Hefel Juliane M. 4

4 · PPG INDUSTRIES INC · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

PPG Sr. VP Juliane M. Hefel Receives Phantom Stock Award

What Happened

Juliane M. Hefel, Senior Vice President, Industrial Coatings & Special Products at PPG, received a grant (award) of 1.266 derivative units on February 27, 2026. The units were recorded at $123.27 each for a total reported value of $156. This was an award (not an open-market purchase or sale).

Key Details

Transaction date: 2026-02-27; filing date: 2026-03-03.
Transaction type: Award/Grant (code A) — 1.266 derivative units @ $123.27 each; total $156.
Shares owned after transaction: not specified in the filing.
Relevant footnotes from the filing:
- F1: The security converts to common stock on a one-for-one basis.
- F2: Conversion may occur after termination of employment.
- F3: Units are "phantom stock" in PPG’s Deferred Compensation Plan and represent interests in a fund whose credited share count/value can change with the company stock price and cash in the fund.
No indication in the filing that this was a sale or a cash exercise.

Context

This was a compensation-related award of phantom stock units (derivative), not an open-market buy or sale. Phantom units track the value of company stock within a deferred compensation plan and typically convert to stock or cash according to plan rules (per footnotes), so they do not necessarily reflect immediate buying or selling activity by the insider.
The reported dollar value is small ($156), consistent with a modest deferred-compensation credit rather than a meaningful direct investment signal.

Form 4

Period: 2026-02-27

Sr. VP, Ind Coatings & Sp Prod

Transactions

Award
Phantom Stock Units
[F1][F2][F3]
2026-02-27$123.27/sh+1.266$156→ 1,149.66 total
→ Common Stock (1.266 underlying)

Footnotes (3)

[F1]The security converts to common stock on a one-for-one basis.
[F2]After termination of employment with PPG.
[F3]Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan. Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash. The number of shares attributed to the reporting person as a Plan participant may change from time to time without the volition of the reporting person depending on the fair market value of the issuer's common stock and the amount of cash in the fund.

Signature

/s/ Greg E. Gordon, Attorney-in-Fact for Juliane M. Hefel|2026-03-03

1 file