Foulkes Anne M.

Insider trading profile for Foulkes Anne M. at PPG Industries Inc (PPG) -- 201 transactions since 2019-02-20 through 2026-06-12, all at PPG (single company). 31,211 shares sold vs effectively zero discretionary acquisitions. Transaction pattern: Recent window (2025-2026) is dominated by A-code acquisitions of tiny sizes (0-20 shares per event) and F-code (fee) events. Notable: 2026-02-18 F-code sells: 1,424 shares + 1,271 shares = 2,695 shares at $128.25 (fee/tax-withholding event). 2026-02-18 A-code acquisition: 4,865 shares (RSU vesting). 2025-12-15 A-code: 17 shares at $103.72. 2025-12-12: 4 shares at $103.54. 2025-11-28: 17 shares at $100.04. 2025-11-14: 19 shares at $97.03. 2025-10-31: 18 shares at $97.75. 2025-10-15: 19 shares at $99.56. Throughout 2025: recurring micro-acquisitions of 15-20 shares per event -- these are RSU vesting fractions, not discretionary buys. 2025-06-13: 17 shares at $106.30. Several 0-share A-code events (2026-04-30, 2026-04-15, 2026-03-31, 2026-03-13, 2026-02-13, 2026-01-15) are likely data artifacts or cancelled transactions. The F-code fee events at $128.25 (February 2026) represent tax-withholding at vesting -- effectively a sell. Key observation: this insider's recent activity is almost entirely vesting mechanics (A-code at $97-$111 range, F-code at $128) with zero meaningful open-market conviction trades. The historical 31,211-share sell total represents the bulk of the profile but occurred over 2019-2024 period not fully shown in the recent window. The pattern is consistent with a senior insider whose PPG equity compensation is being systematically liquidated through tax events and small vesting tranches. Bearish read: while sell sizes in the recent window are small (2,695 F-code shares in February 2026 is the largest), the 7-year span (2019-2026) with no discretionary acquisitions and a 31K-share net-sell is a structural bearish signal. PPG (paints/coatings) has been a steady compounder; the absence of any insider buying at any point in the 7-year record is notable. The recent micro-A-code events (15-20 shares) are vesting fractions that will almost certainly be sold in subsequent F-code events -- they do not represent conviction holds.