PPL Corp (PPL) president receives new restricted and performance stock units

Rhea-AI Filing Summary

PPL Corp reported equity compensation activity for John Gregory Cornett, President of a PPL subsidiary. On 01/29/2026 and 01/30/2026, performance and restricted stock units under the Stock Incentive Plan were converted into common shares at prices around $36.25–$36.31 per share.

The company withheld shares, including 719, 1,389 and 201 shares, to cover taxes at Mr. Cornett’s request. New grants included 2,024 and 11,017 restricted stock units that vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029, plus several performance stock unit awards tied to relative performance, earnings growth, and sustainability metrics over three-year periods ending 12/31/2028.

Footnotes state that certain prior performance awards were earned at 161.10% and 145.58% of target based on results over the three-year period ending 12/31/2025, with underlying shares calculated and delivered, net of withholding, by 01/30/2026.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Cornett John Gregory

(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		1,995	A	$36.31	10,611	D
Common Stock	01/29/2026		F(1)		719	D	$36.31	9,892	D
Common Stock	01/29/2026		M		4,412	A	$36.31	14,304	D
Common Stock	01/29/2026		F(1)		1,389	D	$36.31	12,915	D
Common Stock	01/30/2026		M		659.93	A	$36.25	13,574.93	D
Common Stock	01/30/2026		F(1)		201	D	$36.25	13,373.93	D

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)	(2)	01/29/2026		A		2,024		(3)	(3)	Common Stock	2,024	$0	2,024(4)	D
Stock Unit (SIP)	(2)	01/29/2026		A		11,017		(5)	(5)	Common Stock	11,017	$0	11,017(4)	D
Performance Stock Unit (SIP)	(6)	01/29/2026		A		4,048		(6)	(6)	Common Stock	4,048	$0	4,048(7)	D
Performance Stock Unit (SIP)	(8)	01/29/2026		A		2,024		(8)	(8)	Common Stock	2,024	$0	2,024(7)	D
Performance Stock Unit (SIP)	(9)	01/29/2026		A		2,024		(9)	(9)	Common Stock	2,024	$0	2,024(7)	D
Performance Stock Unit (SIP)	(10)	01/29/2026		M			4,412(11)	(10)	(10)	Common Stock	4,412(11)	$0	4,412(7)	D
Performance Stock Unit (SIP)	(12)	01/29/2026		M			1,995(11)	(12)	(12)	Common Stock	1,995(11)	$0	1,995(7)	D
Stock Unit (SIP)	(2)	01/30/2026		M			659.93(11)	(13)	(13)	Common Stock	659.93(11)	$0.00	1,319.859(11)	D

Explanation of Responses:

1. 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).

2. 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.

3. The total grant of 2,024 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029.

4. As of 02/02/2026, total restricted stock units beneficially owned is 16,756.710. This total includes the 01/25/2024 grant of 1,488 restricted stock units, the 03/04/2024 grant of 757.714 restricted stock units, the 05/02/2024 grant of 150.137 restricted stock units, and two-thirds of the 01/30/2025 grant, which totals 1,319.859, 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) 2,024 and (b) 11,017 restricted stock units.

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

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 27,368.297. This total includes the 01/20/2023 grant of 1,369.746 performance units, the three 01/25/2024 grants of (a) 1,587.999, (b) 1,587.999, and (c) 3,175.997 performance units, the three 03/04/2024 grants of (a) 757.714, (b) 757.714, and (c) 1,515.427 performance units, the three 05/02/2024 grants of (a) 150.137, (b) 150.137, and (c) 300.273 performance units, the three 01/30/2025 grants of (a) 1,979.789, (b) 1,979.789, and (c) 3,959.576 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 1/29/2026 grants of (a) 2,024, (b) 2,024, and (c) 4,048 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. Total includes the reinvestment of dividends.

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 ov er 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 Marlene C. Beers	02/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did PPL (PPL) disclose for John Gregory Cornett?

PPL disclosed that officer John Gregory Cornett had performance and restricted stock units converted into common stock on 01/29/2026 and 01/30/2026. These transactions reflected routine equity compensation activity under PPL’s Stock Incentive Plan, not an open-market discretionary share purchase or sale.

How many new restricted stock units did the PPL officer receive?

The officer received two new grants totaling 13,041 restricted stock units: one grant of 2,024 units and another of 11,017 units. Under the Stock Incentive Plan, each grant vests in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029, subject to continued eligibility.

What performance stock units were granted in this PPL Form 4 filing?

PPL reported new performance stock unit grants, including 4,048 units and two grants of 2,024 units each. These awards can result in all, some, or none of the underlying shares being earned, depending on relative performance, earnings growth, and sustainability metrics over three-year periods ending 12/31/2028.

Why were some PPL shares withheld in John Gregory Cornett’s transactions?

Shares, including blocks of 719, 1,389 and 201 common shares, were withheld by PPL at the officer’s request to pay taxes due upon vesting. This tax withholding occurred after restricted or performance-based units converted into common stock under the Stock Incentive Plan’s terms.

At what prices were PPL common shares associated with these awards valued?

Common stock involved in these equity award transactions was reported at around $36.25 to $36.31 per share. These prices applied to shares issued or withheld when stock units converted to common stock, reflecting the valuation used for the compensation and tax withholding events.

How did prior PPL performance awards pay out for the reporting officer?

Footnotes show earlier performance awards were earned above target, at 161.10% and 145.58% of the original grant. These payouts were based on three-year performance through 12/31/2025, with final earned shares determined on 01/29/2026 and delivered, net of tax withholding, by 01/30/2026.