PPG Sr VP awarded phantom stock units

PPG Industries senior vice president Juliane M. Hefel received a grant of 1.8637 Phantom Stock Units tied to PPG common stock at a reference price of $121.29 per unit.

Rhea-AI Filing Summary

PPG Industries senior vice president Juliane M. Hefel received a grant of 1.8637 Phantom Stock Units tied to PPG common stock at a reference price of $121.29 per unit. This raises her total holdings in the company’s deferred compensation plan to 1,407.0758 phantom units, which track the value of PPG stock and convert one-for-one into common shares after termination of employment.

Insider Trade Summary

Grant/Award: 1.8637 shares

Grant/Award 1 txn

Insider Hefel Juliane M.

Role Sr. VP, Ind Coatings & Sp Prod

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1.8637	$121.29	$226.05

Holdings After Transaction: Phantom Stock Units — 1,407.0758 contracts (Direct)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. After termination of employment with PPG.
3. F3. 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.

Key Figures

Phantom units granted: 1.8637 units Reference price per unit: $121.29 per unit Total phantom units after grant: 1,407.0758 units +2 more

5 metrics

Phantom units granted 1.8637 units Grant of Phantom Stock Units on 2026-06-30

Reference price per unit $121.29 per unit Price used for the 1.8637-unit grant

Total phantom units after grant 1,407.0758 units Deferred compensation plan balance after 2026-06-30 grant

Transaction code A (Grant, award, or other acquisition) Indicates compensation-related acquisition, not market trade

Conversion ratio 1 unit : 1 common share Phantom Stock Units convert to PPG common stock one-for-one

Key Terms

Phantom Stock Units, Deferred Compensation Plan, unfunded unitized company stock fund, Grant, award, or other acquisition

4 terms

Phantom Stock Units financial

"The security converts to common stock on a one-for-one basis."

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Deferred Compensation Plan financial

"Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan."

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

unfunded unitized company stock fund financial

"Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash."

Grant, award, or other acquisition regulatory

"transaction_code_description": "Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PPG (PPG) executive Juliane Hefel report in this Form 4?

Juliane Hefel reported receiving 1.8637 Phantom Stock Units as a compensation-related award. These units reference PPG common stock at $121.29 per unit and increase her total phantom holdings in the company’s deferred compensation plan to 1,407.0758 units.

Is Juliane Hefel’s Form 4 transaction in PPG stock a market buy or sell?

The transaction is not an open-market buy or sell. It is a grant of 1.8637 Phantom Stock Units as compensation, coded “A” for award, which increases her deferred compensation plan balance rather than reflecting trading in the public market.

How do PPG’s Phantom Stock Units reported by Juliane Hefel work?

The Phantom Stock Units convert into PPG common stock on a one-for-one basis after termination of employment. They represent interests in an unfunded unitized company stock fund, whose value changes with PPG’s stock price and any cash held in the fund.

How many Phantom Stock Units does Juliane Hefel hold after this PPG transaction?

After the grant of 1.8637 Phantom Stock Units, Juliane Hefel’s total phantom holdings in PPG’s deferred compensation plan are 1,407.0758 units. This figure can change over time as the plan’s unitized stock fund value and its cash component fluctuate.

What triggers conversion of Juliane Hefel’s PPG Phantom Stock Units into common stock?

The Phantom Stock Units convert into PPG common stock after termination of Hefel’s employment. At that time, each unit is exchanged one-for-one for a share of PPG common stock, based on the plan’s terms and the interests credited to her account.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/01/2026 - 01:49 PM EDT Learn about SEC filing dates

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^*

Hefel Juliane M.

(Last) (First) (Middle)

PPG INDUSTRIES, INC.

ONE PPG PLACE

(Street)

PITTSBURGH PENNSYLVANIA 15272

(City) (State) (Zip)

UNITED STATES

(Country)

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, Ind Coatings & Sp Prod

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)	06/30/2026		A		1.8637		(2)	(2)	Common Stock	1.8637	$121.29	1,407.0758(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 Juliane M. Hefel	07/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)