NOVO GUILLERMO 4

What Happened

• Guillermo Novo, a director of PPG Industries, received an award/acquisition of 91.616 derivative units (phantom stock units) on 2026-03-12. The filing reports a per‑unit value of $100.73, for a reported total value of $9,228. The transaction is reported as an award/acquisition (code A) of a derivative security.

Key Details

• Transaction date and price: 2026-03-12 — 91.616 units at $100.73 per unit; total ~$9,228.
• Transaction type: Award/other acquisition of a derivative (phantom stock unit) — Form 4 code A.
• Shares/units owned after transaction: Not specified in the provided filing data.
• Filing date/timeliness: Form filed 2026-03-13 (next day), which appears timely.
• Footnotes from the filing:
  • F1: The security converts to common stock on a one-for-one basis.
  • F2: “After termination of service as a Director of PPG Industries, Inc.” (as stated in the filing).
  • F3: These are phantom stock units in the PPG Deferred Compensation Plan for Directors; they represent interests in an unfunded unitized stock/cash fund and the number/value may change with the fair market value of PPG stock and cash in the fund.

Context

• These were derivative/phantom stock units granted under PPG’s deferred compensation plan for directors, not an open‑market purchase. Phantom units generally track the value of the company’s stock and convert to shares (per F1) or cash per plan rules; they are commonly used for director compensation and do not by themselves indicate a buying or selling decision on the market.