PPL Corp (NYSE: PPL) VP Beers gains shares from PSU vest, withholds for taxes

Rhea-AI Filing Summary

PPL Corp Vice President and Controller Marlene C. Beers exercised performance stock units and received 3,282 shares of common stock on the vesting of a Stock Incentive Plan (SIP) award. The award was earned at 151.5% of target based on the company’s earnings growth over a three-year period ending 12/31/2025.

To cover taxes due at vesting, 945 of these shares were withheld by the company, leaving Beers with 54,953.075 directly owned common shares. She also has indirect investment power over 1,500 additional shares held by a family member and, as of 02/24/2026, beneficially owns 24,439.488 performance units from multiple SIP grants with dividend-equivalent credits.

Insider Trade Summary

3,282 shares exercised/converted

Mixed 4 txns

Insider Beers Marlene C

Role Vice President and Controller

Type	Security	Shares	Price	Value
Exercise	Performance Stock Unit (SIP)	3,282	$0.00	--
Exercise	Common Stock	3,282	$37.44	$123K
Tax Withholding	Common Stock	945	$37.44	$35K
holding	Common Stock	--	--	--

Holdings After Transaction: Performance Stock Unit (SIP) — 0 shares (Direct); Common Stock — 55,898.075 shares (Direct); Common Stock — 1,500 shares (Indirect, Has investment power over shares owned by family member.)

Footnotes (1)

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). Total includes the reinvestment of dividends. 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. As of 02/24/2026, total performance units beneficially owned is 24,439.488. This total includes 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.

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Form 4 Insider Transactions: What Each Field Means →

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^*

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)
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		3,282	A	$37.44	55,898.075	D
Common Stock	02/20/2026		F(1)		945	D	$37.44	54,953.075	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
Performance Stock Unit (SIP)	$0.00	02/20/2026		M			3,282(2)	(3)	(3)	Common Stock	3,282(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 24,439.488. This total includes 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.

	/s/ W. Eric Marr, as Attorney-In-Fact for Marlene C. Beers	02/24/2026
	** 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) report for Marlene C. Beers?

PPL reported that Vice President and Controller Marlene C. Beers exercised 3,282 performance stock units into common shares. The transaction reflects routine vesting under the Stock Incentive Plan rather than an open-market purchase, and is part of her long-term incentive compensation.

How many PPL (PPL) shares does Marlene C. Beers own after this Form 4?

After the reported transactions, Marlene C. Beers directly owns 54,953.075 PPL common shares. She also has indirect investment power over 1,500 additional shares held by a family member, as disclosed in the Form 4 ownership table and related footnotes.

Why were 945 PPL (PPL) shares withheld in Marlene Beers’ Form 4?

The Form 4 states that 945 common shares were withheld by PPL at Beers’ request to pay taxes due at vesting. This tax-withholding disposition is described under the Stock Incentive Plan terms and does not represent an open-market sale of shares.

What performance period determined Marlene Beers’ PPL (PPL) stock unit payout?

The performance stock unit payout was based on PPL’s earnings growth over a three-year period ending 12/31/2025. The People and Compensation Committee determined the 151.5% earned percentage on 01/29/2026, and underlying share calculations were finalized on 02/20/2026.

How many PPL (PPL) performance units does Marlene Beers still hold?

As of 02/24/2026, Beers beneficially owns 24,439.488 performance units. This total comes from several grants made in 2024, 2025, and 2026, plus incremental performance units credited as dividend equivalents under the company’s Stock Incentive Plan.

Did Marlene Beers sell any PPL (PPL) shares on the open market?

The Form 4 shows a code F transaction where 945 shares were used to pay taxes. This is characterized as a tax-withholding disposition under the incentive plan, not an open-market sale, and was executed by delivering shares back to the company.