Form 4: PPG Executive Boosts Phantom Stock Holdings

Anne M. Foulkes, PPG Industries' Sr. VP and General Counsel, acquired 17.6656 phantom stock units, increasing her total beneficial ownership to 739.712 units.

Summary

• Anne M. Foulkes, Senior VP and General Counsel of PPG Industries, Inc. (PPG), acquired 17.6656 phantom stock units.
• The transaction occurred on December 15, 2025.
• Each phantom stock unit was valued at $103.72.
• Following this acquisition, Ms. Foulkes beneficially owns a total of 739.712 phantom stock units.
• Phantom stock units convert to common stock on a one-for-one basis after termination of employment with PPG.
• These units are part of an unfunded unitized company stock fund within the PPG Industries, Inc. Deferred Compensation Plan.

Sentiment

Score: 6

Explanation: Slightly positive, as an executive increasing their holdings (even phantom units) can be interpreted as a sign of confidence in the company's future, aligning management interests with shareholders. However, it's a small, routine transaction, so the impact is limited.

Positives

• An executive increasing their holdings, even in phantom units, can signal confidence in the company's future performance.
• Phantom stock units align management's interests with shareholder value, as their value is tied to the common stock price.

Negatives

• No direct negatives are apparent from this routine insider transaction filing.

Risks

• The value of the phantom stock units is subject to the fair market value of PPG's common stock, meaning a decline in stock price would reduce the value of these holdings.
• The number of shares attributed to the reporting person may change based on the fair market value of the issuer's common stock and the amount of cash in the fund, introducing some variability.

Future Outlook

NA

Industry Context

This is a routine insider transaction for an executive at a major global paints, coatings, and specialty materials company. Such transactions are common and generally reflect individual compensation plans rather than broader industry trends.

Stakeholder Impact

• Shareholders: May view the executive's increased holdings as a positive signal of management's alignment with shareholder interests.
• Employees: No direct impact on general employees.
• Management: The transaction increases the executive's vested interest in the company's stock performance.

Key Dates

Keywords

PPG Industries, PPG, Insider Transaction, Form 4, Phantom Stock Units, Executive Compensation, Anne M. Foulkes, Deferred Compensation