Foulkes Anne M. 4

What Happened

• Anne M. Foulkes, Senior Vice President, Legal & Special Projects at PPG Industries (PPG), was granted 0.388 derivative shares (phantom stock units) on Feb 13, 2026. The award is reported at $131.34 per share, for an aggregate value of approximately $51. This transaction is coded as an award/grant (A) and is a derivative acquisition rather than an open-market purchase.

Key Details

• Transaction date: 2026-02-13. Form 4 filed: 2026-02-18 (filed within the reporting deadline).
• Security: Derivative/phantom stock unit that converts to common stock on a one-for-one basis (Footnote F1).
• Amount: 0.388 shares at $131.34 per share; total value ≈ $51.
• Shares owned after transaction: The filing does not list a specific common-stock balance; footnote F3 describes the amount as part of Foulkes’s phantom stock units in PPG’s Deferred Compensation Plan (the total units may change with plan value).
• Notable footnotes:
  • F1: Converts to common stock 1-for-1.
  • F2: References conversion/rights after termination of employment.
  • F3: Phantom stock units are interests in an unfunded unitized company stock fund (mix of stock and cash); unit counts can change with fair market value and cash in the fund.

Context

• This is a compensation award (derivative/phantom stock) rather than a market purchase or sale, so it reflects routine compensation/plan mechanics rather than an explicit bullish or bearish trading decision. Phantom units typically pay out or convert according to plan rules (including potential conversion after employment termination), and the filing does not indicate any immediate sale of underlying shares.