NOVO GUILLERMO 4

What Happened

Guillermo Novo, a director of PPG Industries (PPG), was credited with 323.953 phantom stock units (reported as an acquisition/award, code A) on July 1, 2026. The units were valued at $122.61 each for a total reported value of $39,720. This was a derivative award under PPG’s Deferred Compensation Plan for Directors, not an open-market purchase of common stock.

Key Details

• Transaction date and reporting: July 1, 2026; filing dated July 2, 2026 (appears timely).
• Instrument and amount: 323.953 phantom stock units at $122.61 per unit (total ~$39,720); transaction code A (award/grant).
• Shares owned after the transaction: Not specified in the filing.
• Footnotes:
  • F1: Units convert to common stock on a one-for-one basis.
  • F2: Conversion/payability occurs after termination of service as a director.
  • F3: These are phantom stock units in the PPG Deferred Compensation Plan for Directors (an unfunded, unitized stock/cash fund whose unit count/value may change with PPG’s stock price and cash in the fund).
• Nature of transaction: Derivative award (phantom units), not immediate common-stock ownership.

Context

Phantom stock units are a deferred-compensation vehicle that tracks the value of company stock and may convert to actual shares (or cash equivalent) later, often after a director leaves service. Because this is an award under the director deferred compensation plan and not an open-market purchase or sale, it should not be read as a direct buy/sell signal by the director.