Form 4: PPG Executive Acquires Phantom Stock Units

PPG Industries' Sr. VP and General Counsel, Anne M. Foulkes, acquired 19.1579 phantom stock units on October 15, 2025.

Summary

• Anne M. Foulkes, Sr. VP and General Counsel and a Director of PPG Industries Inc., acquired 19.1579 phantom stock units.
• The transaction occurred on October 15, 2025, at a price of $99.56 per unit.
• These phantom stock units convert to common stock on a one-for-one basis after termination of employment with PPG.
• Following this transaction, Ms. Foulkes beneficially owns a total of 661.8546 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.
• Phantom stock units represent interests in an unfunded unitized company stock fund, where the number of shares attributed to a participant may change based on the fair market value of PPG common stock and the amount of cash in the fund.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock units by a senior executive is generally viewed as a positive signal, indicating continued alignment of management's interests with shareholder value. However, the transaction is relatively small and part of a deferred compensation plan, limiting its broader market impact.

Positives

• A senior executive, Anne M. Foulkes, increased her beneficial ownership in the company through the acquisition of phantom stock units.
• The acquisition demonstrates continued participation in the company's deferred compensation plan, aligning executive interests with shareholder value.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders may view the executive's increased beneficial ownership as a positive sign of management's commitment and alignment with long-term company performance.

Key Dates

Recommendation

This Form 4 reports a routine, compensation-related acquisition of phantom stock units by a senior executive. While it indicates alignment of interests, the transaction size is not significant enough to warrant a change in investment recommendation based solely on this filing. It is a standard insider transaction within a deferred compensation plan.

Keywords

PPG Industries, PPG, Anne M. Foulkes, Form 4, Insider Transaction, Phantom Stock Units, Executive Compensation, Stock Acquisition