PPL (NYSE: PPL) CEO exercises stock awards and receives new long-term units

Rhea-AI Filing Summary

PPL Corp President and CEO Vincent Sorgi reported multiple equity-compensation transactions under the company’s Stock Incentive Plan. On 01/29/2026, performance stock units converted into common stock at $36.31 per share, with examples including 66,087 and 146,265 shares acquired. The company withheld 28,927 and 64,021 shares at the same price to cover taxes, as requested under the plan, leaving Sorgi with 515,997.522 and then 598,241.522 directly held shares after those steps. On 01/30/2026, an additional 15,256.742 shares were issued at $36.25, with 6,678 shares withheld for taxes, bringing direct holdings to 606,820.264 shares, plus 178.31 shares held indirectly in an employee stock ownership trust.

Sorgi also received new long-term incentives: a grant of 42,144 restricted stock units vesting in three equal parts on 01/29/2027, 01/29/2028, and 01/29/2029, and several performance stock unit awards totaling 42,144 and 84,288 units tied to relative performance, earnings growth, and sustainability metrics over a three-year period ending 12/31/2028. Footnotes note that certain earlier performance awards were earned at 161.10% and 145.58% of target based on results through 12/31/2025.

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^*

Sorgi Vincent

(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 and CEO

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		66,087	A	$36.31	544,924.522(2)	D
Common Stock	01/29/2026		F(1)		28,927	D	$36.31	515,997.522(2)	D
Common Stock	01/29/2026		M		146,265	A	$36.31	662,262.522(2)	D
Common Stock	01/29/2026		F(1)		64,021	D	$36.31	598,241.522(2)	D
Common Stock	01/30/2026		M		15,256.742	A	$36.25	613,498.264(2)	D
Common Stock	01/30/2026		F(1)		6,678	D	$36.25	606,820.264(2)	D
Common Stock								178.31(2)	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		42,144		(4)	(4)	Common Stock	42,144	$0	42,144(5)	D
Performance Stock Unit (SIP)	(6)	01/29/2026		A		84,288		(6)	(6)	Common Stock	84,288	$0	84,288(7)	D
Performance Stock Unit (SIP)	(8)	01/29/2026		A		42,144		(8)	(8)	Common Stock	42,144	$0	42,144(7)	D
Performance Stock Unit (SIP)	(9)	01/29/2026		A		42,144		(9)	(9)	Common Stock	42,144	$0	42,144(7)	D
Performance Stock Unit (SIP)	(10)	01/29/2026		M			146,265(2)	(10)	(10)	Common Stock	146,265(2)	$0	0(7)	D
Performance Stock Unit (SIP)	(11)	01/29/2026		M			66,087(2)	(11)	(11)	Common Stock	66,087(2)	$0	0(7)	D
Stock Unit (SIP)	(3)	01/30/2026		M			15,256.742(2)	(12)	(12)	Common Stock	15,256.742(2)	$0.00	30,514.519(2)	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 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 42,144 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 126,368.726. This total includes the 01/25/2024 grant of 53,710.207 restricted stock units, two-thirds of the 1/30/2025 grant, which totals 30,514.519, 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 42,144 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 611,896.290. This total includes the 01/20/2023 grant of 45,395.453 performance units, the three 01/25/2024 grants of (a) 53,710.207, (b) 53,710.207, and (c) 107,420.413 performance units, the three 01/30/2025 grants of (a) 45,771.261, (b) 45,771.261, and (c) 91,541.488 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) 42,144, (b) 42,144, and (c) 84,288 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 Vincent Sorgi	02/02/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did PPL (PPL) CEO Vincent Sorgi report?

Vincent Sorgi reported exercises of stock and performance units into PPL common stock and related tax withholdings. On 01/29/2026 and 01/30/2026, multiple awards converted into shares around $36 per share under the Stock Incentive Plan, increasing his directly held share balance.

How many PPL shares does CEO Vincent Sorgi hold after these Form 4 transactions?

After the reported transactions, Vincent Sorgi directly holds 606,820.264 PPL common shares and 178.31 shares indirectly through an employee stock ownership trust. These balances reflect the net result of award conversions and shares withheld to cover taxes under the Stock Incentive Plan.

What new restricted stock units did PPL grant to CEO Vincent Sorgi?

PPL granted Vincent Sorgi 42,144 restricted stock units under its Stock Incentive Plan. These units vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029. Each vested unit converts into one share of PPL common stock on its applicable vesting date.

What new performance stock units did PPL award to CEO Vincent Sorgi?

PPL awarded performance stock units of 42,144 units and an 84,288-unit award to Vincent Sorgi. These units may be earned based on company performance, earnings growth, and sustainability metrics over a three-year period ending 12/31/2028, with final determinations expected in January 2029.

Why were some PPL shares withheld from Vincent Sorgi in these transactions?

Shares labeled with transaction code F were withheld by PPL at Vincent Sorgi’s request to pay taxes due at vesting. For example, 28,927 and 64,021 shares on 01/29/2026 and 6,678 shares on 01/30/2026 were retained by the company instead of being delivered.

How did earlier PPL performance awards pay out for Vincent Sorgi?

Certain performance awards under PPL’s Stock Incentive Plan were earned at 161.10% and 145.58% of target. These results were based on performance relative to an industry peer group and ESG-related metrics over the three-year period ending 12/31/2025, as determined in January 2026.

What are Vincent Sorgi’s outstanding restricted and performance units at PPL?

As of 02/02/2026, Vincent Sorgi beneficially owns 126,368.726 restricted stock units and 611,896.290 performance units. These totals include prior grants, dividend-equivalent credits, and the newly reported 01/29/2026 awards under the Stock Incentive Plan.