Form 4: PPG Executive Alisha Bellezza Boosts Phantom Stock Holdings
Insider Transaction Report
PPG Industries' Sr. VP, Automotive Coatings, Alisha Bellezza, reported the acquisition of 20.0295 phantom stock units, increasing her total holdings to 98.0357 units.
Summary
- Alisha Bellezza, Sr. VP, Automotive Coatings at PPG Industries Inc., reported a change in beneficial ownership.
- On November 14, 2025, Bellezza acquired 20.0295 phantom stock units.
- These units were acquired through the PPG Industries, Inc. Deferred Compensation Plan.
- Following this transaction, Bellezza beneficially owns a total of 98.0357 phantom stock units.
- Each phantom stock unit converts to one share of common stock on a one-for-one basis.
- The conversion occurs after the termination of employment with PPG.
- The fair market value of the issuer's common stock on the transaction date was $97.03.
- The number of shares attributed to plan participants may fluctuate based on the fair market value of PPG common stock and the cash in the fund.
Sentiment
Score: 5
Explanation: This is a routine insider transaction reporting an acquisition of phantom stock units as part of a deferred compensation plan, which is a neutral event in terms of immediate company performance or outlook.
Positives
- The acquisition of phantom stock units aligns the executive's interests with shareholder value.
- Participation in a deferred compensation plan indicates a long-term commitment to the company.
Risks
- The value of phantom stock units is tied to the fair market value of PPG's common stock, exposing the holder to market fluctuations.
- The number of shares attributed to the reporting person may change without their volition depending on market value and fund cash.
Future Outlook
The phantom stock units will convert to common stock on a one-for-one basis after Alisha Bellezza's termination of employment with PPG.
Industry Context
This filing reflects a common practice in executive compensation where phantom stock units are used in deferred compensation plans to align executive incentives with long-term company performance and shareholder interests, without immediate equity issuance.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Plan Disclosure | The filing indicates participation in the PPG Industries, Inc. Deferred Compensation Plan, which includes phantom stock units. It also notes the transaction was made pursuant to a Rule 10b5-1(c) plan. | 11/14/2025 | This demonstrates a structured approach to executive compensation and compliance with insider trading regulations through a pre-arranged trading plan. |
Related Party Transactions
- The acquisition of phantom stock units through the PPG Industries, Inc. Deferred Compensation Plan represents a transaction between an executive and the company, which is a common form of related-party compensation arrangement.
Stakeholder Impact
- Shareholders: Minor positive impact as executive compensation is further aligned with long-term share performance.
- Employees: No direct impact on general employees.
Next Steps
- Conversion of phantom stock units to common stock upon Alisha Bellezza's termination of employment.
Key Dates
| Date | Description |
|---|---|
| 11/14/2025 | Date of earliest transaction (acquisition of phantom stock units) |
| 11/17/2025 | Date the Form 4 was signed and filed |
Keywords
PPG Industries, PPG, Alisha Bellezza, Form 4, insider transaction, phantom stock, deferred compensation, executive compensation, beneficial ownership, automotive coatings
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