PNC director awarded 91 phantom stock units
HARSHMAN RICHARD J reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
HARSHMAN RICHARD J reported acquisition or exercise transactions in this Form 4 filing.
PNC Financial Services Group director Richard J. Harshman reported routine compensation-related equity units. He received a grant of 91 phantom stock units on common stock at a reference price of $251.62 per unit under a Deferred Compensation Plan, bringing his indirect phantom stock balance to 2,288 units. Each phantom unit is economically equivalent to one PNC common share but will be settled in cash at distribution.
Harshman also holds 9,755 deferred stock units directly, each representing the right to receive one share of PNC common stock at retirement or, in limited circumstances, cash equal to the share’s fair market value, under the Directors Deferred Stock Unit Program. The filing notes both phantom and deferred stock units include additional units credited as dividend equivalents since his prior Form 4.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 91 shares
Grant/Award
2 txns
Insider
HARSHMAN RICHARD J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 91 | $251.62 | $23K |
| holding | Deferred Stock Unit | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Unit — 2,288 contracts (Indirect, Deferred Compensation Plan);
Deferred Stock Unit — 9,755 contracts (Direct)
Footnotes (4)
- F1. 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.
- F2. 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.
- F3. Deferred stock units ("DSUs") granted pursuant to the PNC Directors Deferred Stock Unit Program (the "Program") under PNC's equity incentive 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.
- F4. 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 stock grant: 91 units
Phantom unit reference price: $251.62 per unit
Phantom units after grant: 2,288 units
+3 more
6 metrics
Phantom stock grant
91 units
Grant of phantom stock units on PNC common stock
Phantom unit reference price
<money>$251.62</money> per unit
Price per phantom stock unit on grant date
Phantom units after grant
2,288 units
Total phantom stock units held indirectly after transaction
Deferred stock units
9,755 units
Deferred stock units representing rights to PNC common shares
Deferred stock underlying shares
9,755 shares
Underlying PNC common stock for deferred stock units
Phantom unit equivalence
1 unit = 1 share
Each phantom stock unit equals one PNC common share economically
Key Terms
Phantom Stock Unit, Deferred Stock Unit, Deferred Compensation Plan, Directors Deferred Stock Unit Program, +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 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.
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.
Directors Deferred Stock Unit Program financial
"granted pursuant to the PNC Directors Deferred Stock Unit Program (the "Program") under PNC's equity incentive plan"
dividend equivalents financial
"Includes DSUs acquired by the reporting person as dividend equivalents under the Program"
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 insider transactions did PNC (PNC) director Richard J. Harshman report?
Richard J. Harshman reported a grant of 91 phantom stock units tied to PNC common stock and updated balances in deferred and phantom stock units. These awards are part of compensation and do not represent open-market share purchases or sales.
What are the phantom stock units reported by PNC (PNC) director Harshman?
The phantom stock units are bookkeeping units economically equivalent to one PNC common share each. They will be settled in cash upon distribution under a Deferred Compensation Plan and generally do not expire, tracking the value of PNC common stock over time.
How many phantom stock units does PNC (PNC) director Harshman hold after this filing?
After receiving 91 new phantom stock units, Harshman holds 2,288 phantom stock units indirectly through a Deferred Compensation Plan. This total includes units credited as dividend equivalents that were added since his previous Form 4 filing.
What deferred stock units does PNC (PNC) director Harshman own?
Harshman holds 9,755 deferred stock units granted under PNC’s Directors Deferred Stock Unit Program. Each deferred stock unit entitles him, at retirement, to receive one PNC common share or, in limited cases, cash equal to that share’s fair market value.
Do the reported PNC (PNC) units give Harshman immediate common stock?
The reported units do not deliver immediate common shares. Phantom stock units will be settled in cash at distribution, while deferred stock units convert into PNC common stock at retirement or, in limited situations, into an equivalent cash amount per the program terms.
Are dividend equivalents included in Harshman’s reported PNC (PNC) units?
Yes. Both the phantom stock unit and deferred stock unit totals include additional units credited as dividend equivalents. These arise from dividends on PNC common stock and were added in exempt transactions occurring after Harshman’s most recent prior Form 4 filing.
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