Crockett John R III 4

What Happened

• John R. Crockett III, President of a PPL subsidiary, exercised/converted 6,090.229 vested units into PPL common stock on 2026-01-20. The reported exercise price used for value reporting was $36.91, giving a gross value of approximately $224,790.
• To cover tax withholding, 2,062 shares were surrendered (disposed) at $36.91, valued at about $76,108. The conversion/derivative line shows the units were converted into shares (no cash proceeds shown). Net shares received by Mr. Crockett after withholding were approximately 4,028.229 shares.

Key Details

• Transaction date: 2026-01-20
• Exercise/conversion: 6,090.229 shares @ $36.91 (gross value ~$224,790)
• Tax withholding: 2,062 shares @ $36.91 (value ~$76,108) — shares withheld by the company to pay taxes (Footnote F1)
• Vesting: the units vested on 01/20/2026 (Footnote F3)
• Shares owned after transaction: not reported in the filing
• Filing timeliness: no late filing indicator noted

Context

• This was an exercise/conversion of vested equity (derivative instruments/units). Part of the shares were withheld by the company to satisfy tax obligations, a common cashless-like settlement under stock incentive plans.
• Transaction codes: M = option/derivative exercise/conversion; F = shares withheld to cover tax liability. These routine exercises reflect vesting and tax withholding rather than an open-market buy or sell.