Massy Robert L. 4

What Happened
Robert L. Massy, Senior Vice President and Chief Human Resources Officer of PPG Industries, received a derivative award of 1.615 shares (phantom stock units) on 2026-03-12. The reported per-share value was $100.73, giving a total reported value of about $163. This was an award/grant (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-12; filing date: 2026-03-13.
• Instrument: Phantom stock units / derivative award reported as 1.615 units at $100.73 each; total ≈ $163.
• Conversion: Footnote F1 — each unit converts to common stock on a one-for-one basis.
• Payout timing: Footnote F2 — related payout occurs after termination of employment.
• Plan details: Footnote F3 — units are phantom stock in the PPG Deferred Compensation Plan (unfunded unitized stock fund; value can change with fair market value and cash in the fund).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Filing timeliness: Filed promptly the next day (no late filing indicated).

Context
This was a small-value deferred-compensation award of phantom units rather than an immediate purchase of common stock. Phantom units typically pay out in cash or stock later (often upon separation/retirement) and can fluctuate with the company’s stock value; they do not necessarily indicate near-term buying or selling intent by the insider.