PNC (PNC) director receives 844 Deferred Stock Units and reports phantom units
Filing Impact
Filing Sentiment
Form Type
4
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 equity-based compensation and deferred holdings. He received 844 Deferred Stock Units as a grant under PNC’s 2016 Incentive Award Plan, increasing his directly held deferred stock units to 9,691.
Each Deferred Stock Unit represents the right to receive at retirement one share of PNC common stock or, in limited cases, cash equal to the fair market value of one share. He also indirectly holds Phantom Stock Units in a Deferred Compensation Plan, which are economically equivalent to 2,181 shares of PNC common stock and are settled in cash upon distribution.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
HARSHMAN RICHARD J
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Deferred Stock Unit | 844 | $0.00 | -- |
| holding | Phantom Stock Unit | -- | -- | -- |
Holdings After Transaction:
Deferred Stock Unit — 9,691 shares (Direct, null);
Phantom Stock Unit — 2,181 shares (Indirect, Deferred Compensation Plan)
Footnotes (1)
- 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 The PNC Financial Services Group, Inc. ("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. One phantom stock unit is the economic equivalent of one share of PNC common stock. Phantom stock units will be settled in cash upon distribution to the reporting person and generally do not expire.
Key Figures
Deferred Stock Units granted: 844 units
Deferred Stock Units after grant: 9,691 units
Phantom Stock Units underlying shares: 2,181 units
+1 more
4 metrics
Deferred Stock Units granted
844 units
Grant of Deferred Stock Units on 2026-04-22
Deferred Stock Units after grant
9,691 units
Total Deferred Stock Units directly held after transaction
Phantom Stock Units underlying shares
2,181 units
Indirect Phantom Stock Units economically equivalent to PNC common shares
Conversion price for units
$0.0000 per unit
Stated conversion or exercise price for reported derivative units
Key Terms
Deferred Stock Unit, Phantom Stock Unit, Deferred Compensation Plan, Incentive Award Plan, +1 more
5 terms
Deferred Stock Unit financial
"Deferred Stock Unit ("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.
Phantom Stock Unit financial
"One phantom stock unit is the economic equivalent of one share of PNC common stock."
Deferred Compensation Plan financial
"nature_of_ownership: 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.
Incentive Award Plan financial
"under PNC's 2016 Incentive Award Plan."
An incentive award plan is a formal program that rewards employees, executives, or directors with cash, stock, options, or other pay when the company meets set goals or performance targets. Like a sales commission or a loyalty program that pays out when you hit milestones, it’s designed to align staff behavior with company objectives; investors care because it affects a company’s costs, share count (dilution), leadership incentives, and long-term value creation.
fair market value financial
"cash equal to the fair market value of one share of PNC common stock"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
FAQ
What did PNC (PNC) director Richard J. Harshman report in this Form 4?
Richard J. Harshman reported a grant of 844 Deferred Stock Units as equity-based compensation. These units increase his deferred exposure to PNC common stock and will generally be settled at retirement in shares or, in limited cases, cash.
How many Deferred Stock Units does Harshman hold after this PNC (PNC) transaction?
After receiving 844 Deferred Stock Units, Harshman holds 9,691 Deferred Stock Units directly. Each unit corresponds to one share of PNC common stock deliverable at retirement or, in certain cases, cash equal to that share’s fair market value.
What are Phantom Stock Units reported by Harshman at PNC (PNC)?
Harshman reported Phantom Stock Units held through a Deferred Compensation Plan, economically equivalent to 2,181 shares of PNC common stock. These units are settled in cash upon distribution and generally do not expire, providing cash-settled stock-based compensation exposure.
Is Harshman’s PNC (PNC) Form 4 transaction an open-market stock purchase or sale?
No, the Form 4 reflects a grant of 844 Deferred Stock Units and reported Phantom Stock Units, not open-market buying or selling. The activity represents compensation and deferred arrangements tied to PNC common stock rather than discretionary market trades.
How do Harshman’s Deferred Stock Units at PNC (PNC) convert into value?
Each Deferred Stock Unit gives Harshman the right at retirement to receive one share of PNC common stock, or in limited circumstances cash equal to one share’s fair market value, aligning his compensation with long-term shareholder interests.