Form 4: PPG Executive to Acquire Additional Phantom Stock Units

PPG Industries Senior Vice President and General Counsel Anne M. Foulkes is set to acquire 17.9191 phantom stock units, increasing her total holdings to 572.4824 units.

Summary

• Anne M. Foulkes, Sr. VP and General Counsel of PPG Industries, is scheduled to acquire 17.9191 phantom stock units on July 31, 2025.
• These phantom stock units convert to common stock on a one-for-one basis.
• The acquisition price for the derivative security is $105.5 per unit.
• Following this planned transaction, Foulkes will beneficially own a total of 572.4824 phantom stock units.
• These units are held in the PPG Industries, Inc. Deferred Compensation Plan and represent interests in an unfunded unitized company stock fund.
• The number of shares attributed to the participant may fluctuate based on the fair market value of PPG common stock and the amount of cash in the fund.

Sentiment

Score: 7

Explanation: The planned acquisition of phantom stock units by a senior executive is generally viewed as a positive signal, indicating alignment of interests with the company's performance.

Positives

• Senior management is increasing their beneficial ownership in the company through a planned acquisition of phantom stock units.
• The planned acquisition of phantom stock units aligns management's interests with shareholder value, as these units convert to common stock on a one-for-one basis.

Future Outlook

The phantom stock units are scheduled to become exercisable after termination of employment with PPG.

Industry Context

This filing details a routine insider transaction related to executive compensation, which is a common practice across industries to align management incentives with company performance.

Comparison to Industry Standards

• Not applicable as this filing details a specific insider transaction rather than company performance metrics.

Related Party Transactions

• The phantom stock units are held within the PPG Industries, Inc. Deferred Compensation Plan, which is a company-sponsored plan.

Stakeholder Impact

• Shareholders: The planned increase in executive beneficial ownership may be viewed positively as it aligns management's interests with shareholder value.

Next Steps

• Phantom stock units are scheduled to become exercisable after termination of employment with PPG.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of phantom stock units by a senior executive as part of a deferred compensation plan. While it indicates alignment of interests, it does not provide new material information to warrant a change in investment thesis or a strong buy/sell recommendation.

Keywords

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