PPG Director Michael Nally Receives Award of 98 Phantom Shares

What Happened

• Michael Nally, a director of PPG Industries, received an award of 98.088 derivative phantom stock units (reported as an acquisition) on 2026-09-11. The filing lists a per-unit value of $105.50 for a total reported value of $10,348. This was a grant of deferred compensation units rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-09-11; Filing date (Form 4): 2026-09-14 (filed within the SEC two-business-day window).
• Amount: 98.088 phantom stock units at $105.50 per unit; total reported value $10,348.
• Shares/units after transaction: filing reports 98.088 phantom stock units held by the reporting person (per footnote).
• Footnotes of note:
  • F1: Each phantom unit converts to one share of common stock on a one-for-one basis.
  • F2: Conversion/payment is tied to termination of service as a director.
  • F3: Units are part of the PPG Directors Deferred Compensation Plan and represent interests in an unfunded unitized stock/cash fund; unit counts and attributable value can change with stock fair market value and fund cash.
• Transaction type: Award/grant of derivative units (code A). No sale or exercise reported.

Context

• These are deferred compensation "phantom" units, not immediate stock purchases; they generally convert to common shares (one-for-one) and appear to be payable or settle following termination of director service. Such grants are compensation-related and do not by themselves indicate the director bought or sold underlying shares on the open market.