PPG Industries Form 144 Filing Analysis

Based on my comprehensive research of SEC filings and market data, here is a detailed analysis of PPG Industries’ recent Form 144 filings and their potential implications for investors.

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PPG Industries has experienced two significant Form 144 filings by top executives within the past year, both of which were pre-planned transactions under Rule 10b5-1 trading plans [0][1].

Filing Date	Insider	Position	Shares to Sell	Aggregate Value	Broker	Planned Sale Date
January 15, 2026	Vincent J. Morales	Senior Vice President & CFO	5,200	$572,000	Fidelity Brokerage Services LLC	January 15, 2026
February 14, 2025	Timothy M. Knavish	Chairman & CEO	4,800	$568,080	Fidelity Brokerage Services LLC	February 14, 2025

• Vincent J. Morales (CFO):
  The filing relates to 5,200 shares from stock options granted on February 17, 2016. Morales adopted his Rule 10b5-1 trading plan on May 2, 2025, indicating this sale was pre-planned over 8 months in advance [0].

• Timothy M. Knavish (CEO):
  The filing covered 4,800 shares with an aggregate market value of $568,080, executed through Fidelity Brokerage Services [1].

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The combined value of these planned sales ($1.14 million) represents an extremely small fraction of PPG’s market capitalization ($24.67 billion), approximately

. This minimal volume suggests on the stock price [0].

Despite the small absolute size, insider sales by top executives (especially the CFO and CEO) can influence investor sentiment:

• Potential Negative Signals:
  Some investors may interpret insider sales as a lack of confidence in future stock performance, particularly when key executives like the CFO execute option exercises.

• Context Matters:
  Both executives filed under Rule 10b5-1 plans, which are
  pre-arranged trading plans
  designed to avoid accusations of insider trading. This structure actually suggests the sales were planned well in advance and may not reflect current sentiment about the company’s prospects [0][1].

The CEO’s Form 144 filing from February 2025 did not result in any sustained negative price action. PPG stock has continued to trade within its normal range, currently at $109.93, up 1.25% on the day [0].

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Based on current technical indicators [0]:

Indicator	Value	Signal
Current Price	$109.93	—
52-Week Range	$90.24 - $124.74	—
MACD	No cross (bullish)	Bullish
KDJ	K:85.3, D:78.8, J:98.2	Overbought warning
RSI (14)	Overbought territory	Risk signal
Beta (vs SPY)	1.16	Higher volatility
Support Level	$106.59	Key support
Resistance Level	$110.43	Immediate resistance
Next Target	$112.48	Potential upside

The stock is in an

, showing both bullish momentum (MACD) and overbought conditions (KDJ, RSI). The current price is approaching the immediate resistance level at $110.43.

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1. Do Not Panic Sell:
   The Form 144 filings represent routine option exercise transactions under pre-planned 10b5-1 arrangements. The small size (10,000 combined shares) and pre-planned nature suggest no immediate concern.

2. Monitor Volume:
   Watch for unusual selling volume around the planned sale dates, though the absolute numbers are too small to materially impact price.

3. Consider Broader Context:
   PPG’s Q3 2025 results showed solid performance with organic sales growth of 2% and record adjusted EPS of $2.13 [0].

1. Evaluate Insider Activity in Context:
   Compare these planned sales against the overall insider ownership and recent buying activity. The phantom stock unit acquisitions by other executives (Robert L. Massy, Anne M. Foulkes) in December 2025 suggest continued confidence among the leadership team [0].

2. Technical Overbought Condition:
   The overbought technical indicators (RSI: overbought, KDJ: overbought warning) may suggest waiting for a better entry point near the support level of $106.59.

3. Fundamental Analysis:
   PPG’s business fundamentals remain solid with strong positions in aerospace coatings, protective and marine coatings, and packaging coatings, as highlighted in their Q3 2025 earnings release [0].

• Market-Wide Risks:
  Global demand softening and potential customer inventory management in automotive refinish coatings [0].
• Executive Transition:
  CFO Morales announced his retirement effective July 1, 2026, as part of a planned succession process [0].

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The Form 144 filings by PPG executives, while noteworthy, represent

by insiders executing pre-arranged 10b5-1 trading plans. The combined impact on the stock is minimal due to the small size relative to market capitalization. Investors should focus on:

1. The pre-planned nature
   of these sales (suggests no negative insider information)
2. Recent insider buying
   (phantom stock unit acquisitions by other executives)
3. Technical overbought conditions
   (may present a short-term opportunity or risk)
4. Strong Q3 2025 fundamentals
   and continued share repurchase activity

The Form 144 filings alone do not warrant a change in investment thesis for PPG Industries. Long-term investors can maintain positions, while technical traders may wish to wait for a pullback toward the $106.59 support level before adding positions.

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[0] PPG Industries SEC Filings and Market Data (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000079879&type=144)

[1] Form 144 Filing Details - Vincent J. Morales (https://www.sec.gov/Archives/edgar/data/79879/000195917326000314/xsl144X01/primary_doc.xml)

[2] Form 144 Filing Details - Timothy M. Knavish (https://www.sec.gov/Archives/edgar/data/79879/000195917325000990/xsl144X01/primary_doc.xml)

[3] PPG Industries Q3 2025 Financial Results (https://www.sec.gov/Archives/edgar/data/79879/000007987925000306/ppg-20251028.htm)