disclosed that Sr. VP Anne M. Foulkes received a grant of 0.3260 phantom stock units on March 13, 2026. This award increased her total phantom units in the company’s Deferred Compensation Plan to 765.0785, reflecting routine compensation rather than an open-market trade.

What are phantom stock units in PPG’s Deferred Compensation Plan?

PPG’s phantom stock units represent interests in an unfunded unitized company stock fund made up of stock and cash. They track the value of PPG common stock, and the number of units attributed to a participant can change as the share price and cash balance in the fund move.

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

After the March 13, 2026 grant of 0.3260 phantom stock units, Anne M. Foulkes holds a total of 765.0785 phantom stock units. This figure reflects all phantom units attributed to her in PPG’s Deferred Compensation Plan, which may fluctuate with stock value and plan cash levels.

Do PPG phantom stock units convert into common stock for Anne M. Foulkes?

Yes. The phantom stock units convert into PPG common stock on a one-for-one basis. According to the filing, conversion occurs after termination of employment with PPG, aligning the value of the units with the company’s share price at that time.

Did Anne M. Foulkes buy or sell PPG common shares in the market?

No market buy or sell is reported. The Form 4 shows a grant of 0.3260 phantom stock units as compensation, categorized as a derivative acquisition. This award is part of PPG’s Deferred Compensation Plan rather than an open-market transaction in PPG common stock.

How does the value of PPG phantom stock units change over time?

The value and attributed number of PPG phantom stock units can change without the participant’s action. Changes depend on the fair market value of PPG’s common stock and the amount of cash in the underlying unitized company stock fund that backs these phantom interests.