Form 4: PPG Industries Senior VP Acquires Fractional Phantom Stock Units Under Compensation Plan

Alisha Bellezza, Senior Vice President of Automotive Coatings at PPG Industries, reported the acquisition of 0.6511 phantom stock units on June 13, 2025, as part of a pre-arranged compensation plan, increasing her total holdings to 72.3155 units.

Summary

• Alisha Bellezza, Senior Vice President of Automotive Coatings at PPG Industries, Inc., acquired 0.6511 phantom stock units.
• The transaction occurred on June 13, 2025, and was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged contract or instruction.
• Following this acquisition, Ms. Bellezza beneficially owns a total of 72.3155 phantom stock units.
• Each phantom stock unit converts to one share of PPG common stock on a one-for-one basis.
• The units are exercisable after the termination of employment with PPG.
• Phantom stock units represent interests in an unfunded unitized company stock fund, with the number of shares attributed potentially changing based on the fair market value of PPG's common stock and the amount of cash in the fund.
• The value per phantom stock unit at the time of acquisition was $106.3.

Sentiment

Score: 6

Explanation: Slightly positive as it indicates continued equity alignment of a senior executive with the company's performance, reinforcing management's vested interest. However, the transaction volume is very small and routine, limiting its overall impact on sentiment.

Positives

• The acquisition of phantom stock units by a Senior Vice President aligns management's interests with shareholder value, as the value of these units is tied to the company's stock performance.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged and transparent compensation mechanism.

Risks

• The value of the phantom stock units is directly tied to the fair market value of PPG's common stock, exposing the holder to market fluctuations.
• The number of shares attributed to the phantom stock units can change 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 variability in the ultimate payout.

Future Outlook

The document primarily reports a past transaction related to executive compensation and does not provide specific forward-looking statements or guidance regarding the company's future performance, strategic direction, or financial outlook, beyond the vesting condition of the phantom stock units upon termination of employment.

Industry Context

This Form 4 filing is a routine disclosure of an insider's equity compensation and does not provide broader industry context, trends, or competitive analysis. It reflects an individual executive's alignment with the company's equity performance within the paints, coatings, and specialty materials industry.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock units by a senior executive aligns their financial interests with shareholder value, as the value of these units is directly tied to the company's stock performance.

Key Dates

Keywords

PPG Industries, PPG, SEC Form 4, Insider Ownership, Phantom Stock Units, Executive Compensation, Alisha Bellezza, Rule 10b5-1 Plan