Braun Kevin D. 4

What Happened

Kevin D. Braun, Senior Vice President — Operations at PPG Industries, received a derivative award of 1.154 phantom stock units on 2026-02-13. The units were recorded at $131.34 per share, for a total reported value of $152. This was an award/acquisition (Form 4 code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-13; filing date: 2026-02-18 (filed within the required two business days given the Presidents Day holiday).
• Transaction type/code: Award/Grant (A) — derivative acquisition (phantom stock unit).
• Quantity/price/value: 1.154 units × $131.34 = $152 (rounded).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: Each security converts to common stock on a one-for-one basis.
  • F3: These are phantom stock units in the PPG Deferred Compensation Plan (unfunded unitized stock/cash fund; account value can change with PPG stock and cash in the fund).
  • F2: Payout/conversion may occur after termination of employment (per footnote).

Context

This is a small-value deferred-compensation award (phantom units), commonly used for long-term compensation and not an immediate cash or market transaction. Because these are derivative/phantom units (not an open-market purchase), they should be viewed as compensation plan activity rather than a direct insider market bet.