LAMACH MICHAEL W 4

4 · PPG INDUSTRIES INC · Filed Apr 17, 2026

AI-generated summary of this filing

Updated Apr 17, 2026

PPG Director Michael Lamach Converts RSUs and Receives Phantom Units

What Happened

Michael W. Lamach, a director of PPG Industries (PPG), reported converting 1,849 vested restricted stock units (RSUs) into phantom stock units on April 15, 2026, valued at $107.72 each for a total of $199,174. He deferred receipt of the underlying shares under PPG’s Deferred Compensation Plan for Directors (so no open‑market sale occurred). On April 16, 2026 he was also recorded as acquiring 1,684 additional phantom/derivative units via a grant (reported at $0.00 per unit).

Key Details

Transaction dates and prices:
- 2026-04-15: Conversion of 1,849 RSUs into phantom stock — acquired value $107.72/share, total $199,174; the filing also shows a corresponding disposition of 1,849 RSUs as part of the deferral.
- 2026-04-16: Grant/award of 1,684 derivative units (reported at $0.00).
Shares owned after the transaction: the filing does not state a post-transaction common stock balance; it reports phantom stock units held under the Deferred Compensation Plan (total units not shown in the excerpt).
Notable footnotes:
- The RSUs vested on April 15, 2026 and were deferred into phantom stock units under the Plan (F1, F4).
- Phantom stock units convert to common stock one‑for‑one and represent interests in an unfunded fund of stock and cash (F2, F4).
- The 1,684 units appear tied to restricted stock unit awards that vest on April 14, 2027 (F5, F6).
Filing timeliness: Reported April 17, 2026 for a 4/15/2026 transaction — within the typical two‑business‑day insider reporting window (no late filing indicated).

Context

This was not an open‑market purchase or sale. The filing documents an internal deferral/conversion of vested RSUs into phantom units (a common director compensation election) plus a new award that vests later. Such derivative/deferral actions reflect compensation and election choices rather than straightforward buy/sell signals for stock sentiment.

Form 4

Period: 2026-04-15

Director

Transactions

Exercise/Conversion
Restricted Stock Units
[F1]
2026-04-15−1,849→ 0 total
→ Common Stock (1,849 underlying)
Exercise/Conversion
Phantom Stock Units
[F2][F3][F4]
2026-04-15$107.72/sh+1,849$199,174→ 15,946.464 total
→ Common Stock (1,849 underlying)
Award
Restricted Stock Units
[F5][F6]
2026-04-16+1,684→ 1,684 total
→ Common Stock (1,684 underlying)

Footnotes (6)

[F1]Upon the vesting of restricted stock units on April 15, 2026, which were granted to the reporting person on April 17, 2025, the reporting person deferred the receipt of 1,849 shares of common stock and received instead shares of phantom stock pursuant to the PPG Industries, Inc. Deferred Compensation Plan for Directors. As a result, the reporting person is reporting the conversion of restricted stock units relating to 1,849 shares of common stock in exchange for shares in phantom stock.
[F2]The security converts to common stock on a one-for-one basis.
[F3]After termination of service as a Director of PPG Industries, Inc.
[F4]Total of all phantom stock units held by the reporting person in the PPG Industries, Inc. Deferred Compensation Plan for Directors. Phantom stock units represent interests in an unfunded unitized company stock fund comprised of stock and cash. The number of shares attributed to the reporting person as a Plan participant may change from time to time without the volition of the reporting person depending on the fair market value of the issuer common stock and the amount of cash in the fund.
[F5]Each restricted stock unit represents a contingent right to receive one share of PPG common stock.
[F6]The restricted stock units vest on April 14, 2027.

Signature

/s/ Greg E. Gordon, Attorney-in-Fact for Michael W. Lamach|2026-04-17

1 file