Form 4: PPG Director Acquires Phantom Stock Units

PPG Industries Director Kathy Lynn Fortmann acquired 28.007 phantom stock units, increasing her total beneficial ownership to 2,491.1532 units.

Summary

• Kathy Lynn Fortmann, a Director of PPG Industries, Inc. (PPG), acquired 28.007 phantom stock units.
• The transaction occurred on September 12, 2025.
• Each phantom stock unit converts to common stock on a one-for-one basis.
• The acquisition price for the derivative security was $110.72 per unit.
• Following this transaction, Fortmann beneficially owns a total of 2,491.1532 phantom stock units.
• These phantom stock units are held in the PPG Industries, Inc. Deferred Compensation Plan for Directors.
• The number of shares attributed to a Plan participant may fluctuate based on the fair market value of PPG's common stock and the cash in the fund.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive due to a director increasing their beneficial ownership, which generally indicates confidence in the company. However, it is a routine compensation-related transaction and not indicative of significant new corporate developments.

Positives

• A Director, Kathy Lynn Fortmann, increased her beneficial ownership in the company through the acquisition of phantom stock units, aligning her interests further with shareholders.

Future Outlook

The phantom stock units will convert to common stock on a one-for-one basis after the termination of service as a Director of PPG Industries, Inc.

Industry Context

The acquisition of phantom stock units by a director is a common practice in corporate compensation structures, particularly for deferred compensation plans, aiming to align director interests with long-term shareholder value.

Corporate Governance

Related Party Transactions

• The acquisition of phantom stock units by a director as part of a deferred compensation plan is a standard related-party transaction, disclosed as required by SEC regulations.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with long-term shareholder value through equity ownership.

Next Steps

• Phantom stock units will convert to common stock on a one-for-one basis upon the 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 does not provide new information that would alter the fundamental investment thesis for PPG, hence a 'hold' recommendation is appropriate based solely on this filing.

Keywords

PPG Industries, Form 4, Insider Transaction, Director Compensation, Phantom Stock Units, Equity Acquisition, Corporate Governance