Form 4: PPG Executive Acquires Phantom Stock Units

Alisha Bellezza, PPG's Sr. VP of Automotive Coatings, acquired 18.7019 phantom stock units as part of a deferred compensation plan.

Summary

• Alisha Bellezza, Senior Vice President of Automotive Coatings at PPG Industries, Inc., acquired 18.7019 phantom stock units.
• The transaction occurred on December 15, 2025.
• These phantom stock units convert to common stock on a one-for-one basis.
• The acquisition was part of a pre-arranged Rule 10b5-1(c) plan.
• Following this transaction, Ms. Bellezza beneficially owns a total of 136.5546 phantom stock units.
• The phantom stock units represent interests in an unfunded unitized company stock fund, with the number of shares potentially changing based on PPG's common stock fair market value and fund cash.

Sentiment

Score: 5

Explanation: The filing is a neutral, factual report of an executive's acquisition of phantom stock units as part of a compensation plan, with no inherently positive or negative implications for the company's immediate operational or financial performance.

Positives

• The acquisition of phantom stock units aligns the executive's interests with shareholder value, as these units convert to common stock.
• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-scheduled, non-discretionary transaction.

Negatives

• No direct negatives are apparent from this routine compensation-related transaction.

Risks

• The value of the phantom stock units is subject to the fair market value of PPG's common stock and the amount of cash in the fund, exposing the holder to market fluctuations.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the nature of the phantom stock units converting to common stock after termination of employment.

Industry Context

This is a routine insider transaction related to executive compensation, common across various industries for aligning management incentives with company performance. It does not provide specific insights into broader industry trends for automotive coatings or the chemicals sector.

Comparison to Industry Standards

• The use of phantom stock units as a form of deferred compensation is a standard practice in many large corporations, including those in the industrial and materials sectors.
• This type of equity-based compensation is designed to retain executives and align their long-term interests with shareholder value, similar to practices at companies like Sherwin-Williams (SHW) or AkzoNobel (AKZA.AS).

Related Party Transactions

• The acquisition of phantom stock units by a Senior Vice President is a transaction between the company and an insider, falling under the scope of related party dealings in the context of executive compensation.

Stakeholder Impact

• Shareholders: The transaction aligns executive incentives with shareholder interests through equity-based compensation.
• Employees: No direct impact on general employees is indicated.
• Management: The transaction represents a component of the executive's compensation package.

Next Steps

• The phantom stock units will convert to common stock on a one-for-one basis after the reporting person's termination of employment with PPG.

Key Dates

Keywords

PPG Industries, PPG, Alisha Bellezza, Insider Transaction, Form 4, Phantom Stock Units, Deferred Compensation, Executive Compensation, Rule 10b5-1