PPL (NYSE: PPL) EVP exercises stock units and withholds shares for taxes

Rhea-AI Filing Summary

PPL Corp executive Wendy E. Stark reported equity transactions tied to performance stock units. On 02/20/2026, she exercised 14,621 performance stock units into 14,621 shares of common stock at a stated price of $37.44 per share. To cover taxes, 6,400 common shares were withheld under the Stock Incentive Plan, as noted in the footnotes. After these transactions, she directly owned 104,626.314 shares of PPL common stock, including dividend reinvestments. A separate footnote states that, as of 02/24/2026, she beneficially owned 107,757.948 performance units from multiple prior and recent grants.

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^*

Stark Wendy E

(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 & CLO

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		14,621	A	$37.44	111,026.314	D
Common Stock	02/20/2026		F(1)		6,400	D	$37.44	104,626.314	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
Performance Stock Unit (SIP)	$0.00	02/20/2026		M			14,621(2)	(3)	(3)	Common Stock	14,621(2)	$0.00	0(4)	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. Total includes the reinvestment of dividends.

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 107,757.948. This total includes the three 01/25/2024 grants of (a) 9,665.662, (b) 9,665.662, and (c) 19,330.253 performance units, the three 01/30/2025 grants of (a) 8,993.601, (b) 8,993.601, and (c) 17,986.169 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) 8,281, (b) 8,281, and (c) 16,561 performance units.

	/s/ W. Eric Marr, as Attorney-In-Fact for Wendy E. Stark	02/24/2026
	** Signature of Reporting Person	Date
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FAQ

What did PPL (PPL) executive Wendy Stark report in this Form 4?

Wendy E. Stark, EVP & CLO of PPL, reported exercising 14,621 performance stock units into common shares and a related tax-withholding share disposition. These transactions reflect routine equity compensation activity under PPL’s Stock Incentive Plan rather than an open-market purchase or sale.

How many PPL common shares does Wendy Stark hold after these transactions?

After the reported transactions on 02/20/2026, Wendy E. Stark directly owned 104,626.314 PPL common shares. A footnote indicates this total includes the reinvestment of dividends, reflecting ongoing accumulation through the company’s dividend-related programs.

What performance units are disclosed for Wendy Stark in this PPL filing?

As of 02/24/2026, Wendy E. Stark beneficially owned 107,757.948 performance units. The footnotes explain this figure includes multiple grants from 2024, 2025, and 2026, plus additional performance units credited as dividend equivalents on the underlying awards.

Was the share disposition by Wendy Stark an open-market sale of PPL stock?

No, the 6,400-share disposition is described as shares withheld by PPL at Stark’s request to pay taxes due. This tax-withholding transaction occurred under the Stock Incentive Plan rather than as an open-market sale of PPL common stock.

How were Wendy Stark’s performance stock units earned in this PPL transaction?

A footnote states the underlying securities were earned at 151.5% of target under the Stock Incentive Plan. The payout was based on PPL’s earnings growth over a three-year performance period ending 12/31/2025, with the committee’s determination made on 01/29/2026.