PPL (NYSE: PPL) CFO receives new stock and performance unit awards

Rhea-AI Filing Summary

PPL Corp EVP and CFO Joseph P. Bergstein Jr. reported multiple equity award events tied to the company’s Stock Incentive Plan. On 01/29/2026 and 01/30/2026, performance and restricted stock units were converted into common shares at prices around $36.31 and $36.25, with some shares withheld to cover taxes.

He also received 11,123 restricted stock units that vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029, plus several new performance stock unit grants linked to relative performance, earnings growth, and sustainability metrics over a three-year period ending 12/31/2028. As of 02/02/2026, he beneficially owned 33,152.191 restricted stock units and 162,046.725 performance units, alongside over 200,000 directly held common shares and additional indirect holdings in employee and dividend plans.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Bergstein Joseph P Jr

(Last) (First) (Middle)

645 HAMILTON STREET

(Street)

ALLENTOWN PA 18101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PPL Corp [ PPL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and CFO

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/29/2026		M		20,293	A	$36.31	182,070.549(1)	D
Common Stock	01/29/2026		F(2)		6,879	D	$36.31	175,191.549(1)	D
Common Stock	01/29/2026		M		44,910	A	$36.31	220,101.549(1)	D
Common Stock	01/29/2026		F(2)		19,658	D	$36.31	200,443.549(1)	D
Common Stock	01/30/2026		M		3,875.024	A	$36.25	204,318.573(1)	D
Common Stock	01/30/2026		F(2)		1,697	D	$36.25	202,621.573(1)	D
Common Stock								395.195(1)	I	Held in trust pursuant to the Employee Stock Ownership Plan.
Common Stock								62.527(1)	I	As custodian for children under the Dividend Reinvestment Plan.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Unit (SIP)	(3)	01/29/2026		A		11,123		(4)	(4)	Common Stock	11,123	$0	11,123(5)	D
Performance Stock Unit (SIP)	(6)	01/29/2026		A		22,245		(6)	(6)	Common Stock	22,245	$0	22,245(7)	D
Performance Stock Unit (SIP)	(8)	01/29/2026		A		11,123		(8)	(8)	Common Stock	11,123	$0	11,123(7)	D
Performance Stock Unit (SIP)	(9)	01/29/2026		A		11,123		(9)	(9)	Common Stock	11,123	$0	11,123(7)	D
Performance Stock Unit (SIP)	(10)	01/29/2026		M			44,910(1)	(10)	(10)	Common Stock	44,910(1)	$0	0(7)	D
Performance Stock Unit (SIP)	(11)	01/29/2026		M			20,293(1)	(11)	(11)	Common Stock	20,293(1)	$0	0(7)	D
Stock Unit (SIP)	(3)	01/30/2026		M			3,875.024(1)	(12)	(12)	Common Stock	3,875.024(1)	$0.00	7,751.077(1)	D

Explanation of Responses:

1. Total includes the reinvestment of dividends.

2. Shares withheld by the company at the request of the executive officer to pay taxes due following expiration of the applicable restriction period, under the terms of the Stock Incentive Plan (SIP).

3. No conversion or exercise price applies. Under the terms of the Stock Incentive Plan (SIP), a restricted stock unit converts to a share of common stock on the applicable vesting date.

4. The total grant of 11,123 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029.

5. As of 02/02/2026, total restricted stock units beneficially owned is 33,152.191. This total includes the 01/25/2024 grant of 14,278.114 restricted stock units, two-thirds of the 01/30/2025 grant, which totals 7,751.077, plus in each case, the incremental addition of restricted stock units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such restricted stock units, and the 01/29/2026 grant of 11,123 restricted stock units.

6. No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's performance relative to a peer group (determined by the Company's People and Compensation Committee as described in more detail in the Company's annual Proxy Statement on Schedule 14A), over a three-year performance period ending 12/31/2028. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2029.

7. As of 02/02/2026, total performance units beneficially owned is 162,046.725. This total includes the 01/20/2023 grant of 13,938.871 performance units, the three 01/25/2024 grants of (a) 14,278.114, (b) 14,278.114, and (c) 28,556.224 performance units, the three 01/30/2025 grants of (a) 11,626.101, (b) 11,626.101, and (c) 23,252.2 performance units, plus in each case, the incremental addition of performance units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such performance units, and the three 01/29/2026 grants of (a) 11,123, (b) 11,123, and (c) 22,245 performance units.

8. No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's earnings growth over a three-year performance period ending 12/31/2028. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2029.

9. No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's achievement of certain long-term sustainability-related metrics over a three-year performance period ending 12/31/2028. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2029.

10. No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), the underlying securities were earned (161.10%) based on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2025. Determination of the percentage of the award earned was made by the People and Compensation Committee on 01/29/2026 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/30/2026.

11. No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), the underlying securities were earned (145.58%) based on the Company's achievements of certain ESG-related metrics over a three-year performance period ending 12/31/2025. Determination of the percentage of the award earned was made by the People and Compensation Committee on 01/29/2026 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/30/2026.

12. One-third of the 01/30/2025 grant of restricted stock units vested on 01/30/2026; the remaining thirds will vest on 01/30/2027 and 01/30/2028, respectively.

	/s/ W. Eric Marr, as Attorney-In-Fact for Joseph P. Bergstein, Jr.	02/02/2026
	** Signature of Reporting Person	Date
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FAQ

What did PPL (PPL) CFO Joseph Bergstein report in this Form 4?

PPL’s EVP and CFO Joseph P. Bergstein Jr. reported equity award activity, including unit-to-share conversions and new grants under the Stock Incentive Plan, rather than open-market stock sales. The filing details vesting events, tax withholdings, and updated direct and indirect share ownership levels.

How many restricted stock units does PPL’s CFO now beneficially own?

As of 02/02/2026, PPL’s CFO beneficially owns 33,152.191 restricted stock units. This reflects earlier grants, dividend-equivalent credits added over time, and the new 01/29/2026 grant of 11,123 restricted stock units disclosed in the compensation-related footnotes.

What performance stock unit awards did the PPL (PPL) CFO receive?

On 01/29/2026, the CFO received several new performance stock unit awards, including a grant of 22,245 units and multiple grants of 11,123 units. These are tied to relative performance, earnings growth, and sustainability metrics over a three-year period ending 12/31/2028.

When will the new PPL restricted stock units granted to the CFO vest?

The total grant of 11,123 restricted stock units to PPL’s CFO will vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029. Vesting converts each unit into one share of common stock under the Stock Incentive Plan terms.

How many performance units does PPL’s CFO hold after these transactions?

As of 02/02/2026, PPL’s CFO beneficially owns 162,046.725 performance units. This total combines multiple grants from 2023, 2024, 2025, and 2026, plus additional units credited as dividend equivalents on the underlying performance awards over time.

Were any PPL shares sold by the CFO in the open market?

The Form 4 shows shares withheld to pay taxes (coded “F”) and conversions of stock and performance units into common stock (coded “M”). It does not report open-market sales; activity reflects equity award vesting, tax withholding, and updated share ownership positions.