KNAVISH TIMOTHY M 4

What Happened
Timothy M. Knavish, Chairman and CEO of PPG Industries (PPG), received a performance-based restricted stock unit settlement of 25,408 shares on Feb 18, 2026. To cover tax withholding related to the award, 9,886 shares were surrendered/withheld at $128.25 per share, totaling $1,267,880. That implies a gross value for the award of roughly $3.26M (25,408 × $128.25) and a net increase to his holdings of about 15,522 shares after withholding.

Key Details

• Transaction date: 2026-02-18; Form 4 filed Feb 20, 2026 (timely filing).
• Award: 25,408 shares (code A) acquired at $0.00 (restricted stock unit settlement).
• Withholding/disposition: 9,886 shares (code F) withheld/disposed at $128.25, proceeds used for tax liability = $1,267,880.
• Net new shares retained from the settlement: ~15,522 shares (25,408 awarded − 9,886 withheld).
• Footnotes: F1 indicates this was settlement of a 2023 performance RSU award; F2 references total shares held in his PPG Employee Savings Plan account as of Feb 18, 2026 (specific balance not provided in the summary data).
• Filing timeliness: Filing was submitted two days after the transaction date (appears timely under Section 16 rules).

Context
This was not an open-market sale or a purchase signal but a routine RSU settlement with shares withheld to satisfy tax obligations (a common practice). The withheld shares are treated as a disposition for reporting purposes but generally reflect tax withholding rather than an intentional sale for investment reasons.