PPL (PPL) CEO Vincent Sorgi exercises performance units, withholds 30,103 shares for taxes

Rhea-AI Filing Summary

PPL Corp President and CEO Vincent Sorgi reported equity award activity tied to the company’s long-term incentive plan. On February 20, 2026, he exercised 68,775 Performance Stock Units (SIP), converting them into an equal number of PPL common shares at a stated price of $37.44 per share. On the same date, 30,103 common shares were withheld to cover tax obligations under the Stock Incentive Plan, leaving him with 645,492.264 common shares held directly, plus 178.31 shares held indirectly in an Employee Stock Ownership Plan trust. Footnotes explain that these units were earned at 151.5% of target based on PPL’s earnings growth over a three-year period ending December 31, 2025, with the award certification on January 29, 2026 and share calculations completed on February 20, 2026. As of February 24, 2026, he beneficially owned 566,500.837 performance units in total across multiple outstanding 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^*

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)
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		68,775	A	$37.44	675,595.264(1)	D
Common Stock	02/20/2026		F(2)		30,103	D	$37.44	645,492.264(1)	D
Common Stock								178.31(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
Performance Stock Unit (SIP)	$0.00	02/20/2026		M			68,775(1)	(3)	(3)	Common Stock	68,775(1)	$0.00	0(4)	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 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 566,500.837. This total includes 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.

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

What did PPL (PPL) CEO Vincent Sorgi report in this Form 4?

Vincent Sorgi reported exercising 68,775 Performance Stock Units into PPL common shares and a related tax-withholding share disposition. These transactions stem from PPL’s Stock Incentive Plan and reflect routine long-term incentive vesting rather than open-market buying or selling.

How many PPL shares did Vincent Sorgi acquire through equity awards?

He acquired 68,775 PPL common shares via the exercise of Performance Stock Units at a stated price of $37.44 per share. These shares arose from long-term incentive awards earned under the Stock Incentive Plan based on the company’s multi-year earnings performance.

How many PPL shares were withheld for Vincent Sorgi’s taxes?

30,103 PPL common shares were withheld to pay taxes associated with the vested equity award. The footnotes state this tax withholding occurred at Mr. Sorgi’s request under the Stock Incentive Plan terms following expiration of the applicable restriction period.

What is Vincent Sorgi’s direct PPL share ownership after these transactions?

After these transactions, Vincent Sorgi directly held 645,492.264 PPL common shares. In addition, 178.31 shares are held indirectly in trust under an Employee Stock Ownership Plan, giving him combined direct and indirect stock exposure to the company.

How were the Performance Stock Units earned under PPL’s plan?

The Performance Stock Units were earned at 151.5% of target based on PPL’s earnings growth over a three-year period ending December 31, 2025. The People and Compensation Committee determined the earned percentage on January 29, 2026, before calculating delivered shares.

How many PPL performance units does Vincent Sorgi still beneficially own?

As of February 24, 2026, Vincent Sorgi beneficially owned 566,500.837 performance units. This total includes several grants from 2024, 2025, and 2026, along with additional units credited as dividend equivalents on the underlying performance-based awards.