Hefel Juliane M. 4

What Happened

• Juliane M. Hefel, Senior Vice President, Industrial Coatings & Special Products at PPG Industries (PPG), was granted 1.201 derivative units on 2026-01-30. The filing reports an acquisition at $115.63 per share-equivalent, valuing the award at approximately $139.
• This was an award/grant of phantom stock units (a deferred-compensation instrument), not an open-market buy or sale.

Key Details

• Transaction date: 2026-01-30; Form 4 filed: 2026-02-02 (filed within the SEC’s required two-business-day window).
• Instrument: 1.201 derivative/phantom stock units at $115.63 per share-equivalent; total reported value ≈ $139.
• Shares owned after transaction: Not disclosed in this Form 4.
• Footnotes:
  • F1: Each unit converts to one share of common stock on a one-for-one basis.
  • F2: Conversion described as occurring after termination of employment with PPG.
  • F3: Units are phantom stock units in PPG’s Deferred Compensation Plan — an unfunded, unitized stock/cash fund whose credited units may change with stock price and fund cash.
• Transaction code: A (Award/Grant).

Context

• These are deferred-compensation phantom units that track PPG stock value and are not an immediate cash purchase or sale; they typically convert to actual shares (per F1/F2) or cash at termination according to plan rules.
• Awards like this are compensation-related and do not necessarily indicate the insider’s view on the company’s near-term prospects.