PPL Corp (NYSE: PPL) SVP awarded RSUs, performance units and vested shares

Rhea-AI Filing Summary

PPL Corp senior vice president–Finance and Treasurer Tadd J. Henninger reported multiple equity award activities on 01/29/2026 and 01/30/2026. He exercised performance and stock units into common shares at prices around $36.25–$36.31, with some shares withheld to cover taxes under the Stock Incentive Plan.

On 01/29/2026 he received a grant of 2,348 restricted stock units that will vest in three equal installments from 2027 to 2029, plus three performance stock unit grants of 2,348, 2,348 and 4,696 units tied to earnings, peer performance and sustainability metrics over a three-year period ending 12/31/2028.

As of 02/02/2026, Henninger directly held 20,561.87 common shares and indirectly 101.571 shares in an employee stock ownership plan trust. He also beneficially owned 18,992.984 restricted stock units and 31,491.294 performance units, which may convert into common stock depending on future performance outcomes.

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)
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		3,242	A	$36.31	15,969.166(1)	D
Common Stock	01/29/2026		F(2)		1,029	D	$36.31	14,940.166(1)	D
Common Stock	01/29/2026		M		7,175	A	$36.31	22,115.166(1)	D
Common Stock	01/29/2026		F(2)		2,065	D	$36.31	20,050.166(1)	D
Common Stock	01/30/2026		M		718.704	A	$36.25	20,768.87(1)	D
Common Stock	01/30/2026		F(2)		207	D	$36.25	20,561.87(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
Stock Unit (SIP)	(3)	01/29/2026		A		2,348		(4)	(4)	Common Stock	2,348	$0	2,348(5)	D
Performance Stock Unit (SIP)	(6)	01/29/2026		A		4,696		(6)	(6)	Common Stock	4,696	$0	4,696(7)	D
Performance Stock Unit (SIP)	(8)	01/29/2026		A		2,348		(8)	(8)	Common Stock	2,348	$0	2,348(7)	D
Performance Stock Unit (SIP)	(9)	01/29/2026		A		2,348		(9)	(9)	Common Stock	2,348	$0	2,348(7)	D
Performance Stock Unit (SIP)	(10)	01/29/2026		M			7,175(1)	(10)	(10)	Common Stock	7,175(1)	$0	0(7)	D
Performance Stock Unit (SIP)	(11)	01/29/2026		M			3,242(1)	(11)	(11)	Common Stock	3,242(1)	$0	0(7)	D
Stock Unit (SIP)	(3)	01/30/2026		M			718.704(1)	(12)	(12)	Common Stock	718.704(1)	$0.00	1,439.47(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 2,348 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 18,992.984. This total includes the two 01/25/2024 grants of (a) 12,395.567 and (b) 2,809.947 restricted stock units, two-thirds of the 01/30/2025 grant, which totals 1,439.470, 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 2,348 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 31,491.294. This total includes the 01/20/2023 grant of 2,226.809 performance units, 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.

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 Tadd J. Henninger	02/02/2026
	** Signature of Reporting Person	Date
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FAQ

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

Tadd J. Henninger reported exercises of performance and stock units into PPL common stock and related tax withholding, plus new grants of restricted and performance stock units. These awards were made under PPL’s Stock Incentive Plan and reflect routine executive equity compensation activity.

How many PPL common shares does Tadd Henninger hold after these Form 4 transactions?

After the reported transactions, Henninger directly held 20,561.87 PPL common shares and indirectly held 101.571 shares in an employee stock ownership plan trust. These holdings are separate from his restricted stock units and performance units, which may convert into additional common shares over time.

What new restricted stock units did PPL grant to Tadd Henninger on 01/29/2026?

PPL granted Henninger 2,348 restricted stock units on 01/29/2026. According to the filing, this award will vest in three equal installments on 01/29/2027, 01/29/2028 and 01/29/2029, with each vested unit converting into one share of PPL common stock.

What performance stock unit awards did PPL (PPL) disclose for Tadd Henninger?

The filing shows three 01/29/2026 performance stock unit grants to Henninger: 2,348, 2,348 and 4,696 units. These awards can be earned partly or fully based on peer performance, earnings growth and sustainability metrics over a three-year period ending 12/31/2028, as determined in January 2029.

How were PPL performance awards earned for the period ending 12/31/2025?

Previously granted performance awards were earned above target. One award was earned at 161.10% based on performance versus an industry peer group, and another at 145.58% based on ESG-related achievements over a three-year period ending 12/31/2025, with determinations made on 01/29/2026.

Why were some PPL shares withheld in Tadd Henninger’s Form 4 filing?

The filing states that certain shares were withheld by PPL at Henninger’s request to pay taxes due when restrictions lapsed. This occurred under the Stock Incentive Plan, using share values around $36.31 and $36.25 per share rather than requiring separate cash payments for withholding.

How many restricted and performance units in PPL does Tadd Henninger beneficially own?

As of 02/02/2026, Henninger beneficially owned 18,992.984 restricted stock units and 31,491.294 performance units. These units can convert into PPL common stock over time, depending on vesting schedules and whether specified performance and sustainability targets are achieved in future periods.