PNC insider filing shows 73 phantom units purchased at $198.44
Rhea-AI Filing Summary
Daniel Hesse, a director of PNC Financial Services Group (PNC), reported transactions on Form 4 showing an acquisition of 73 phantom stock units on 10/01/2025 at a reported price of $198.44 per underlying share equivalent. After that transaction the filing lists 4,653 phantom stock units beneficially owned in connection with the PNC Deferred Compensation Plan. The filing also discloses 2,081 phantom stock units under the Outside Directors Deferred Stock Unit Plan and 11,536 deferred stock units granted under the Directors Deferred Stock Unit Program, including dividend-equivalent additions described in the explanations.
Positive
- Reported acquisition of 73 phantom stock units on 10/01/2025 at $198.44
- Reporting person holds 4,653 phantom stock units following the reported transaction
- Additional deferred holdings: 2,081 phantom units (Outside Directors Plan) and 11,536 DSUs (Directors Deferred Stock Unit Program)
- Explanations confirm dividend equivalents were added to deferred holdings in transactions exempt from reporting
Negative
- None.
Insights
Director received deferred/share-equivalent awards; small current acquisition noted.
The filing documents an acquisition of 73 phantom stock units on 10/01/2025 at a reported per-share equivalent of $198.44, increasing the reporting person's holdings in PNC-linked deferred compensation vehicles to 4,653 phantom units.
These instruments are settlement-rights that are generally paid in cash at distribution and track the economic value of PNC common stock; the filing also shows 2,081 phantom units and 11,536 deferred stock units held under director and outside-director plans, including dividend-equivalent accruals.
Director compensation is delivered largely via deferred/phantom equity, aligning pay with shareholder value.
The disclosure shows director compensation and dividend equivalents are being accumulated as phantom stock units and deferred stock units, rather than immediate stock transfers. This preserves alignment with stock performance while delaying actual settlement.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 73 | $198.44 | $14K |
| holding | Phantom Stock Unit | -- | -- | -- |
| holding | Deferred Stock Unit | -- | -- | -- |
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.
