NOVO GUILLERMO 4

4 · PPG INDUSTRIES INC · Filed Apr 17, 2026

AI-generated summary of this filing

Updated Apr 17, 2026

PPG Director Guillermo Novo Exercises RSUs, Receives Awards

What Happened

Guillermo Novo, a director of PPG Industries (PPG), reported derivative and award transactions tied to restricted stock units (RSUs) and phantom stock. On April 15, 2026 he converted/exercised 1,849 vested RSUs into phantom stock units (reported acquisition value: 1,849 @ $107.72 = $199,174). The filing also shows a grant/award reported April 16, 2026 of 401.213 RSU-equivalent units at $112.16 each (value reported $45,000), plus an additional reported acquisition of 1,684 derivative units at $0.00. These transactions are awards/plan deferrals rather than open‑market purchases or sales.

Key Details

Transaction dates: April 15, 2026 (conversion/exercise) and April 16, 2026 (grant/award).
Reported amounts and values: 1,849 units @ $107.72 = $199,174 (conversion); 401.213 units @ $112.16 = $45,000 (award); entries of 1,849 @ $0.00 (disposed) and 1,684 @ $0.00 (acquired) also appear in the filing.
Shares owned after transaction: the Form 4 does not list total PPG common shares held as regular stock; the filing reports phantom stock units held under the company Deferred Compensation Plan for Directors (see footnote F4).
Notable footnotes: F1 explains Novo deferred receipt of vested RSUs and received phantom stock under the Deferred Compensation Plan; F2 notes phantom/security converts to common stock one‑for‑one; F4 describes phantom units as interests in an unfunded unitized stock/cash fund; F5/F6 explain RSU mechanics and vesting schedule.
Timeliness: The Form 4 was filed April 17, 2026 for transactions on April 15–16, 2026 (filed within the standard Section 16 reporting window).

Context

These transactions reflect director compensation and deferral elections (converting vested RSUs into phantom stock and receiving new RSU/derivative awards). Phantom stock units track the value of PPG common stock but are part of a deferred, unfunded plan and are not the same as immediately tradeable shares. Such awards and deferrals are routine for directors and do not on their own indicate the director bought or sold common stock in the open market.

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]
2026-04-15$107.72/sh+1,849$199,174→ 12,754.717 total
→ Common Stock (1,849 underlying)
Award
Phantom Stock Units
[F2][F3][F4]
2026-04-16$112.16/sh+401.213$45,000→ 13,155.93 total
→ Common Stock (401.213 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 Guillermo Novo|2026-04-17

1 file