Form 4: PPG Industries Senior VP Acquires Phantom Stock Units

Anne M. Foulkes, Senior Vice President and General Counsel of PPG Industries Inc., acquired 16.0575 phantom stock units on July 15, 2025, increasing her total holdings to 554.5633 units.

Summary

• Anne M. Foulkes, Senior Vice President and General Counsel, and a Director of PPG Industries Inc. (PPG), acquired 16.0575 phantom stock units.
• The transaction occurred on July 15, 2025, with each unit valued at $114.29.
• Phantom stock units convert to common stock on a one-for-one basis and become exercisable after termination of employment with PPG.
• Following this acquisition, Ms. Foulkes beneficially owns a total of 554.5633 phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan.
• These units represent interests in an unfunded unitized company stock fund, where the number of shares attributed can fluctuate based on the fair market value of PPG's common stock and the cash in the fund.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a senior executive indicates continued confidence in the company and aligns management's interests with long-term shareholder value, which is generally positive. The relatively small number of units acquired in this specific transaction makes it moderately positive rather than highly impactful.

Positives

• An executive and director, Anne M. Foulkes, increased her beneficial ownership in the company through the acquisition of 16.0575 phantom stock units.
• The acquisition of phantom stock units, which convert to common stock, aligns the executive's interests with shareholder value.

Risks

• The number of shares attributed to the reporting person from phantom stock units may change without their volition, depending on the fair market value of PPG's common stock and the amount of cash in the fund.

Future Outlook

The phantom stock units become exercisable after the termination of employment with PPG, indicating a long-term incentive structure.

Industry Context

This filing is a standard disclosure of an insider transaction, reflecting an executive's participation in a deferred compensation plan, which is common practice across various industries to align management incentives with company performance.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock units by a senior executive aligns management's long-term interests with shareholder value, potentially signaling confidence.

Next Steps

• Phantom stock units will convert to common stock upon termination of employment with PPG.

Key Dates

Recommendation

Keywords

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