PG&E Corp (NYSE: PCG) EVP receives phantom stock grant under plans
Rhea-AI Filing Summary
Vallejo Alejandro T reported acquisition or exercise transactions in this Form 4 filing.
PG&E Corp executive Alejandro T. Vallejo, EVP and Chief People Officer, received a grant of 439.96 units of phantom stock on April 23, 2026, tied economically to PG&E common stock at a reference price of $16.83 per unit.
Each phantom stock unit equals one share of common stock in value and will be paid in cash after his service as an officer ends, under the company’s SRSP and DC-ESRP executive retirement plans. Following this award and related plan activity, his phantom stock balance totals 33,100.04 units, including 93.64 units credited on April 15, 2026 through a dividend reinvestment feature.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Vallejo Alejandro T
Role
EVP, Chief People Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 439.96 | $16.83 | $7K |
Holdings After Transaction:
Phantom Stock — 33,100.04 shares (Direct)
Footnotes (3)
- 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").
- 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).
- F3. This total includes 93.64 units of phantom stock acquired on 4/15/2026 pursuant to a dividend reinvestment feature of the SRSP and the DC-ESRP.
Key Figures
Phantom stock grant: 439.96 units
Reference price per unit: $16.83 per unit
Total phantom stock holdings: 33,100.04 units
+3 more
6 metrics
Phantom stock grant
439.96 units
Award on April 23, 2026
Reference price per unit
$16.83 per unit
Phantom stock grant valuation
Total phantom stock holdings
33,100.04 units
Balance following reported transactions
Dividend reinvestment units
93.64 units
Credited on April 15, 2026 via dividend reinvestment
Conversion price
$0.00
Phantom stock economic equivalent of common stock
Derivative transactions
1 transaction
Derivative-type award reported in this Form 4
Key Terms
Phantom stock, PG&E Corporation 2005 Supplemental Retirement Savings Plan ("SRSP"), PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan ("DC-ESRP"), Rule 16b-3(d), +1 more
5 terms
Phantom stock financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
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.
PG&E Corporation 2005 Supplemental Retirement Savings Plan ("SRSP") financial
"subject to the terms of the PG&E Corporation 2005 Supplemental Retirement Savings Plan ("SRSP")"
PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan ("DC-ESRP") financial
"and the PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan ("DC-ESRP")"
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.
dividend reinvestment feature financial
"pursuant to a dividend reinvestment feature of the SRSP and the DC-ESRP."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did PG&E Corp EVP Alejandro Vallejo report in this Form 4 for PCG?
Alejandro T. Vallejo reported receiving 439.96 phantom stock units tied to PG&E Corp common stock. These units were awarded at a reference price of $16.83 per unit and increase his total phantom stock holdings to 33,100.04 units under company executive retirement plans.
What is phantom stock in the PG&E Corp (PCG) insider filing?
The phantom stock is economically equivalent to PG&E common stock, but paid in cash. Each unit tracks the value of one common share and becomes payable after the officer’s service ends, under the SRSP and DC-ESRP supplemental retirement plans described in the Form 4 footnotes.
How many phantom stock units does the PG&E EVP hold after this transaction?
After this transaction, the EVP’s phantom stock balance is 33,100.04 units. This total includes the 439.96 units granted on April 23, 2026 plus 93.64 units acquired on April 15, 2026 via a dividend reinvestment feature within the company’s executive retirement plans.
How were some of the PG&E Corp phantom stock units acquired on April 15, 2026?
On April 15, 2026, 93.64 phantom stock units were credited through a dividend reinvestment feature of the SRSP and DC-ESRP plans. Instead of receiving cash dividends, amounts were reinvested as additional phantom units, increasing the executive’s deferred compensation account balance.