Foulkes Anne M. 4

What Happened

Anne M. Foulkes, Senior Vice President, Legal & Special Projects at PPG Industries, received an award of 0.94 derivative shares on February 27, 2026. The filing lists a per-share value of $123.27 for a total reported value of $116. The transaction is recorded as an award/grant (code A) of a derivative security (phantom stock unit), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-27 (reported on Form 4 filed 2026-03-02). Filing appears timely.
• Transaction type/code: Award/Grant (A) — derivative security (phantom stock unit).
• Quantity and price: 0.94 shares × $123.27 per share = $116 (reported).
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes from the filing:
  • F1: The security converts to common stock on a one-for-one basis.
  • F2: Reference to conversion/settlement after termination of employment.
  • F3: The units are phantom stock units held in PPG’s Deferred Compensation Plan (unfunded, unitized stock/cash fund); the number attributed can change with the fund’s value.

Context

This was an award of phantom stock units under PPG’s deferred compensation plan, not a cash purchase or sale. Phantom units track the company’s stock value and may convert or settle subject to plan terms (including potential settlement on termination). Such awards are typically part of executive compensation and do not by themselves indicate a personal buy/sell decision by the insider.