Braun Kevin D. 4

What Happened
Kevin D. Braun, Senior Vice President, Operations at PPG Industries (PPG), received an award of 19.464 derivative shares (phantom stock units) on 2026-02-27. The award is reported at an acquisition price of $123.27 per share, with a total reported value of approximately $2,399. This was an award/grant (not an open-market purchase or sale) and represents deferred compensation rather than an immediate cash transaction.

Key Details

• Transaction date: 2026-02-27; Form 4 filed: 2026-03-02 (filed within the standard two-business-day reporting window).
• Transaction type/code: A (award/grant/acquisition of a derivative).
• Shares/units awarded: 19.464 phantom stock units at $123.27 each; total value ≈ $2,399.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes:
  • F1: The derivative converts to common stock on a one-for-one basis.
  • F2: Conversion occurs after termination of employment with PPG.
  • F3: These are phantom stock units held in PPG's Deferred Compensation Plan; unit counts and attributed shares may change with the plan fund’s value.

Context
This award appears to be part of PPG’s deferred compensation program (phantom stock units) and is typically a routine compensation action rather than a market-timed purchase or sale. Because these units convert to common stock only upon certain conditions (e.g., post‑employment) and their attributed amount can vary with the plan’s fund value, they do not directly indicate an immediate change in the insider’s market exposure.