Form 4: PPG Director Melanie Healey Reports Equity Conversion

Director Melanie Healey converted 1,849 restricted stock units into phantom stock and received a new grant of 1,684 restricted stock units.

Summary

• Director Melanie Healey vested 1,849 restricted stock units (RSUs) on April 15, 2026.
• The reporting person elected to defer receipt of these shares, converting them into 1,849 phantom stock units under the company's Deferred Compensation Plan for Directors.
• A new grant of 1,684 restricted stock units was awarded to the director on April 16, 2026.
• The new RSU grant is scheduled to vest on April 14, 2027.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing reflecting standard director compensation practices with no impact on company operations.

Positives

• Director maintains long-term alignment with company performance through continued participation in the deferred compensation plan.
• Ongoing equity-based compensation structure ensures director interests remain tied to shareholder value.

Negatives

• None identified; this is a routine administrative transaction regarding director compensation.

Risks

• Value of phantom stock units is subject to fluctuations in the fair market value of PPG common stock.
• Phantom stock units represent an unfunded obligation of the company.

Future Outlook

The director continues to hold equity interests in the company, with new units vesting in April 2027.

Management Comments

• The reporting person deferred the receipt of 1,849 shares of common stock and received instead shares of phantom stock pursuant to the PPG Industries, Inc. Deferred Compensation Plan for Directors.

Industry Context

StockSavvy.ai notes that this is a standard regulatory disclosure for director compensation and equity deferral, common among large-cap industrial companies to align board incentives with long-term performance.

Comparison to Industry Standards

• The use of deferred compensation plans for directors is a standard governance practice among S&P 500 companies.
• The one-for-one conversion of RSUs to phantom stock is consistent with typical executive and director compensation structures at peer firms like Sherwin-Williams or AkzoNobel.

Stakeholder Impact

• No material impact on shareholders, employees, or creditors as this is a routine director equity transaction.

Next Steps

• Vesting of 1,684 restricted stock units on April 14, 2027.

Key Dates

Keywords

PPG Industries, Form 4, Director Compensation, Restricted Stock Units, Phantom Stock, Insider Trading