Morales Vincent J 4

What Happened

• Vincent J. Morales, Senior Vice President and Chief Financial Officer of PPG Industries (PPG), was granted 193.382 phantom stock units (reported as a derivative award) on 2026-03-12. The units were reported at $100.73 each, for a total reported value of $19,479. This was an award/grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-03-12; filing date: 2026-03-13 (timely).
• Price/value reported: 193.382 units × $100.73 = $19,479 (derivative award).
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Footnotes:
  • F1: Units convert to common stock on a one‑for‑one basis.
  • F2: Conversion/payout occurs after termination of employment with PPG.
  • F3: These are phantom stock units in PPG’s Deferred Compensation Plan (an unfunded unitized stock/cash fund); unit counts/value may change with the fair market value of PPG common stock and cash in the fund.
• Filing timeliness: Reported the next day, indicating a timely filing.

Context

• This was a deferred compensation award (phantom stock units), which is a derivative interest rather than immediate shares. Such awards typically vest or are paid out according to plan rules (here, with conversion/payout tied to employment termination per the footnote) and do not necessarily indicate immediate buying or selling of underlying stock.