Form 4: PPG Industries Director Gary Heminger Reports Acquisition of Phantom Stock Units

PPG Industries Director Gary R. Heminger reported the acquisition of 54.5182 phantom stock units as part of a deferred compensation plan, increasing his total beneficial ownership to 10,638.9608 units.

Summary

• Gary R. Heminger, a Director of PPG Industries Inc. (PPG), acquired 54.5182 phantom stock units.
• The transaction occurred on June 12, 2025.
• Each phantom stock unit was valued at $112.03.
• These units are part of the PPG Industries, Inc. Deferred Compensation Plan for Directors.
• Phantom stock units convert to common stock on a one-for-one basis.
• Following this acquisition, Mr. Heminger beneficially owns a total of 10,638.9608 phantom stock units.
• The number of shares attributed to plan participants may change from time to time without the volition of the reporting person depending on the fair market value of the issuer's common stock and the amount of cash in the fund.

Sentiment

Score: 6

Explanation: The document is a routine insider transaction filing, indicating standard compensation practices. It is neutral to slightly positive as it shows a director's continued equity participation, but contains no new strategic or financial news.

Positives

• Indicates ongoing participation and alignment of a director's interests with shareholders through a deferred compensation plan.
• The acquisition of phantom stock units is a routine part of director compensation, reflecting standard corporate governance practices.

Risks

• The value of phantom stock units is subject to the fair market value of PPG Industries, Inc. common stock, exposing the holder to market fluctuations.
• The number of shares attributed to the reporting person may change without their volition depending on the fair market value of the issuer's common stock and the amount of cash in the fund.

Future Outlook

The document does not provide specific forward-looking statements or guidance beyond the nature of the phantom stock units converting to common stock upon termination of service as a Director.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, specifically related to director compensation. Such filings are common across all publicly traded companies as part of their executive and director compensation programs, aligning management interests with shareholder value. It does not provide broader industry trends.

Comparison to Industry Standards

• This filing details a standard compensation mechanism (phantom stock units) for a director, which is a common practice in publicly traded companies across various industries.
• The specific value and number of units are company-specific and depend on PPG's compensation policies and the director's tenure, making direct comparisons to other companies' specific compensation grants difficult without more context on their respective plans.
• The use of equity-linked compensation for directors is an industry standard.

Related Party Transactions

• The acquisition of phantom stock units by a director is part of the company's Deferred Compensation Plan for Directors, which can be considered a related party transaction as it involves compensation to an insider.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock units by a director aligns the director's interests with shareholders, as the value of these units is tied to the company's stock performance. It represents a routine compensation expense for the company.
• Employees: No direct impact mentioned.
• Customers/Suppliers/Creditors: No direct impact mentioned.

Next Steps

• The phantom stock units will convert to common stock upon termination of service as a Director of PPG Industries, Inc.

Key Dates

Keywords

PPG Industries, PPG, Form 4, SEC Filing, Insider Transaction, Phantom Stock Units, Director Compensation, Deferred Compensation Plan, Gary R. Heminger, Equity Compensation