Topalian Leon J 4

What Happened

• Leon J. Topalian, a director of PPG Industries, received an award of 8.644 derivative shares (phantom stock units) on March 12, 2026. The units were valued at $100.73 each, for a total reported value of approximately $871. This was an award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-12; Report filed: 2026-03-13 (appears timely).
• Price/value: 8.644 units × $100.73 = ~$871 (derivative award).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • F1: Each unit converts to common stock on a one-for-one basis.
  • F2: Conversion/payment occurs after termination of service as a director.
  • F3: These are phantom stock units under the PPG Deferred Compensation Plan for Directors; they are interests in an unfunded unitized stock-and-cash fund and may change in number/value based on the plan’s fund performance.
• Filing type: Award of derivative units (code A). No 10b5-1 plan, sale, or tax-withholding action reported.

Context

• This was a deferred-compensation award (phantom stock units), common for non-employee directors; it does not represent an immediate open-market purchase or sale. Per footnotes, the units convert one-for-one to common shares and are payable after director service ends, so this award does not necessarily reflect immediate buying/selling intent.