PPG Industries (NYSE: PPG) grants phantom stock units to Anne Foulkes

Rhea-AI Filing Summary

PPG Industries senior vice president Anne M. Foulkes received a grant of 7.2905 phantom stock units tied to PPG common stock. Each unit converts into one share of common stock after termination of employment. Following this award, she holds a total of 764.7525 phantom stock units in PPG’s deferred compensation plan, where the value of units changes with the stock price and related cash in the plan.

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

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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, Legal & Spl. Projects

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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)	03/12/2026		A		7.2905		(2)	(2)	Common Stock	7.2905	$100.73	764.7525(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	03/13/2026
	** 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 insider transaction did PPG (PPG) report for Anne M. Foulkes?

Anne M. Foulkes received 7.2905 phantom stock units linked to PPG common stock. These units are part of her deferred compensation and increase her total phantom stock holdings to 764.7525 units under the company’s deferred compensation plan.

What are phantom stock units in the PPG (PPG) deferred compensation plan?

Phantom stock units represent interests in an unfunded unitized company stock fund of PPG stock and cash. The number of units attributed to a participant can change with PPG’s stock fair market value and the amount of cash in the fund.

When do Anne M. Foulkes’s PPG (PPG) phantom stock units convert to common stock?

The phantom stock units convert to PPG common stock on a one-for-one basis after termination of employment. This means each unit becomes one share once her employment with PPG ends, according to the plan’s terms.

How many PPG (PPG) phantom stock units does Anne M. Foulkes hold after this award?

After the grant of 7.2905 phantom stock units, Anne M. Foulkes holds a total of 764.7525 phantom stock units. This figure represents all phantom units credited to her in PPG’s deferred compensation plan at the time of this filing.

Does the value of PPG (PPG) phantom stock units stay constant over time?

The value and number of phantom stock units can change over time. They depend on the fair market value of PPG’s common stock and the amount of cash in the related fund, and may change without any action by the participant.

Is Anne M. Foulkes’s PPG (PPG) phantom stock unit award a market purchase or sale?

The award is a grant, not a market purchase or sale of PPG shares. It is a compensation-related acquisition of phantom stock units within the deferred compensation plan, rather than an open-market stock transaction.