PPG Sr. VP Robert Massy Receives 1.365-Unit Phantom Stock Award

What Happened Robert L. Massy, Senior Vice President and Chief Human Resources Officer of PPG Industries (PPG), was granted 1.365 units classified as a derivative award on 2026-09-11. The award is reported at $105.50 per share for a total reported value of $144. This was an award (not an open-market purchase or sale) under PPG’s deferred compensation arrangement.

Key Details

• Transaction date: 2026-09-11; Form filed: 2026-09-14. No indication the filing was late.
• Instrument: Derivative award (phantom stock units) — 1.365 units @ $105.50 each; total value $144.
• Shares owned after transaction: Not specified on the Form 4.
• Footnotes:
  • F1: Each unit converts to one share of common stock on a one-for-one basis.
  • F2: Conversion/payment occurs after termination of employment with PPG.
  • F3: These are phantom stock units in PPG’s Deferred Compensation Plan (an unfunded unitized company stock fund of stock and cash); unit counts and attributed share equivalents can change with the fair market value and cash in the fund.

Context Phantom stock unit awards in deferred compensation plans are not immediate purchases of common stock and typically pay out in cash or stock later (here, after employment ends). Such awards are routine compensation/retention tools and do not by themselves indicate insider buying or selling sentiment.