LIGOCKI KATHLEEN 4

What Happened
Kathleen Ligocki, a director of PPG Industries (PPG), converted 1,849 vested restricted stock units (RSUs) on April 15, 2026 into phantom stock units under PPG’s Deferred Compensation Plan for Directors — reported as the acquisition of 1,849 derivative units at $107.72 each (total ~$199,174). The filing also shows a grant/acquisition on April 16, 2026 of 1,684 derivative units (reported at $0.00), which are restricted stock units that vest on April 14, 2027.

Key Details

• Transaction dates: April 15, 2026 (conversion of 1,849 RSUs); April 16, 2026 (grant of 1,684 units).
• Prices/values reported: 1,849 units acquired at $107.72 each = $199,174; the other 1,684 units reported at $0.00 (award/grant).
• Shares owned after transaction: total phantom units held by the reporting person are noted in the filing scheme but the exact post-transaction ownership count is not provided in the excerpt.
• Footnotes summary: the 1,849 RSUs vested on April 15, 2026 and were deferred in exchange for phantom stock (F1); phantom units convert one-for-one to common stock (F2) and represent interests in an unfunded stock/cash fund whose unit count/value can fluctuate (F4); each RSU corresponds to one share if/when delivered (F5); the 1,684 newly reported RSUs vest April 14, 2027 (F6).
• Timeliness: filing dated April 17, 2026 for transactions on April 15–16, 2026 appears timely (no late-filing flag reported).

Context
These transactions are compensation/deferral actions by a director, not open-market purchases or sales. Converting vested RSUs into phantom stock means Ligocki deferred receipt of actual shares in favor of phantom units that track the stock value (and may convert to shares under plan rules), so this does not indicate a market sale. For retail investors, such director deferrals and awards are routine forms of pay and retention and should be interpreted differently than direct buys or sells in the open market.