PPG executive granted phantom stock units

PPG Industries senior vice president Juliane M. Hefel reported an automatic grant of phantom stock units under a deferred compensation plan.

Rhea-AI Filing Summary

PPG Industries senior vice president Juliane M. Hefel reported an automatic grant of phantom stock units under a deferred compensation plan. She acquired 0.8079 phantom stock units at a reference price of $131.34 per unit, bringing her total holdings in the plan to 230.3947 units.

The phantom stock units track PPG common stock on a one-for-one basis and convert into common shares after termination of employment with PPG. These units represent interests in an unfunded unitized company stock fund made up of stock and cash, and the number of units can change over time with market value and cash levels.

Insider Trade Summary

Grant/Award: 0.8079 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	0.8079	$131.34	$106.11

Holdings After Transaction: Phantom Stock Units — 230.3947 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.

FAQ

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

Juliane M. Hefel reported receiving a grant of phantom stock units linked to PPG stock. The filing shows an acquisition of 0.8079 units at $131.34, increasing her total phantom stock holdings in the deferred compensation plan to 230.3947 units.

How many phantom stock units does the PPG (PPG) executive now hold?

After this transaction, Juliane M. Hefel holds 230.3947 phantom stock units in the PPG deferred compensation plan. This total reflects all phantom units attributed to her account and can change as PPG’s share price and the fund’s cash balance fluctuate.

At what price were the PPG (PPG) phantom stock units granted?

The phantom stock units were granted using a reference price of $131.34 per unit. This price is used for accounting of the 0.8079 units awarded and ties each unit’s value to PPG’s common stock within the deferred compensation plan.

What does a phantom stock unit mean for PPG (PPG) insiders?

For PPG insiders, a phantom stock unit represents an interest in a unitized company stock fund holding PPG stock and cash. The units track PPG’s share value and are designed to convert into PPG common stock on a one-for-one basis after employment terminates.

When do PPG (PPG) phantom stock units convert into common stock?

The phantom stock units convert into PPG common stock after the executive’s termination of employment with PPG. Each phantom unit converts on a one-for-one basis, aligning eventual share delivery with the executive’s departure from the company under the plan’s terms.

Can the number of PPG (PPG) phantom stock units change without new grants?

Yes. The number of phantom stock units attributed to the executive can change over time without her direct action. It varies with the fair market value of PPG common stock and the amount of cash held in the unfunded unitized company stock fund.

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Accepted by SEC EDGAR 02/18/2026 - 09:58 AM 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 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, Ind Coatings & Sp Prod

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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)	02/13/2026		A		0.8079		(2)	(2)	Common Stock	0.8079	$131.34	230.3947(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	02/18/2026
	** 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.