Form 4: PPG Executive Acquires Phantom Stock Units

PPG Industries' Sr. VP, Chancey E. Hagerty, acquired 0.1131 phantom stock units on September 12, 2025, as part of a deferred compensation plan.

Summary

• Chancey E. Hagerty, Senior Vice President, Automotive Refinish Coatings at PPG Industries, Inc., acquired additional phantom stock units.
• On September 12, 2025, 0.1131 phantom stock units were acquired.
• The derivative security price for this transaction was $110.72.
• Following this transaction, Hagerty beneficially owns a total of 49.3881 phantom stock units.
• These phantom stock units convert to common stock on a one-for-one basis.
• The units are part of the PPG Industries, Inc. Deferred Compensation Plan and become exercisable after termination of employment.
• The number of shares attributed to the participant can fluctuate based on the fair market value of PPG common stock and the cash in the underlying fund.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a senior executive is generally viewed as a positive signal, indicating alignment of management's interests with long-term shareholder value, although it is a routine deferred compensation transaction.

Positives

• An executive's acquisition of phantom stock units aligns their interests with shareholders, indicating confidence in the company's future performance and long-term commitment.

Risks

• The value of phantom stock units can fluctuate based on the fair market value of PPG Industries, Inc. common stock and the amount of cash in the underlying fund, introducing market-related risk to the compensation.

Future Outlook

The phantom stock units are exercisable after the termination of employment, linking future benefits to long-term company performance and executive retention.

Industry Context

Insider transactions, such as the acquisition of phantom stock units, are a common component of executive compensation packages across various industries, designed to align management incentives with shareholder interests.

Comparison to Industry Standards

• Deferred compensation plans involving phantom stock units are a standard practice in executive compensation across various industries, aligning with common corporate governance structures aimed at retaining talent and incentivizing long-term performance. No specific comparable companies or projects are detailed in this filing.

Related Party Transactions

• The transaction involves phantom stock units granted under the PPG Industries, Inc. Deferred Compensation Plan, which is a standard compensation arrangement for executives.

Stakeholder Impact

• Shareholders: Potential positive signal of executive confidence and alignment with long-term company performance.

Key Dates

Keywords

PPG, insider transaction, Form 4, phantom stock, executive compensation, deferred compensation, equity acquisition