Form 4: PPG Exec Acquires Deferred Stock Units

PPG Industries' Senior VP of Operations, Kevin D. Braun, acquired 0.7262 phantom stock units as part of a deferred compensation plan.

Summary

• Kevin D. Braun, Senior VP, Operations at PPG Industries Inc. (PPG), acquired 0.7262 phantom stock units on August 15, 2025.
• The phantom stock units convert to common stock on a one-for-one basis.
• These units are part of the PPG Industries, Inc. Deferred Compensation Plan.
• The number of shares attributed to the reporting person may change based on the fair market value of PPG's common stock and the amount of cash in the fund.
• Following this transaction, Kevin D. Braun beneficially owns a total of 623.8924 phantom stock units.
• The derivative security (phantom stock units) was valued at $111.8 per unit at the time of the transaction.

Sentiment

Score: 6

Explanation: This is a routine acquisition of deferred compensation units by a senior executive, indicating continued participation in the company's long-term incentive plan. It is generally neutral to slightly positive as it shows ongoing alignment of interests.

Positives

• The acquisition of phantom stock units by a senior executive indicates continued participation in the company's long-term incentive plan, aligning management's interests with shareholder value.

Risks

• The value of the phantom stock units is tied to the fair market value of PPG Industries, Inc.'s common stock, exposing the holdings to market fluctuations.

Future Outlook

The phantom stock units held by the reporting person are scheduled to convert to common stock upon termination of employment with PPG.

Industry Context

The use of phantom stock units as part of a deferred compensation plan is a common practice among large publicly traded companies to provide long-term incentives and align executive interests with shareholder performance.

Comparison to Industry Standards

• Deferred compensation plans, often including phantom stock units or similar equity-linked instruments, are standard components of executive compensation packages across various industries, including manufacturing and chemicals, to encourage long-term commitment and performance. This transaction aligns with typical executive incentive structures seen in companies comparable to PPG Industries.

Stakeholder Impact

• Shareholders: The transaction aligns the interests of a senior executive with shareholders through equity-linked compensation.

Next Steps

• Conversion of phantom stock units to common stock upon termination of employment.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of phantom stock units by a senior executive as part of a deferred compensation plan. Such transactions are common and do not typically signal a significant change in company fundamentals or outlook that would warrant a change in investment recommendation based solely on this information. It primarily indicates the executive's continued participation in long-term incentive programs.

Keywords

PPG Industries, PPG, Form 4, Insider Transaction, Phantom Stock Units, Deferred Compensation, Executive Compensation, Kevin D. Braun