Hefel Juliane M. 4

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.