Hefel Juliane M. 4

What Happened

• Juliane M. Hefel, Senior Vice President, Industrial Coatings & Specialty Products at PPG Industries (PPG), was granted 1.591 shares (derivative units) on 2026-03-12. The units were recorded at $100.73 each, for a reported value of about $160. This filing reports an award/grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-12; Form 4 filed: 2026-03-13 (filed promptly the next day).
• Price per unit recorded: $100.73; total reported value: ~$160 (derivative).
• Transaction type: Award/grant of phantom stock units (derivative acquisition).
• Shares owned after transaction: Not specified in this Form 4.
• Notable footnotes:
  • F1: The security converts to common stock on a one-for-one basis.
  • F2: Conversion/settlement may occur following termination of employment.
  • F3: These are phantom stock units held in PPG’s Deferred Compensation Plan (an unfunded unitized stock/cash fund); unit counts and value can vary with the company’s stock price and fund cash.
• Filing timeliness: Appears timely (filed one day after the report date).

Context

• These were phantom stock units in a deferred compensation plan—not immediate common shares. Such units represent an interest in a stock/cash fund and may convert to common shares one-for-one (per footnote) or be paid in cash depending on plan terms and employment status. Awards like this are routine compensation for executives and do not by themselves indicate a buy/sell signal.