LAMACH MICHAEL W 4

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.