PNC (PNC) director Feldstein adds 392 phantom stock units in compensation grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Feldstein Andrew T reported acquisition or exercise transactions in this Form 4 filing.
PNC Financial Services Group director Andrew T. Feldstein reported a compensation-related grant of phantom stock units tied to PNC common stock. He received 392 phantom stock units under a Deferred Compensation Plan at a reference price of $251.62 per unit, increasing his indirect holdings in that plan to 21,216 units.
He also reports 12,648 deferred stock units held directly and 6,466 phantom stock units held indirectly under a separate deferred stock unit plan. According to the plan descriptions, phantom stock units are economically equivalent to PNC common shares and are settled in cash, while deferred stock units are generally settled in PNC common stock at retirement.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Feldstein Andrew T
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 392 | $251.62 | $99K |
| holding | Phantom Stock Unit | -- | -- | -- |
| holding | Deferred Stock Unit | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Unit — 21,216 shares (Indirect, Deferred Compensation Plan);
Deferred Stock Unit — 12,648 shares (Direct, null)
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 for these securities. 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 for these securities. 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. 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 for these securities.
Key Figures
Phantom units granted: 392 phantom stock units
Reference price per unit: $251.62 per unit
Phantom units after grant (comp plan): 21,216 phantom stock units
+2 more
5 metrics
Phantom units granted
392 phantom stock units
Grant under Deferred Compensation Plan on 2026-07-01
Reference price per unit
$251.62 per unit
Phantom stock unit grant under Deferred Compensation Plan
Phantom units after grant (comp plan)
21,216 phantom stock units
Indirect holdings in Deferred Compensation Plan following transaction
Deferred stock units direct
12,648 deferred stock units
Direct holdings linked to PNC common stock
Phantom units other plan
6,466 phantom stock units
Indirect holdings in Outside Directors Deferred Stock Unit Plan
Key Terms
Phantom stock unit, Deferred Compensation Plan, Deferred stock units ("DSUs"), Dividend equivalents, +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 units ("DSUs") financial
"Deferred stock units ("DSUs") granted pursuant to the PNC Directors Deferred Stock Unit Program"
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.
Equity incentive plan financial
"granted pursuant to the PNC Directors Deferred Stock Unit Program (the "Program") under PNC's equity incentive plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
FAQ
What did PNC (PNC) director Andrew T. Feldstein report in this Form 4?
Andrew T. Feldstein reported a grant of phantom stock units as compensation. He acquired 392 phantom stock units under a Deferred Compensation Plan, bringing his indirect holdings in that plan to 21,216 units, plus existing deferred stock and phantom units in other director plans.
How many phantom stock units did Feldstein receive and at what reference price?
Feldstein received 392 phantom stock units at a reference price of $251.62 each. These units are economically equivalent to PNC common stock and are credited in a Deferred Compensation Plan, where they will ultimately be settled in cash according to plan terms.
What are Feldstein’s total phantom stock unit holdings reported for PNC (PNC)?
Feldstein reports two separate phantom stock unit balances. He holds 21,216 phantom stock units indirectly under a Deferred Compensation Plan and 6,466 phantom stock units indirectly under an Outside Directors Deferred Stock Unit Plan, all economically linked to PNC common stock performance.
How many deferred stock units tied to PNC common stock does Feldstein hold directly?
Feldstein holds 12,648 deferred stock units directly. Each deferred stock unit generally represents the right to receive one share of PNC common stock at retirement or, in limited cases, an equivalent cash amount, under PNC’s directors deferred stock unit program.
Do Feldstein’s phantom stock units in PNC (PNC) ever expire?
The phantom stock units generally do not expire under the described plan terms. Footnotes state phantom stock units are the economic equivalent of PNC common stock and will be settled in cash upon distribution to Feldstein, typically without a stated expiration date.
How are dividend equivalents handled on Feldstein’s PNC deferred and phantom stock units?
Dividend equivalents are credited as additional phantom or deferred stock units. Footnotes explain that his balances include units acquired as dividend equivalents under PNC’s Deferred Compensation Plan and Outside Directors Deferred Stock Unit Plan in transactions exempt from separate reporting.