PNC (PNC) director Daniel Hesse granted phantom and deferred stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HESSE DANIEL reported acquisition or exercise transactions in this Form 4 filing.
PNC Financial Services Group director Daniel Hesse reported a routine compensation-related award of derivative units tied to PNC common stock. On April 1, 2026, he received 69 phantom stock units, each economically equivalent to one share of PNC common stock, at a reference value of $209.24 per unit under a deferred compensation plan.
After this grant, Hesse holds 4,868 phantom stock units in the PNC Deferred Compensation Plan and 2,116 phantom stock units in the Outside Directors Deferred Stock Unit Plan, both settled in cash. He also directly holds 11,718 deferred stock units under PNC's Directors Deferred Stock Unit Program, which generally provide one share of PNC common stock (or equivalent cash) at retirement. No open-market purchases or sales of PNC common stock were reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
HESSE DANIEL
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 69 | $209.24 | $14K |
| holding | Phantom Stock Unit | -- | -- | -- |
| holding | Deferred Stock Unit | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Unit — 4,868 shares (Indirect, Deferred Compensation Plan);
Deferred Stock Unit — 11,718 shares (Direct)
Footnotes (1)
- One phantom stock unit is the economic equivalent of one share of The PNC Financial Services Group, Inc. ("PNC") common stock. Phantom stock units will be settled in cash upon distribution to the reporting person and generally do not expire. Includes phantom stock units acquired by the reporting person as dividend equivalents under the PNC Deferred Compensation Plan in transactions exempt from reporting that occurred after the date of the reporting person's most recent filing on Form 4. Includes phantom stock units acquired by the reporting person as dividend equivalents under the PNC Outside Directors Deferred Stock Unit Plan in transactions exempt from reporting that occurred after the date of the reporting person's most recent filing on Form 4. Deferred stock units ("DSUs") granted pursuant to the PNC Directors Deferred Stock Unit Program (the "Program") under PNC's 2016 Incentive Award Plan. Each DSU represents the right to receive at retirement one share of PNC common stock, or in limited circumstances cash equal to the fair market value of one share of PNC common stock on the payment determination date, pursuant to the terms of the Program. Includes DSUs acquired by the reporting person as dividend equivalents under the Program in transactions exempt from reporting that occurred after the date of the reporting person's most recent filing on Form 4.
Key Figures
Phantom units granted: 69 phantom stock units
Reference unit value: $209.24 per unit
Phantom units balance: 4,868 phantom stock units
+2 more
5 metrics
Phantom units granted
69 phantom stock units
Grant on April 1, 2026 under Deferred Compensation Plan
Reference unit value
$209.24 per unit
Economic equivalent of one share of PNC common stock
Phantom units balance
4,868 phantom stock units
Total in PNC Deferred Compensation Plan after grant
Outside directors phantom units
2,116 phantom stock units
Under Outside Directors Deferred Stock Unit Plan
Deferred stock units
11,718 DSUs
Direct holdings under Directors Deferred Stock Unit Program
Key Terms
Phantom stock unit, Deferred Compensation Plan, Deferred Stock Unit, 2016 Incentive Award Plan, +1 more
5 terms
Phantom stock unit financial
"One phantom stock unit is the economic equivalent of one share of The PNC Financial Services Group, Inc."
Deferred Compensation Plan financial
"Includes phantom stock units acquired by the reporting person as dividend equivalents under the PNC Deferred Compensation Plan"
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
Deferred Stock Unit financial
"Deferred stock units ("DSUs") granted pursuant to the PNC Directors Deferred Stock Unit Program"
A deferred stock unit (DSU) is a promise from a company to give an employee or director the value of a share at a future date, paid in actual shares or cash when certain conditions are met (such as retirement or a set date). Think of it like a gift card that converts to company stock later; it aligns pay with long‑term performance and can affect future share count, compensation expense and potential cash needs, so investors watch DSUs for their impact on dilution and company finances.
2016 Incentive Award Plan financial
"Program under PNC's 2016 Incentive Award Plan. Each DSU represents the right to receive at retirement"
Dividend equivalents financial
"Includes phantom stock units acquired by the reporting person as dividend equivalents under the PNC Deferred Compensation Plan"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
FAQ
What did PNC (PNC) director Daniel Hesse report in this Form 4?
Daniel Hesse reported a grant of phantom stock units and updated his deferred holdings. He received 69 phantom stock units on April 1, 2026, and disclosed total phantom and deferred stock unit balances held through PNC’s director compensation and deferred compensation programs.
How many phantom stock units did Daniel Hesse receive from PNC (PNC)?
Daniel Hesse received 69 phantom stock units tied to PNC common stock. Each phantom unit is economically equivalent to one share of PNC stock and will be settled in cash under the PNC Deferred Compensation Plan, rather than through delivery of actual PNC shares.
What are Daniel Hesse’s total phantom stock unit holdings in PNC (PNC) plans?
Hesse holds 4,868 phantom stock units in the Deferred Compensation Plan and 2,116 in the Outside Directors plan. These units mirror PNC common stock value and include additional units received as dividend equivalents after prior Form 4 filings.
What deferred stock units does Daniel Hesse hold directly at PNC (PNC)?
Hesse directly holds 11,718 deferred stock units under PNC’s Directors Deferred Stock Unit Program. Each DSU generally entitles him to one share of PNC common stock, or equivalent cash in limited circumstances, payable at retirement in line with program terms.
Did Daniel Hesse buy or sell PNC (PNC) common stock on the market?
No open-market purchases or sales of PNC common stock were reported. The filing reflects a compensation-related grant of phantom stock units and updated balances of phantom and deferred stock units, which are derivative, deferred forms of equity-based compensation.
How are PNC (PNC) phantom stock units and DSUs settled for Daniel Hesse?
Phantom stock units are settled in cash, while DSUs generally settle in stock. Phantom units pay cash equal to PNC share value upon distribution, and DSUs typically deliver one PNC share at retirement, with some flexibility for cash in limited circumstances.