PPG Director Michael Nally Receives Award of 56.3 Shares

What Happened

• Michael Nally, a director of PPG Industries, received an award/acquisition of 56.314 derivative units on 2026-06-12. The units are recorded at $119.34 each for a notional value of $6,720. This transaction is an award under PPG’s director deferred compensation arrangement rather than an open‑market purchase or sale.

Key Details

• Transaction date and type: 2026-06-12 — Grant/Award (derivative acquisition).
• Price used: $119.34 per share; total notional value ≈ $6,720.
• Shares owned after transaction: Not specified in the filing.
• Derivative nature: These are phantom stock units in PPG’s Deferred Compensation Plan for Directors (footnote F3); they convert to common stock on a one‑for‑one basis (footnote F1).
• Settlement timing note: Footnote F2 indicates conversion/settlement may relate to termination of director service.
• Filing timeliness: Reported on 2026-06-15; this appears to be a timely Form 4 filing.

Context

• Phantom stock units are a form of deferred compensation that track the company’s stock value (they represent interests in an unfunded stock/cash fund) and do not necessarily indicate a personal purchase decision. They can change in attributed amount with fair market value and cash in the fund and typically convert to common shares per plan terms.