Form 4: PPG Industries Director Michael Lamach Acquires Additional Phantom Stock Units

PPG Industries Director Michael W. Lamach has acquired 72.7403 phantom stock units as part of a deferred compensation plan, increasing his total beneficial ownership to 13,769.5323 units.

Summary

• Michael W. Lamach, a Director of PPG Industries Inc. (PPG), acquired 72.7403 phantom stock units.
• The transaction occurred on June 12, 2025, at a price of $112.03 per unit.
• Following this acquisition, Mr. Lamach beneficially owns a total of 13,769.5323 phantom stock units.
• These phantom stock units convert to common stock on a one-for-one basis and become exercisable after the termination of service as a Director.
• The units are part of the PPG Industries, Inc. Deferred Compensation Plan for Directors and represent interests in an unfunded unitized company stock fund comprised of stock and cash.

Sentiment

Score: 6

Explanation: The acquisition of phantom stock units by a director, while part of a deferred compensation plan, generally indicates continued alignment of interests with shareholders and confidence in the company's long-term prospects, contributing to a slightly positive sentiment.

Positives

• Increased beneficial ownership by a director, which generally indicates continued alignment of interests with shareholders.
• The acquisition of phantom stock units at a specific price provides a valuation point for the deferred compensation.

Risks

• The number of shares attributed to the reporting person as a Plan participant 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, introducing market value fluctuation risk.

Future Outlook

The acquired phantom stock units will convert to common stock on a one-for-one basis and become exercisable after the termination of service as a Director of PPG Industries, Inc.

Industry Context

This Form 4 filing reports an individual director's equity transaction and does not provide broader industry context or trends for the paints, coatings, and specialty materials industry.

Comparison to Industry Standards

• This Form 4 filing is a disclosure of an individual director's equity transaction and does not contain information suitable for comparison to industry standards or benchmarks related to operational or financial performance.

Stakeholder Impact

• Shareholders: Increased beneficial ownership by a director may be viewed positively as it aligns management interests with shareholder interests.

Next Steps

• Phantom stock units will convert to common stock upon termination of service as a Director.

Key Dates

Recommendation

Keywords

PPG Industries, PPG, Michael Lamach, Form 4, SEC filing, insider transaction, phantom stock units, deferred compensation, director compensation, beneficial ownership