PPL (PPL) finance SVP converts performance units, withholds stock for taxes

Rhea-AI Filing Summary

PPL Corp senior vice president of finance and treasurer Tadd J. Henninger reported equity award activity involving performance stock units and common shares. On February 20, 2026, 3,374 performance stock units under the Stock Incentive Plan were exercised and converted into 3,374 shares of common stock at an exercise price of $0.00 per unit.

On the same date, 971 common shares were disposed of at $37.44 per share to cover taxes due following expiration of the restriction period, as permitted under the plan. After these transactions, Henninger directly owned 22,964.87 common shares and indirectly held 101.571 shares in a trust under the Employee Stock Ownership Plan. A footnote states that 29,264.485 performance units were beneficially owned as of February 24, 2026, reflecting multiple grants and dividend-equivalent credits.

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^*

Henninger Tadd J

(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)
	SVP-Finance and Treasurer

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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	02/20/2026		M		3,374	A	$37.44	23,935.87(1)	D
Common Stock	02/20/2026		F(2)		971	D	$37.44	22,964.87(1)	D
Common Stock								101.571(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
Performance Stock Unit (SIP)	$0.00	02/20/2026		M			3,374(1)	(3)	(3)	Common Stock	3,374(1)	$0.00	0(4)	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 or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), the underlying securities were earned (151.5%) based on the Company's earnings growth 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 02/20/2026.

4. As of 02/24/2026, total performance units beneficially owned is 29,264.485. This total includes the three 01/25/2024 grants of (a) 2,809.947, (b) 2,809.947, and (c) 5,619.892 performance units, the three 01/30/2025 grants of (a) 2,158.174, (b) 2,158.174, and (c) 4,316.351 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) 2,348, (b) 2,348, and (c) 4,696 performance units.

	/s/ W. Eric Marr, as Attorney-In-Fact for Tadd J. Henninger	02/24/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did PPL (PPL) executive Tadd Henninger report?

Tadd Henninger reported exercising 3,374 performance stock units into common stock at $0.00 per unit, then disposing of 971 common shares at $37.44 per share to cover tax obligations under the Stock Incentive Plan on February 20, 2026.

How many PPL (PPL) shares does Tadd Henninger own after this Form 4?

After the reported transactions, Tadd Henninger directly owned 22,964.87 PPL common shares and indirectly held 101.571 shares in a trust under the Employee Stock Ownership Plan, according to the ownership details disclosed in the filing.

What was the purpose of the 971 PPL (PPL) shares disposed of by Tadd Henninger?

The 971 PPL common shares were withheld by the company at Henninger’s request to pay taxes due after the restriction period expired, as allowed under the Stock Incentive Plan, rather than being an open-market sale transaction.

What are performance stock units in PPL’s (PPL) Stock Incentive Plan?

Performance stock units are equity awards that convert into common shares based on company performance. In this case, the units were earned at 151.5% of target based on PPL’s earnings growth over a three-year period ending December 31, 2025.

How many PPL (PPL) performance units does Tadd Henninger beneficially own?

As of February 24, 2026, Henninger beneficially owned 29,264.485 performance units. This total reflects several grants made in 2024, 2025, and 2026, plus additional units credited as dividend equivalents on the underlying performance awards.

At what price were PPL (PPL) shares involved in Henninger’s Form 4 transactions valued?

The performance stock units converted into common stock at an exercise or conversion price of $0.00 per unit, while the 971 common shares used for tax withholding were valued at $37.44 per share on February 20, 2026.