PG&E grants 420.710 phantom stock units to EVP

PG&E Corp (PCG) reported that officer Alejandro T. Vallejo, EVP and Chief People Officer, acquired 420.710 units of Phantom Stock on 2026-08-21 as a grant/award.

Rhea-AI Filing Summary

PG&E Corp (PCG) reported that officer Alejandro T. Vallejo, EVP and Chief People Officer, acquired 420.710 units of Phantom Stock on 2026-08-21 as a grant/award. Each phantom stock unit is economically equivalent to one share of common stock and is payable in cash after his service as an officer ends. Following this award, Vallejo holds a total of 34,930.540 phantom stock units, which arise from deferred compensation under the SRSP and credits under the DC-ESRP, each exempt under Rule 16b-3(d).

Insider Trade Summary

Grant/Award: 420.71 shares

Grant/Award 1 txn

Insider Vallejo Alejandro T

Role EVP, Chief People Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock F1, F2	420.71	$17.60	$7K

Holdings After Transaction: Phantom Stock — 34,930.54 contracts (Direct)

Footnotes (2)

1. F1. Each share of phantom stock is the economic equivalent of one share of common stock and becomes payable in cash following the reporting person's termination of service as an officer. The reporting person may transfer his phantom stock account into an alternative investment account at any time, subject to the terms of the PG&E Corporation 2005 Supplemental Retirement Savings Plan ("SRSP") and the PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan ("DC-ESRP").
2. F2. Phantom stock acquired upon (1) deferral of compensation under the SRSP and (2) credits awarded to the reporting person's account under the DC-ESRP, each exempt under Rule 16b-3(d).

Key Figures

Phantom Stock units granted: 420.710 units Transaction price per Phantom Stock unit: $17.60 per unit Total Phantom Stock holdings after transaction: 34,930.540 units +2 more

5 metrics

Phantom Stock units granted 420.710 units Grant/award on 2026-08-21 to EVP and Chief People Officer Alejandro T. Vallejo

Transaction price per Phantom Stock unit $17.60 per unit Recorded price for the 2026-08-21 Phantom Stock grant

Total Phantom Stock holdings after transaction 34,930.540 units Post-transaction phantom stock balance for Alejandro T. Vallejo

Underlying common stock equivalent 420.710 shares Each Phantom Stock unit is economically equivalent to one share of common stock

Form code A Grant, award, or other acquisition of derivative security

Key Terms

Phantom Stock, Rule 16b-3(d), Supplemental Retirement Savings Plan, Defined Contribution Executive Supplemental Retirement Plan

4 terms

Phantom Stock financial

"Each share of phantom stock is the economic equivalent of one share"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Rule 16b-3(d) regulatory

"credits awarded to the reporting person's account under the DC-ESRP, each exempt under Rule 16b-3(d)"

Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.

Supplemental Retirement Savings Plan financial

"subject to the terms of the PG&E Corporation 2005 Supplemental Retirement Savings Plan"

Defined Contribution Executive Supplemental Retirement Plan financial

"the PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan ("DC-ESRP")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did PG&E Corp (PCG) disclose for Alejandro T. Vallejo?

PG&E Corp disclosed that Alejandro T. Vallejo, EVP and Chief People Officer, received a grant of 420.710 Phantom Stock units on 2026-08-21, classified as a grant, award, or other acquisition under transaction code A.

How many phantom stock units does Alejandro T. Vallejo hold after this PG&E (PCG) transaction?

After the 2026-08-21 grant of 420.710 Phantom Stock units, Alejandro T. Vallejo holds a total of 34,930.540 Phantom Stock units, according to the reported post-transaction holdings figure.

What is Phantom Stock in the context of PG&E Corp (PCG)?

Each PG&E Corp Phantom Stock unit is the economic equivalent of one share of common stock and becomes payable in cash after the officer’s termination of service. The value tracks the common stock but does not represent actual share ownership.

How was the phantom stock award to Alejandro T. Vallejo at PG&E (PCG) priced?

The 420.710 Phantom Stock units awarded to Alejandro T. Vallejo were recorded at a transaction price of $17.60 per unit, with each unit economically equivalent to one share of PG&E Corp common stock.

Under which plans were Alejandro T. Vallejo’s PG&E (PCG) phantom stock units credited?

The filing states that the phantom stock was acquired upon (1) deferral of compensation under the SRSP and (2) credits awarded under the DC-ESRP, with both components treated as exempt under Rule 16b-3(d).

Can Alejandro T. Vallejo move his PG&E (PCG) phantom stock into other investments?

Yes. The officer may transfer his Phantom Stock account into an alternative investment account at any time, subject to the terms of PG&E Corporation’s 2005 SRSP and the DC-ESRP plans.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/24/2026 - 04:16 PM EDT Accepted by SEC EDGAR 08/24/2026 - 04:16 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Vallejo Alejandro T

(Last) (First) (Middle)

300 LAKESIDE DRIVE

(Street)

OAKLAND CALIFORNIA 94612

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PG&E Corp [ PCG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief People Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	08/21/2026		A		420.71(2)		(1)	(1)	Common Stock	420.71	$17.6	34,930.54	D

Explanation of Responses:

1. Each share of phantom stock is the economic equivalent of one share of common stock and becomes payable in cash following the reporting person's termination of service as an officer. The reporting person may transfer his phantom stock account into an alternative investment account at any time, subject to the terms of the PG&E Corporation 2005 Supplemental Retirement Savings Plan ("SRSP") and the PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan ("DC-ESRP").

2. Phantom stock acquired upon (1) deferral of compensation under the SRSP and (2) credits awarded to the reporting person's account under the DC-ESRP, each exempt under Rule 16b-3(d).

Remarks:

	/s/ Christine Zhang, Attorney-in-fact for Alejandro T. Vallejo (Signed Power of Attorney on file with SEC)	08/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)