Form 4: PPG Executive Acquires Phantom Stock Units

PPG Industries' Sr. VP and Chief HR Officer, Robert L. Massy, acquired 16.8411 phantom stock units at a price of $103.72 per unit.

Summary

• Robert L. Massy, Senior Vice President and Chief HR Officer of PPG Industries, Inc., acquired 16.8411 phantom stock units.
• The transaction occurred on December 15, 2025, with a price of $103.72 per unit.
• Following this acquisition, Massy beneficially owns a total of 150.3272 phantom stock units.
• These phantom stock units are part of the PPG Industries, Inc. Deferred Compensation Plan and convert to common stock on a one-for-one basis.
• The units become exercisable after the termination of employment with PPG.

Sentiment

Score: 5

Explanation: This is a neutral filing, reporting a routine executive compensation transaction involving phantom stock units, which is a standard part of deferred compensation plans.

Future Outlook

The phantom stock units become exercisable after the termination of employment with PPG, indicating a long-term incentive structure tied to post-employment benefits.

Industry Context

This filing reflects a routine executive compensation event within the chemicals and coatings industry, where deferred compensation plans often include equity-linked instruments like phantom stock units to align executive interests with shareholder value over the long term.

Comparison to Industry Standards

• The use of phantom stock units as part of a deferred compensation plan is a common practice among large publicly traded companies, including those in the materials and industrial sectors, such as Sherwin-Williams (SHW) or AkzoNobel (AKZA.AS), to retain executives and align their interests with long-term company performance.
• The one-for-one conversion to common stock is standard for such units, providing a direct link to the company's share price performance.

Related Party Transactions

• The acquisition of phantom stock units by a Senior VP and Chief HR Officer as part of the company's deferred compensation plan represents a transaction between the company and a key executive.

Stakeholder Impact

• Shareholders: The transaction is a routine part of executive compensation and does not directly impact share count or dilution at the time of grant, but will upon conversion to common stock. It aligns executive interests with long-term shareholder value.
• Employees: No direct impact on general employees, but reflects the company's executive compensation strategy.

Key Dates

Keywords

PPG Industries, PPG, Phantom Stock Units, Deferred Compensation, Executive Compensation, Insider Transaction, Form 4, Robert L. Massy