Sorgi Vincent 4

What Happened

• Vincent Sorgi, President and CEO of PPL Corp (PPL), exercised/converted derivative awards that resulted in 45,395.453 shares on 2026-01-20. The shares are reported at $36.91 each, a gross value of $1,675,546. Of those shares, 16,001 were withheld by the company to satisfy tax withholding obligations (value reported $590,597), leaving a net issuance of about 29,394.453 shares to Sorgi (net value ≈ $1,084,949).

Key Details

• Transaction date: 2026-01-20; Form 4 filed: 2026-01-21 (appears timely).
• Exercise/conversion: 45,395.453 shares acquired at $36.91 each (total $1,675,546).
• Tax withholding: 16,001 shares disposed/withheld at $36.91 each (value $590,597) to cover taxes per the Stock Incentive Plan (SIP) (see footnote F2).
• Net shares received: ~29,394.453 (45,395.453 − 16,001) — net value ≈ $1,084,949.
• Footnotes: F2 notes shares were withheld at the executive’s request to pay taxes following expiration of the restriction period; F3 notes the units vested on 01/20/2026; F1 indicates totals include dividend reinvestment where applicable.
• Shares owned after the transaction are not specified in the excerpt of the filing provided.

Context

• This was an exercise/conversion of vested units (not an open-market purchase). The withholding of shares to cover taxes is a common, routine part of stock-plan settlements (a form of cashless/net settlement), not an outright market sale for cash. The filing shows acquisition via exercise and contemporaneous withholding to meet tax obligations.