Cornett John Gregory 4

What Happened

• John Gregory Cornett, president of a PPL subsidiary, exercised/converted derivative awards on 2026-01-20, resulting in 1,237 shares acquired through an exercise at $36.91 per share (total exercise cost $45,658). The company withheld 455 of those shares to satisfy tax withholding obligations (value ~ $16,794). The filing also reports a related conversion/vesting entry for 1,237 units at $0, reflecting that the units vested on 01/20/2026.

Key Details

• Transaction date: 2026-01-20 (Form 4 filed 2026-01-21)
• Exercise: 1,237 shares acquired at $36.91/share — total exercise cost $45,658
• Tax withholding: 455 shares withheld/disposed at $36.91/share — value ~$16,794 (footnote F1: shares withheld by company to pay taxes under the Stock Incentive Plan)
• Vesting note: Units vested on 01/20/2026 (footnote F2)
• Shares owned after transaction: Not specified in the provided summary of the filing
• Timeliness: Filing appears timely (filed the next day); no late filing indicated

Context

• This is an option/award exercise and vesting event (derivative exercise and conversion), not an open-market purchase or sale by the insider. The withholding of shares to cover tax obligations is a routine administrative action (cashless withholding), not a market sale intended as investment signaling.