Form 4: Director Lamach Acquires PPG Phantom Stock Units

PPG Industries Director Michael W. Lamach acquired 117.6469 phantom stock units at $103.54 per unit, increasing his total holdings to 13,984.4963 units.

Summary

• Michael W. Lamach, a Director of PPG Industries Inc., acquired 117.6469 phantom stock units.
• The transaction occurred on December 12, 2025.
• Each phantom stock unit was valued at $103.54 at the time of acquisition.
• Following this acquisition, Lamach beneficially owns a total of 13,984.4963 phantom stock units.
• These phantom stock units are part of the PPG Industries, Inc. Deferred Compensation Plan for Directors.
• The phantom stock units convert to common stock on a one-for-one basis after the termination of service as a Director.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a director, especially as part of a deferred compensation plan, generally indicates continued alignment of interests with shareholders and confidence in the company's long-term prospects. While not a direct open-market purchase, it reflects an increase in beneficial ownership.

Positives

• An insider (Director Michael W. Lamach) increased his beneficial ownership in the company's phantom stock units, which can be interpreted as a sign of continued confidence in the company's long-term prospects.
• The acquisition was made at a specific valuation of $103.54 per unit, aligning the director's interests with shareholder value.

Risks

• 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.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Increased beneficial ownership by a director may signal confidence, potentially viewed positively.
• Management/Employees: Reflects standard director compensation practices and alignment with company performance.

Next Steps

• Phantom stock units will convert to common stock on a one-for-one basis after Michael W. Lamach's termination of service as a Director of PPG Industries, Inc.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of phantom stock units by a director as part of a deferred compensation plan. It reflects ongoing director compensation and alignment with shareholder interests rather than a significant new investment decision or a change in company fundamentals. As such, it does not provide a strong signal for a 'buy' or 'sell' recommendation, supporting a 'hold' stance based solely on this filing.

Keywords

PPG Industries, PPG, Michael W. Lamach, Form 4, Insider Transaction, Phantom Stock Units, Director Compensation, Deferred Compensation