PG&E director awarded 10,948 restricted stock units

Smith William Lloyd reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Smith William Lloyd reported acquisition or exercise transactions in this Form 4 filing.

PG&E Corp director William Lloyd Smith received an award of 10,948 Restricted Stock Units (RSUs), payable in common stock, as part of the PG&E Corporation 2021 Long Term Incentive Plan. After this grant, he holds 253,410 shares directly. The RSUs vest upon the earliest of one year from grant, the last day of his elected term, certain termination events, or specified change in control events. His total reflects additional fractional RSUs credited through the plan’s dividend reinvestment feature.

Insider Trade Summary

Grant/Award: 10,948 shares

Grant/Award 1 txn

Insider Smith William Lloyd

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	10,948	$0.00	$0.00

Holdings After Transaction: Common Stock — 253,410 shares (Direct)

Footnotes (2)

1. F1. Restricted Stock Units (RSUs) granted under the PG&E Corporation 2021 Long Term Incentive Plan (LTIP). RSUs are payable in shares of PG&E Corporation common stock on a one-for-one basis. As described in the LTIP, RSUs vest upon the earliest of one year from the date of grant; the last day of a director's elected term; a director's death, disability, or termination following a change in control; or a change in control in which the acquiror does not assume, continue, or substitute the award.
2. F2. This total reflects the acquisition of 20.34 RSUs on 7/15/2025, 15.88 RSUs on 10/15/2025, 33.62 RSUs on 1/15/2026, and 30.61 RSUs on 4/15/2026 pursuant to a dividend reinvestment feature of the PG&E Corporation 2021 LTIP.

Key Figures

RSUs granted: 10,948 shares Grant price: $0.00 per share Shares after transaction: 253,410 shares +4 more

7 metrics

RSUs granted 10,948 shares Restricted Stock Units awarded on 2026-05-21

Grant price $0.00 per share Reported transaction price for RSU award

Shares after transaction 253,410 shares Total common stock held directly following award

Dividend RSUs 07/15/2025 20.34 RSUs Credited via dividend reinvestment feature

Dividend RSUs 10/15/2025 15.88 RSUs Credited via dividend reinvestment feature

Dividend RSUs 01/15/2026 33.62 RSUs Credited via dividend reinvestment feature

Dividend RSUs 04/15/2026 30.61 RSUs Credited via dividend reinvestment feature

Key Terms

Restricted Stock Units (RSUs), PG&E Corporation 2021 Long Term Incentive Plan (LTIP), change in control, dividend reinvestment feature

4 terms

Restricted Stock Units (RSUs) financial

"Restricted Stock Units (RSUs) granted under the PG&E Corporation 2021 Long Term Incentive Plan (LTIP)."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

PG&E Corporation 2021 Long Term Incentive Plan (LTIP) financial

"RSUs granted under the PG&E Corporation 2021 Long Term Incentive Plan (LTIP)."

change in control financial

"vest upon ... termination following a change in control; or a change in control in which the acquiror does not assume..."

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

dividend reinvestment feature financial

"pursuant to a dividend reinvestment feature of the PG&E Corporation 2021 LTIP."

FAQ

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

What did PG&E Corp (PCG) director William Lloyd Smith report in this Form 4?

Director William Lloyd Smith reported an award of 10,948 Restricted Stock Units (RSUs), payable in PG&E Corporation common stock. This is a compensation-related acquisition under the 2021 Long Term Incentive Plan, not an open-market stock purchase or sale.

How many PG&E Corp (PCG) shares does William Lloyd Smith hold after this transaction?

After the RSU award, William Lloyd Smith is shown holding 253,410 shares of PG&E Corporation common stock directly. This total includes shares associated with RSUs and reflects prior small RSU credits from the plan’s dividend reinvestment feature.

At what price were the 10,948 RSUs for PG&E Corp (PCG) granted?

The 10,948 Restricted Stock Units were granted at a reported price of $0.00 per unit. This indicates they were awarded as part of director compensation rather than purchased on the open market for cash consideration.

When do William Lloyd Smith’s PG&E Corp (PCG) RSUs vest?

The RSUs vest upon the earliest of one year from the grant date, the last day of the director’s elected term, the director’s death or disability, termination following a change in control, or a change in control where the award is not assumed, continued, or substituted.

What is the PG&E Corp (PCG) 2021 Long Term Incentive Plan mentioned in the filing?

The 2021 Long Term Incentive Plan is PG&E Corporation’s equity compensation program. Under it, directors receive RSUs that convert one-for-one into common shares at vesting and can accrue additional fractional RSUs through a dividend reinvestment feature.

How were additional RSUs credited to William Lloyd Smith under PG&E Corp (PCG)’s plan?

The filing notes that 20.34, 15.88, 33.62, and 30.61 RSUs were acquired on specific 2025 and 2026 dates. These small increments came from a dividend reinvestment feature of the 2021 Long Term Incentive Plan, increasing his overall RSU-based holdings.

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

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Accepted by SEC EDGAR 05/26/2026 - 04:31 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
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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^*

Smith William Lloyd

(Last) (First) (Middle)

PG&E CORPORATION

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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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
Common Stock	05/21/2026		A		10,948(1)	A	$0	253,410(2)	D

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

Explanation of Responses:

1. Restricted Stock Units (RSUs) granted under the PG&E Corporation 2021 Long Term Incentive Plan (LTIP). RSUs are payable in shares of PG&E Corporation common stock on a one-for-one basis. As described in the LTIP, RSUs vest upon the earliest of one year from the date of grant; the last day of a director's elected term; a director's death, disability, or termination following a change in control; or a change in control in which the acquiror does not assume, continue, or substitute the award.

2. This total reflects the acquisition of 20.34 RSUs on 7/15/2025, 15.88 RSUs on 10/15/2025, 33.62 RSUs on 1/15/2026, and 30.61 RSUs on 4/15/2026 pursuant to a dividend reinvestment feature of the PG&E Corporation 2021 LTIP.

Remarks:

	/s/ Koyo Konishi, attorney-in-fact for William L. Smith (Signed Power of Attorney on file with SEC)	05/26/2026
	** 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)