Form 4: PPG Industries: Foulkes Reports Phantom Stock Unit Transaction

Anne M. Foulkes, Sr. VP at PPG Industries, reported a transaction involving phantom stock units on June 15, 2026.

Summary

• Anne M. Foulkes, Sr. Vice President of Legal & Special Projects at PPG Industries, Inc., has filed a Form 4 statement detailing a transaction.
• The transaction involved phantom stock units, which convert to common stock on a one-for-one basis.
• The earliest transaction date reported is June 15, 2026.
• Foulkes acquired 15,722.2 phantom stock units.
• These units are part of the PPG Industries, Inc. Deferred Compensation Plan and represent interests in a company stock fund.
• The number of shares attributed to Foulkes may fluctuate based on the fair market value of PPG's common stock and the fund's cash balance.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports an insider's routine transaction with phantom stock units without providing new financial or strategic information.

Positives

• The reporting person, Anne M. Foulkes, has acquired additional phantom stock units, indicating continued participation and potential future equity in the company.
• The transaction is structured under a plan that may satisfy affirmative defense conditions of Rule 10b5-1(c), suggesting a pre-planned and potentially non-insider trading related event.

Negatives

• The filing does not provide specific financial performance data or strategic updates, making it difficult to assess the broader financial health of the company from this document alone.

Risks

• The value of the phantom stock units is subject to the fluctuation of PPG's common stock price and the cash balance within the deferred compensation fund, posing market risk to the reporting person.
• The phantom stock units are part of an unfunded plan, meaning they are not backed by specific company assets, creating a degree of counterparty risk.

Future Outlook

The future outlook for the phantom stock units is directly tied to the performance of PPG Industries' common stock and the management of the deferred compensation fund. The number of shares attributed to the reporting person may change without their volition.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions in the chemicals and coatings industry, providing transparency on executive equity holdings and movements.

Stakeholder Impact

• Shareholders: Increased transparency regarding executive equity holdings and potential future dilution if phantom units are exercised.
• Employees: The deferred compensation plan structure may influence employee retention and incentive strategies within PPG Industries.
• Management: Foulkes's acquisition of phantom stock units aligns her interests with those of other shareholders, subject to market fluctuations.

Next Steps

• The number of phantom stock units held by Anne M. Foulkes may change based on PPG's stock performance and the deferred compensation plan's fund balance.

Key Dates

Keywords

PPG Industries, Form 4, Anne M. Foulkes, Phantom Stock Units, Deferred Compensation Plan, Insider Transaction, Beneficial Ownership, SEC Filing