Massy Robert L. 4

What Happened

• Robert L. Massy, Senior Vice President and Chief Human Resources Officer of PPG Industries, received an award of 0.206 phantom stock units on Feb 13, 2026. The units are reported at a price of $131.34 per share, equal to about $27 in value. The transaction is coded as an acquisition/award (A) of a derivative security.

Key Details

• Transaction date: 2026-02-13; Filing date: 2026-02-18 (filed on time).
• Reported terms: 0.206 units × $131.34 = ~$27 (derivative award).
• Security type: Phantom stock units (derivative) that convert to common stock on a one-for-one basis (Footnote F1).
• Payment/vesting note: These units are part of the PPG Deferred Compensation Plan and are payable/convertible after termination of employment (Footnotes F2, F3). The units represent interests in an unfunded unitized stock fund; credited amounts may change with the company’s stock value and cash in the fund (F3).
• Shares owned after transaction: Not specified in the filing.
• Filing timeliness: Form 4 was filed within the required reporting window (not late).

Context

• This was an award of phantom (deferred) stock units, not an open-market purchase or sale. Phantom units track company stock value and typically pay out in shares or cash in the future (here, after employment ends), so they do not necessarily reflect an immediate buy/sell signal. The dollar value is very small (~$27), indicating a minor adjustment in deferred compensation rather than a large equity stake change.