Nally Michael 4

What Happened

• Michael Nally, a director of PPG Industries, received an award/acquisition of 72.78 derivative shares (phantom stock units) on 2026-03-12. The filing lists a per-share value of $100.73, for a total reported value of $7,331. The transaction is reported as an award/derivative (code A) rather than an open-market purchase.

Key Details

• Transaction date: 2026-03-12; SEC Form 4 filed: 2026-03-13 (timely).
• Amount and value: 72.78 shares × $100.73 = $7,331 (derivative award).
• Transaction type: A (award/acquisition); instrument: phantom stock units in PPG’s Deferred Compensation Plan for Directors (derivative).
• Footnotes: F1 — converts to common stock on a one-for-one basis; F2 — references “after termination of service as a Director of PPG Industries, Inc.”; F3 — phantom stock units represent interests in an unfunded unitized company stock fund (share attribution may change with fair market value and cash in the fund).
• Shares owned after the transaction: Not specified in the provided filing.

Context

• These are director compensation units (phantom stock) in a deferred compensation plan, not an open-market buy or sale. Phantom units typically convert or pay out per plan terms and reflect deferred pay rather than immediate stock purchases — they do not by themselves indicate a trading decision about the company’s stock. The reported value is modest (~$7.3K), so market impact is minimal.