[Form 4] PPL Corp Insider Trading Activity

Rhea-AI Filing Summary

PPL Corp executive Christine M. Martin, President of a PPL subsidiary, reported multiple equity compensation transactions on 01/29/2026 and 01/30/2026. Performance stock units and restricted stock units under the Stock Incentive Plan converted into common shares, with some shares withheld to cover taxes at prices of $36.31 and $36.25 per share.

New awards included 2,063 and 11,017 restricted stock units and several performance stock unit grants that may be earned over three-year performance periods ending 12/31/2028. As of 02/02/2026, Martin beneficially owned 18,380.046 restricted stock units and 29,345.116 performance units, plus 44,594.677 shares of common stock directly and 245.084 shares indirectly through an employee stock ownership plan trust.

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^*

Martin Christine M

(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)
	President of a PPL Subsidiary

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		2,876	A	$36.31	40,492.782(1)	D
Common Stock	01/29/2026		F(2)		943	D	$36.31	39,549.782(1)	D
Common Stock	01/29/2026		M		6,365	A	$36.31	45,914.782(1)	D
Common Stock	01/29/2026		F(2)		1,814	D	$36.31	44,100.782(1)	D
Common Stock	01/30/2026		M		691.895	A	$36.25	44,792.677(1)	D
Common Stock	01/30/2026		F(2)		198	D	$36.25	44,594.677(1)	D
Common Stock								245.084(1)	I	Held in trust pursuant to the Employee Stock Ownership 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		2,063		(4)	(4)	Common Stock	2,063	$0	2,063(5)	D
Stock Unit (SIP)	(3)	01/29/2026		A		11,017		(6)	(6)	Common Stock	11,017	$0	11,017(5)	D
Performance Stock Unit (SIP)	(7)	01/29/2026		A		4,126		(7)	(7)	Common Stock	4,126	$0	4,126(8)	D
Performance Stock Unit (SIP)	(9)	01/29/2026		A		2,063		(9)	(9)	Common Stock	2,063	$0	2,063(8)	D
Performance Stock Unit (SIP)	(10)	01/29/2026		A		2,063		(10)	(10)	Common Stock	2,063	$0	2,063(8)	D
Performance Stock Unit (SIP)	(11)	01/29/2026		M			6,365(1)	(11)	(11)	Common Stock	6,365(1)	$0	0(8)	D
Performance Stock Unit (SIP)	(12)	01/29/2026		M			2,876(1)	(12)	(12)	Common Stock	2,876(1)	$0	0(8)	D
Stock Unit (SIP)	(3)	01/30/2026		M			691.895(1)	(13)	(13)	Common Stock	691.895(1)	$0.00	1,384.821(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 2,063 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 18,380.046. This total includes the 09/01/2023 grant of 1,212 restricted stock units, the 01/25/2024 grant of 2,703.225 restricted stock units, two-thirds of the 1/30/2025 grant, which totals 1,384.821, 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 two 01/29/2026 grants of (a) 2,063 and (b) 11,017 restricted stock units.

6. The total grant of 11,017 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028 amd 01/29/2029.

7. 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.

8. As of 02/02/2026, total performance units beneficially owned is 29,345.116. This total includes the 01/20/2023 grant of 1,975.449 performance units, the three 01/25/2024 grants of (a) 2,703.225, (b) 2,703.225, and (c) 5,405.385 performance units, the three 01/30/2025 grants of (a) 2,076.716, (b) 2,076.716, and (c) 4,152.4 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) 2,063, (b) 2,063, and (c) 4,126 performance units.

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 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.

10. 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.

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 (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.

12. 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.

13. 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 Christine M. Martin	02/02/2026
	** Signature of Reporting Person	Date
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