Form 4: PPG Executive Massy Acquires Phantom Stock Units

Robert L. Massy, PPG Industries' Senior VP and Chief HR Officer, acquired 17.3934 phantom stock units as part of a deferred compensation plan.

Summary

• Robert L. Massy, Senior VP and Chief HR Officer of PPG Industries Inc. (PPG), acquired 17.3934 phantom stock units.
• The transaction occurred on November 28, 2025.
• These phantom stock units convert to common stock on a one-for-one basis.
• The derivative security price for this transaction was $100.04 per unit.
• Following this acquisition, Massy beneficially owns a total of 132.8769 phantom stock units.
• The units are part of the PPG Industries, Inc. Deferred Compensation Plan and represent interests in an unfunded unitized company stock fund.
• The number of shares attributed to a plan participant can change based on the fair market value of PPG's common stock and the amount of cash in the fund.

Sentiment

Score: 6

Explanation: Slightly positive as it represents an executive increasing their beneficial ownership in the company, albeit through a compensation plan rather than an open market purchase. It aligns executive interests with shareholders.

Positives

• An executive acquiring additional company equity, even through a compensation plan, can signal confidence in the company's future performance.
• The deferred compensation plan aligns executive interests with long-term shareholder value.

Risks

• The value of the phantom stock units is subject to the fair market value of PPG's common stock, exposing the holder to market fluctuations.
• The units are part of an unfunded plan, which carries inherent risks related to the company's ability to meet its obligations.

Future Outlook

The phantom stock units will convert to common stock on a one-for-one basis after Robert L. Massy's termination of employment with PPG.

Industry Context

This is a routine insider transaction related to executive compensation, common across publicly traded companies, and does not reflect broader industry trends or competitive shifts.

Related Party Transactions

• The transaction involves an executive (Robert L. Massy) and the company (PPG Industries, Inc.) through a deferred compensation plan, which is a common form of related party dealing in executive compensation.

Stakeholder Impact

• Shareholders: The transaction aligns executive incentives with shareholder interests, potentially fostering long-term value creation.
• Employees: Reflects the company's executive compensation structure.

Next Steps

• Conversion of phantom stock units to common stock upon termination of employment.

Key Dates

Keywords

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