Braun Kevin D. 4

What Happened
Kevin D. Braun, Senior Vice President, Operations at PPG Industries (PPG), received a grant/award (derivative) on January 30, 2026: 0.773 phantom stock units valued at $115.63 per share, equal to about $89 in total. The transaction is reported as an award (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-30; Filing date: 2026-02-02 (filing appears timely).
• Award: 0.773 phantom stock units at $115.63 per share; total reported value ≈ $89.
• Security type: Derivative phantom stock units that convert to common stock on a one-for-one basis (Footnote F1).
• Payment/vesting note: Conversion/payment relates to post‑employment/deferred compensation arrangements (Footnotes F2, F3) — these are phantom units in PPG’s Deferred Compensation Plan and may be payable or convert after termination of employment.
• Shares owned after transaction: Not specified in the filing.

Context

• This was an award of phantom stock units (deferred compensation), not a market purchase or sale. Phantom units track the value of PPG stock and may change with the stock’s fair market value; they represent an unfunded interest in a unitized stock/cash fund (Footnote F3). Such grants are typically compensation-related and do not by themselves indicate the insider buying or selling stock in the open market.