NOVO GUILLERMO 4

What Happened
Guillermo Novo, a director of PPG Industries (PPG), was granted 24.589 phantom stock units on 2026-06-12 (transaction code A). The units were valued at $119.34 each, for a total reported value of $2,934. This was a derivative award (phantom stock), not an open-market purchase.

Key Details

• Transaction date: 2026-06-12; Filing date: 2026-06-15.
• Award: 24.589 phantom stock units at $119.34 per unit; total reported value $2,934.
• Security type: Derivative phantom stock units that convert to common stock on a one-for-one basis (footnote F1).
• Conversion/vesting note: Footnotes indicate conversion to common stock is one-for-one and is tied to director service/termination conditions (F2, F3).
• Shares owned after transaction: Not specified in the filing.
• This is a compensatory director award (routine), not a market purchase or sale.

Context
Phantom stock units are a form of deferred compensation that track the value of company shares; they are typically paid out in stock and/or cash according to plan rules and do not reflect an immediate cash outflow or open-market activity. For retail investors, such awards are routine director compensation and should be viewed differently than outright purchases or sales by insiders.