PPG HR Chief Robert Massy Receives Phantom Stock Award

What Happened Robert L. Massy, Senior Vice President and Chief Human Resources Officer of PPG Industries, received a grant of 0.392 phantom stock units on May 15, 2026. The filing reports the units valued at $102.64 each, totaling $40. This transaction is an award/acquisition (code A) of a derivative (phantom stock) tied to PPG common stock, not an open-market purchase of shares.

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-18.
• Grant: 0.392 phantom stock units at $102.64 per share = $40 (derivative award).
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: the units convert to common stock on a one-for-one basis (F1) and conversion/payout is tied to termination of employment (F2). These are phantom stock units in PPG’s Deferred Compensation Plan (F3) — an unfunded unitized stock/cash fund whose credited units and value can change with the company’s stock price and fund cash.
• Transaction code: A (award/grant of a derivative).

Context Phantom stock units are a form of deferred compensation that mirror the economic value of shares but do not represent immediate ownership or voting rights. They typically pay out (or convert to shares) at a future date or upon termination, so this award is a routine compensation event rather than a direct insider purchase or sale indicating trading sentiment.