PPL Corp (NYSE: PPL) VP Beers adds stock and units with tax withholding

Rhea-AI Filing Summary

PPL Corp vice president and controller Marlene C. Beers reported multiple equity transactions and awards under the company’s Stock Incentive Plan. On 01/29/2026 and 01/30/2026, she acquired common stock through the settlement of stock and performance units, with 3,154, 6,977 and 636.214 shares delivered. To cover taxes, 1,013, 2,008 and 184 shares were withheld by the company at prices of $36.31 and $36.25.

She received a new grant of 1,759 restricted stock units, vesting in three equal installments on 01/29/2027, 01/29/2028 and 01/29/2029, plus performance stock unit awards of 3,518 and two grants of 1,759 units tied to relative performance, earnings growth and sustainability metrics through 12/31/2028. As of 02/02/2026, she beneficially owned 52,616.075 common shares directly, 1,500 shares indirectly through a family member, 5,474.183 restricted stock units and 26,605.395 performance units, including dividend equivalents. Prior performance cycles ending 12/31/2025 paid out at 161.10% and 145.58% of target, leading to share delivery net of withholding on 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

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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^*

Beers Marlene C

(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)
	Vice President and Controller

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		3,154	A	$36.31	48,207.861	D
Common Stock	01/29/2026		F(1)		1,013	D	$36.31	47,194.861	D
Common Stock	01/29/2026		M		6,977	A	$36.31	54,171.861	D
Common Stock	01/29/2026		F(1)		2,008	D	$36.31	52,163.861	D
Common Stock	01/30/2026		M		636.214	A	$36.25	52,800.075	D
Common Stock	01/30/2026		F(1)		184	D	$36.25	52,616.075	D
Common Stock								1,500	I	Has investment power over shares owned by family member.

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		1,759		(3)	(3)	Common Stock	1,759	$0	1,759(4)	D
Performance Stock Unit (SIP)	(5)	01/29/2026		A		3,518		(5)	(5)	Common Stock	3,518	$0	3,518(6)	D
Performance Stock Unit (SIP)	(7)	01/29/2026		A		1,759		(7)	(7)	Common Stock	1,759	$0	1,759(6)	D
Performance Stock Unit (SIP)	(8)	01/29/2026		A		1,759		(8)	(8)	Common Stock	1,759	$0	1,759(6)	D
Performance Stock Unit (SIP)	(9)	01/29/2025		M			6,977(10)	(9)	(9)	Common Stock	6,977(10)	$0	0(6)	D
Performance Stock Unit (SIP)	(11)	01/29/2025		M			3,154(10)	(11)	(11)	Common Stock	3,154(10)	$0	0(6)	D
Stock Unit (SIP)	(2)	01/30/2026		M			636.214(10)	(12)	(12)	Common Stock	636.214(10)	$0.00	1,274.488(10)	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 1,759 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 5,474.183. This total includes the 01/25/2024 grant of 2,440.695 restricted stock units, two-thirds of the 01/30/2025 grant, which totals 1,274.488, 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 1,759 restricted stock units.

5. 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.

6. As of 02/02/2026, total performance units beneficially owned is 26,605.395. This total includes the 01/20/2023 grant of 2,165.907 performance units, the three 01/25/2024 grants of (a) 2,440.695, (b) 2,440.695, and (c) 4,880.321 performance units, the three 01/30/2025 grants of (a) 1,910.702, (b) 1,910.702, and (c) 3,820.373 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) 1,759, (b) 1,759, and (c) 3,518 performance units.

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 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.

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 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.

9. 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.

10. Total includes the reinvestment of dividends.

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 Marlene C. Beers	02/02/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did PPL (PPL) executive Marlene C. Beers report?

Marlene C. Beers reported stock deliveries and tax withholdings tied to equity awards under PPL’s Stock Incentive Plan. She received common shares from vested stock and performance units, while 1,013, 2,008 and 184 shares were withheld at $36.31 and $36.25 to cover taxes.

How many restricted stock units did PPL’s Marlene C. Beers receive in 2026?

Beers received a new grant of 1,759 restricted stock units on 01/29/2026. These units vest in three equal installments on 01/29/2027, 01/29/2028 and 01/29/2029, converting into an equal number of PPL common shares on each vesting date under the Stock Incentive Plan.

What performance stock units were granted to Marlene C. Beers at PPL (PPL)?

On 01/29/2026, Beers received three performance stock unit awards: one for 3,518 units and two for 1,759 units each. These can be earned based on relative performance, earnings growth and sustainability metrics over a three-year period ending 12/31/2028.

How many PPL shares and units does Marlene C. Beers beneficially own after these transactions?

As of 02/02/2026, Beers beneficially owned 52,616.075 PPL common shares directly and 1,500 shares indirectly through a family member. She also held 5,474.183 restricted stock units and 26,605.395 performance units, including amounts credited for dividend equivalents.

How did PPL’s past performance affect Beers’ performance stock unit payouts?

For a three-year period ending 12/31/2025, certain performance stock units were earned at 161.10% of target based on peer performance and 145.58% based on ESG metrics. The resulting underlying shares were calculated and delivered, net of withholding, on 01/30/2026.

What is the Stock Incentive Plan (SIP) used in PPL (PPL) executive awards?

PPL’s Stock Incentive Plan provides restricted stock units and performance stock units to executives. Restricted units convert one-for-one into common shares at vesting, while performance units may earn all, some or none of the underlying shares based on multi-year financial, peer-comparison and sustainability performance goals.