PPG Industries Inc. reported a Form 4 insider ownership update for Robert L. Massy, dated July 15, 2026 and filed July 16, 2026. The reported change concerns derivative securities tied to PPG common stock, specifically phantom stock units held through the PPG Industries, Inc. Deferred Compensation Plan. The securities described in the filing are phantom stock units that convert into PPG common stock on a one-for-one basis. According to the explanatory notes, conversion occurs after Massy’s termination of employment with PPG. The units represent interests in an unfunded unitized company stock fund made up of PPG stock and cash, rather than immediately issued shares. The filing’s notes also explain that the number of PPG shares attributed to Massy under the plan may fluctuate over time without any voluntary action by him. Those changes can result from movements in the fair market value of PPG common stock and from the amount of cash held in the fund. As a result, the reported change appears to be a plan-related beneficial ownership update rather than a conventional open-market purchase or sale. The provided filing text does not include the transaction table details needed to identify the exact number of phantom stock units involved, the number beneficially owned after the transaction, any transaction price, or a transaction code such as purchase, sale, grant, or disposition. The filing was signed on Massy’s behalf by Greg E. Gordon as attorney-in-fact.