PG&E Corp awards phantom stock to EVP Vallejo

PG&E Corp executive Alejandro T. Vallejo, EVP and Chief People Officer, reported a grant of 422.15 units of Phantom Stock, economically equivalent to the same number of common shares at a reference value of $17.54 per unit.

Rhea-AI Filing Summary

PG&E Corp executive Alejandro T. Vallejo, EVP and Chief People Officer, reported a grant of 422.15 units of Phantom Stock, economically equivalent to the same number of common shares at a reference value of $17.54 per unit. The award reflects deferred compensation and credits under PG&E’s SRSP and DC-ESRP plans and is payable in cash after his officer service ends. Following this grant, his phantom stock balance totals 34,509.82 units, including 97.06 units acquired on July 15, 2026 via a dividend reinvestment feature.

Insider Trade Summary

Grant/Award: 422.15 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, F3	422.15	$17.54	$7K

Holdings After Transaction: Phantom Stock — 34,509.82 contracts (Direct)

Footnotes (3)

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).
3. F3. This total includes 97.06 units of phantom stock acquired on 7/15/2026 pursuant to a dividend reinvestment feature of the SRSP and the DC-ESRP.

Key Figures

Phantom stock units granted: 422.15 units Reference value per phantom unit: $17.54 Total phantom stock holdings: 34,509.82 units +2 more

5 metrics

Phantom stock units granted 422.15 units Grant/award acquisition on 07/23/2026

Reference value per phantom unit $17.54 Economic equivalent value per unit on 07/23/2026

Total phantom stock holdings 34,509.82 units Balance following the 07/23/2026 grant

Dividend reinvestment units 97.06 units Phantom stock acquired on 07/15/2026 via dividend reinvestment

Underlying common stock equivalence 1 unit = 1 share Each phantom stock unit equals one share of common stock economically

Key Terms

Phantom Stock, dividend reinvestment feature, Rule 16b-3(d), Supplemental Retirement Savings Plan, +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.

dividend reinvestment feature financial

"97.06 units of phantom stock acquired on 7/15/2026 pursuant to a dividend reinvestment feature"

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 ("SRSP")"

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) report for Alejandro T. Vallejo?

PG&E Corp reported that EVP and Chief People Officer Alejandro T. Vallejo received a grant of 422.15 units of Phantom Stock on July 23, 2026. These units are tied to deferred compensation and plan credits and are economically equivalent to common shares.

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

After the reported grant, Alejandro T. Vallejo holds a total of 34,509.82 units of Phantom Stock. This amount includes 97.06 units that were added on July 15, 2026 through a dividend reinvestment feature in PG&E’s executive retirement plans.

What is the economic value reference for the phantom stock granted to the PG&E Corp (PCG) executive?

Each phantom stock unit granted to the PG&E Corp executive is economically equivalent to one share of common stock, with the July 23, 2026 grant valued at $17.54 per unit. The value tracks the common stock price for compensation purposes.

When and how is PG&E Corp (PCG) phantom stock payable to Alejandro T. Vallejo?

The phantom stock units are payable in cash following Alejandro T. Vallejo’s termination of service as an officer. Until then, the units remain in his deferred compensation accounts and track the value of PG&E common stock under plan terms.

What plans govern the phantom stock reported for the PG&E Corp (PCG) executive?

The phantom stock units are held under PG&E’s 2005 Supplemental Retirement Savings Plan (SRSP) and the Defined Contribution Executive Supplemental Retirement Plan (DC-ESRP). Units arise from deferred compensation and plan credits, with a dividend reinvestment feature.

How were some of the PG&E Corp (PCG) phantom stock units acquired through dividend reinvestment?

The total phantom stock balance includes 97.06 units acquired on July 15, 2026 through a dividend reinvestment feature of the SRSP and DC-ESRP, which credits additional phantom units when dividends are paid.

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

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Available on EDGAR 07/27/2026 - 04:18 PM Accepted by SEC EDGAR 07/27/2026 - 04:17 PM 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)
07/23/2026

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)	07/23/2026		A		422.15(2)		(1)	(1)	Common Stock	422.15	$17.54	34,509.82(3)	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).

3. This total includes 97.06 units of phantom stock acquired on 7/15/2026 pursuant to a dividend reinvestment feature of the SRSP and the DC-ESRP.

Remarks:

	/s/ Koyo Konishi, attorney-in-fact for Alejandro T. Vallejo (Signed Power of Attorney on file with SEC)	07/27/2026
	** 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)