Form 4: PPG Senior VP Acquires Phantom Stock Units in Deferred Compensation Plan

Amy R. Ericson, Senior Vice President of P&M Coatings at PPG Industries, Inc., acquired 13.7198 phantom stock units as part of the company's deferred compensation plan.

Summary

• Amy R. Ericson, Sr. VP, P&M Coatings at PPG Industries, Inc. (PPG), acquired 13.7198 phantom stock units on July 15, 2025.
• The acquisition was part of the PPG Industries, Inc. Deferred Compensation Plan.
• Each phantom stock unit was valued at $114.29.
• Following this transaction, Amy R. Ericson beneficially owns a total of 59.9198 phantom stock units.
• Phantom stock units convert to common stock on a one-for-one basis after termination of employment.
• The number of shares attributed to the participant may fluctuate based on the fair market value of PPG's common stock and the cash balance within the fund.

Sentiment

Score: 6

Explanation: Slightly positive as it indicates continued executive participation in the company's long-term incentive plans, aligning interests with shareholders, but it's a routine compensation event rather than a direct investment decision.

Positives

• Acquisition of phantom stock units by a Senior Vice President indicates continued alignment of management's interests with shareholder value.
• Participation in a deferred compensation plan suggests long-term commitment to the company.

Risks

• The value of phantom stock units is subject to the fair market value of PPG's common stock, meaning their value can fluctuate.
• The number of shares attributed to the reporting person may change based on the amount of cash in the fund, which is a characteristic of the deferred compensation plan.

Future Outlook

The phantom stock units convert to common stock on a one-for-one basis after termination of employment, aligning future benefits with company performance.

Management Comments

• The transaction involves Amy R. Ericson, Sr. VP, P&M Coatings, acquiring phantom stock units as part of a deferred compensation plan.

Industry Context

This transaction is a standard executive compensation practice within the broader industrials and materials sector, where deferred compensation plans often include equity-linked instruments to align management incentives with long-term company performance.

Comparison to Industry Standards

• Deferred compensation plans involving phantom stock units are common across large publicly traded companies, including peers in the chemicals and coatings industry such as Sherwin-Williams (SHW) or AkzoNobel (AKZA.AS), which also utilize various forms of equity-based compensation to retain and incentivize senior management.
• The one-for-one conversion to common stock is a typical feature of such units, similar to restricted stock units (RSUs) offered by many corporations.

Related Party Transactions

• The acquisition of phantom stock units is through the PPG Industries, Inc. Deferred Compensation Plan, which is an arrangement between the company and its executive.

Stakeholder Impact

• Shareholders: May view this as a positive sign of management's long-term commitment and alignment with shareholder interests.
• Employees: Reflects standard executive compensation practices within the company.

Next Steps

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

Key Dates

Recommendation

Keywords

PPG Industries, PPG, SEC Form 4, Insider Trading, Phantom Stock Units, Deferred Compensation, Executive Compensation, Amy R. Ericson, Beneficial Ownership