Form 4: PPG Industries Senior VP and General Counsel Increases Stake with Phantom Stock Unit Acquisition

Anne M. Foulkes, Senior Vice President and General Counsel of PPG Industries Inc., has acquired additional phantom stock units, increasing her beneficial ownership in the company.

Summary

• Anne M. Foulkes, the Senior Vice President and General Counsel of PPG Industries Inc. (PPG), reported an acquisition of phantom stock units.
• On June 13, 2025, Ms. Foulkes acquired 17.728 phantom stock units.
• The acquisition price for these units was $106.3 per unit.
• Following this transaction, Ms. Foulkes' total beneficial ownership of phantom stock units in the PPG Industries, Inc. Deferred Compensation Plan increased to 522.9194 units.
• These phantom stock units convert to common stock on a one-for-one basis after the termination of employment with PPG.
• Phantom stock units represent interests in an unfunded unitized company stock fund, and the number of shares attributed can change 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 is generally viewed positively as it increases insider ownership and aligns management's interests with shareholders, indicating confidence in the company's future.

Positives

• The acquisition of additional phantom stock units by a senior executive increases their beneficial ownership, further aligning management's interests with those of shareholders.
• This transaction indicates continued participation in the company's equity compensation plan by a key executive.

Future Outlook

The phantom stock units are exercisable and convert to common stock after the termination of employment with PPG, indicating a long-term incentive structure.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, common across publicly traded companies as part of executive compensation and equity incentive plans. It reflects an executive's ongoing participation in the company's stock-based compensation.

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholder value due to higher beneficial ownership.
• Employees: May signal stability and confidence from leadership.

Next Steps

• The phantom stock units will convert to common stock on a one-for-one basis after the termination of employment with PPG.

Key Dates

Keywords

PPG Industries, PPG, SEC Form 4, Insider Transaction, Phantom Stock Units, Executive Compensation, Anne M. Foulkes, Corporate Governance, Beneficial Ownership