Braun Kevin D. 4

What Happened

• Kevin D. Braun, Senior Vice President, Operations at PPG Industries (PPG), was granted/acquired 4.513 derivative shares (phantom stock units) on 2026-06-12. The per-share amount used in the filing is $119.34, giving a reported value of about $539. This was an award (derivative), not an open-market buy or sale.

Key Details

• Transaction date and price: 2026-06-12; 4.513 units valued at $119.34 each (total ≈ $539).
• Transaction type: Award/Grant (derivative phantom stock units).
• Shares owned after transaction: Not stated in the filing.
• Footnotes of note:
  • F1: Each unit converts to common stock on a one-for-one basis.
  • F2: Conversion/settlement may occur after termination of employment.
  • F3: Units are phantom stock in PPG’s Deferred Compensation Plan and track a unitized stock/cash fund; unit counts/value can change with the stock’s fair market value and fund cash.
• Filing timeliness: Report filed 2026-06-15 for a 2026-06-12 transaction; this appears to be within the standard two-business-day Form 4 filing window.

Context

• These are phantom stock units (a deferred compensation vehicle) rather than immediate share purchases or option exercises. Such awards are typically part of compensation and may convert or settle according to plan rules (here, a 1:1 conversion and possible post-employment settlement), so they don’t necessarily signal an immediate buy/sell intent by the insider.