PPG SVP Alisha Bellezza Receives 0.732 Phantom Share Award

What Happened

Alisha Bellezza, Senior Vice President of the Industrial Coatings segment at PPG Industries, received an award of 0.732 derivative phantom shares on 2026-09-15. The award is recorded at $104.89 per share, for a total reported value of $77 (transaction code A — award/acquisition). This was an acquisition of a derivative (not an open-market purchase or sale).

Key Details

• Transaction date and price: 2026-09-15 — 0.732 shares @ $104.89 each.
• Total value reported: $77.
• Transaction type: A (award/acquisition); derivative equity (phantom stock unit).
• Shares owned after transaction: Not specified in the Form 4.
• Filing date: 2026-09-16 (filed the next day; appears timely).
• Relevant footnotes:
  • F1: Security converts to common stock on a one-for-one basis.
  • F2: Conversion/vesting may occur after termination of employment (per filing note).
  • F3: Units are phantom stock units in PPG’s Deferred Compensation Plan (an unfunded unitized stock-and-cash fund; unit counts/value may change with share price and cash in the fund).

Context

Phantom stock units are a form of deferred compensation that track the value of company stock; they do not represent immediate common-share ownership and are typically payable in stock or cash per plan terms. This award is administrative/compensatory in nature and is small in dollar value ($77), so it does not by itself indicate a significant insider bullish or bearish signal.