[Form 4] Tractor Supply Co Insider Trading Activity

Rhea-AI Filing Summary

PNC Financial Services Group (PNC) – Form 4 insider filing

Director Robert A. Niblock reported a routine, compensation-related transaction dated July 1, 2025. The filing shows:

• Acquisition of 133 Phantom Stock Units under the PNC Deferred Compensation Plan at a reference price of $192.52 per unit. Phantom units are cash-settled equivalents of common shares and do not confer voting rights.
• Following the transaction, Mr. Niblock now indirectly holds 1,659 phantom stock units and directly holds 4,740 deferred stock units granted under the Directors Deferred Stock Unit Program.

No common shares were bought or sold; the activity occurred within established board compensation programs and is exempt from short-swing profit rules. Given PNC’s multi-billion-dollar market capitalization, the ≈$25 thousand notional value is immaterial and unlikely to influence the company’s share price or signal a directional view.

Insights

Senior Securities Analyst

TL;DR: Routine compensation grant; negligible market impact.

The filing reflects a small, automatic addition of phantom stock units to Director Robert A. Niblock’s deferred compensation account. Because phantom units settle in cash and involve no open-market purchase of equity, the transaction neither alters insider ownership of tradable shares nor conveys information on management’s outlook. The dollar value (< 0.001 % of PNC’s equity) is non-material. I classify the disclosure as neutral for investors.

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^*

Ham Margaret M

(Last) (First) (Middle)

C/O TRACTOR SUPPLY COMPANY

5401 VIRGINIA WAY

(Street)

BRENTWOOD TN 37027

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TRACTOR SUPPLY CO /DE/ [ TSCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		A		497.442	A(1)	$52.77	12,288.907	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

Explanation of Responses:

1. Grant pursuant to an election by the recipient under the Tractor Supply Company Directors Stock Election Plan to receive unrestricted shares of common stock in lieu of cash compensation earned.

Remarks:

	Margaret M. Ham by: /s/ Robert C. Lambourne, as Attorney-in-fact	07/03/2025
	** 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 did Director Robert A. Niblock report in the July 2025 Form 4 for PNC?

Acquisition of 133 phantom stock units valued at $192.52 each under a deferred compensation plan.

How many PNC phantom stock units does Niblock hold after the transaction?

He now indirectly owns 1,659 phantom stock units.

Do phantom stock units give Niblock voting power in PNC?

No. Phantom units are cash-settled equivalents and carry no voting rights.

Is the Form 4 transaction likely to impact PNC’s share price?

Unlikely. The notional value is ≈$25 k, immaterial relative to PNC’s market cap.