Morales Vincent J 4

What Happened
Vincent J. Morales, Senior Vice President and Chief Financial Officer of PPG Industries, exercised stock options and immediately sold the resulting shares on February 4, 2026. He exercised 12,600 options at a $101.50 strike (cost $1,278,900) and 17,072 options at a $116.32 strike (cost $1,985,815), acquiring 29,672 shares. Those shares were sold in the open market at $125.00 per share for total proceeds of $1,575,000 and $2,134,000 (total $3,709,000). The net difference between sale proceeds and option exercise cost was approximately $444,285 (before taxes/fees). The filing also shows derivative-position disposals at $0, which reflect the cancellation/settlement of the exercised options.

Key Details

• Transaction date: February 4, 2026.
• Option exercises: 12,600 shares @ $101.50 (cost $1,278,900); 17,072 shares @ $116.32 (cost $1,985,815).
• Open-market sales: 12,600 shares @ $125.00 (proceeds $1,575,000); 17,072 shares @ $125.00 (proceeds $2,134,000).
• Total shares involved: 29,672; total proceeds ~$3.709M; total option exercise cost ~$3.265M.
• Footnote F1: Sale executed pursuant to a Rule 10b5-1 trading plan adopted May 2, 2025.
• Footnote F2: Indicates total shares held in the reporting person’s PPG Employee Savings Plan as of Feb 4, 2026 (specific post-transaction holding not provided here).
• Filing timeliness: no late-filing indication provided.

Context
Because the options were exercised and the shares were sold the same day, this is effectively a cashless exercise (exercise to acquire shares followed by immediate sale). The presence of a Rule 10b5-1 plan for the sale suggests the disposition was pre-arranged. Derivative entries showing $0 disposals represent the extinguishment/settlement of the exercised option positions and do not reflect additional cash transactions.