Form 4: PPG Executive Acquires Phantom Stock Units

Chancey E. Hagerty, Sr. VP at PPG Industries, acquired 0.2435 phantom stock units, increasing total holdings to 186.8736 units.

Summary

• Chancey E. Hagerty, Senior Vice President of Automotive Refinish Coatings at PPG Industries, Inc. (PPG), acquired 0.2435 phantom stock units.
• The transaction date for this acquisition was February 27, 2026.
• These phantom stock units convert to PPG common stock on a one-for-one basis.
• The derivative security was valued at $123.27 per unit for this transaction.
• Following this acquisition, Mr. Hagerty beneficially owns a total of 186.8736 phantom stock units.
• The units are held within the PPG Industries, Inc. Deferred Compensation Plan, which is an unfunded unitized company stock fund comprising stock and cash.
• The number of shares attributed to a plan participant can change without their direct volition, depending on the fair market value of PPG's common stock and the cash balance in the fund.
• These phantom stock units become exercisable after the termination of employment with PPG.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a moderately positive signal, as it indicates an executive's continued participation in a long-term incentive plan, aligning their interests with shareholders, though the small unit count suggests it's a routine allocation rather than a discretionary purchase.

Positives

• An executive is increasing their holdings in the company's deferred compensation plan, which can signal continued confidence in the company's future performance.
• Phantom stock units align executive interests with shareholder interests, as their value is directly tied to the company's common stock performance.

Negatives

• The acquisition of a very small fractional unit (0.2435) suggests this is likely a routine, non-discretionary allocation within a compensation plan rather than a significant, intentional purchase by the executive.

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, meaning their value can fluctuate.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding the company's future performance, focusing instead on an executive's current and future beneficial ownership of phantom stock units.

Industry Context

StockSavvy.ai notes that executive participation in deferred compensation plans involving company stock is a common practice across industries, designed to align management incentives with long-term shareholder value. This specific transaction, while small in unit count, reflects ongoing executive compensation mechanisms at PPG.

Stakeholder Impact

• Shareholders: The executive's increased phantom stock holdings align their long-term interests with shareholder value, potentially fostering more prudent decision-making.

Next Steps

• The phantom stock units will convert to common stock on a one-for-one basis after termination of employment with PPG.
• The number of shares attributed to the reporting person may change over time based on the fair market value of PPG common stock and the cash in the fund.

Key Dates

Recommendation

This Form 4 filing details a routine acquisition of phantom stock units by an executive as part of a deferred compensation plan. While it indicates continued alignment of executive interests with shareholders, the transaction's small size and non-discretionary nature do not provide new material information to warrant a change in investment recommendation. Investors should hold their positions and monitor broader company performance and market trends.

Keywords

PPG Industries, PPG, Form 4, Insider Transaction, Phantom Stock Units, Deferred Compensation, Executive Compensation, Chancey E. Hagerty, Stock Acquisition