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PPL Corp·4

Feb 2, 5:27 PM ET

Cornett John Gregory 4

4 · PPL Corp · Filed Feb 2, 2026

Research Summary

AI-generated summary of this filing

Updated

PPL President John G. Cornett Exercises Options, Receives Awards

What Happened
John Gregory Cornett, president of a PPL subsidiary, exercised derivatives and received multiple equity awards in transactions dated Jan 29–30, 2026. He exercised a total of about 7,066.93 shares (1,995; 4,412; 659.93) at prices around $36.25–$36.31, paying approximately $256,560 in exercise price. The company withheld roughly 2,309 shares to cover taxes (value ≈ $83,828), leaving a net of about 4,757.93 shares delivered to him. In addition, Cornett was credited with multiple restricted stock / performance unit awards (zero purchase price) totaling about 21,137 units under the company’s Stock Incentive Plan; the People and Compensation Committee determined earned amounts for performance awards on 01/29/2026 and delivery/net-withholding was completed on 01/30/2026.

Key Details

  • Transaction dates: Jan 29–30, 2026 (Form 4 filed 02/02/2026; filing is timely).
  • Exercise details: 1,995 @ $36.31 ($72,438); 4,412 @ $36.31 ($160,200); 659.93 @ $36.25 ($23,922). Total exercise cash paid ≈ $256,560.
  • Tax withholding: 719 + 1,389 + 201 = 2,309 shares withheld (values: $26,107; $50,435; $7,286; total ≈ $83,828) under company withholding (F1).
  • Awards/grants: multiple A-coded grants/conversions on 01/29/2026 totaling ~21,137 restricted stock units / performance units (no cash paid). Some awards were performance-earned (see F10 and F12).
  • Reported beneficial ownership (as of 02/02/2026) per filing: restricted stock units = 16,756.710; performance units = 27,368.297 (see F4, F7).
  • Notable footnotes: F1 (shares withheld for taxes); F10/F12 (performance awards earned at 161.10% and 145.58% for two grants, determined 01/29/2026; net delivery completed 01/30/2026); F3/F5 vesting schedules for certain RSUs.
  • Transaction codes used: M = exercise/conversion of derivative; A = award/grant; F = shares withheld to satisfy tax withholding.

Context

  • This was primarily an exercise of equity awards plus delivery of RSU/performance awards rather than an open-market sale—withholding of shares to satisfy taxes is a routine administrative step and not an open-market liquidity event.
  • Performance-based awards had payout multipliers set by the People and Compensation Committee based on multi-year performance/ESG metrics; the filing documents the committee’s determinations and net delivery.
  • These transactions do not, by themselves, indicate intent to buy or sell stock in the open market; they are largely plan-driven exercises and award deliveries.

Insider Transaction Report

Form 4
Period: 2026-01-29
PPL CorpPPL
Cornett John Gregory
President of a PPL Subsidiary
Transactions
  • Exercise/Conversion

    Common Stock

    2026-01-29$36.31/sh+1,995$72,438→ 10,611 total
  • Tax Payment

    Common Stock

    [F1]
    2026-01-29$36.31/sh−719$26,107→ 9,892 total
  • Exercise/Conversion

    Common Stock

    2026-01-29$36.31/sh+4,412$160,200→ 14,304 total
  • Tax Payment

    Common Stock

    [F1]
    2026-01-29$36.31/sh−1,389$50,435→ 12,915 total
  • Exercise/Conversion

    Common Stock

    2026-01-30$36.25/sh+659.93$23,922→ 13,574.93 total
  • Tax Payment

    Common Stock

    [F1]
    2026-01-30$36.25/sh−201$7,286→ 13,373.93 total
  • Award

    Stock Unit (SIP)

    [F2][F3][F4]
    2026-01-29+2,024→ 2,024 total
    → Common Stock (2,024 underlying)
  • Award

    Stock Unit (SIP)

    [F2][F5][F4]
    2026-01-29+11,017→ 11,017 total
    → Common Stock (11,017 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F6][F7]
    2026-01-29+4,048→ 4,048 total
    → Common Stock (4,048 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F8][F7]
    2026-01-29+2,024→ 2,024 total
    → Common Stock (2,024 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F9][F7]
    2026-01-29+2,024→ 2,024 total
    → Common Stock (2,024 underlying)
  • Exercise/Conversion

    Performance Stock Unit (SIP)

    [F10][F11][F7]
    2026-01-29−4,412→ 4,412 total
    → Common Stock (4,412 underlying)
  • Exercise/Conversion

    Performance Stock Unit (SIP)

    [F12][F11][F7]
    2026-01-29−1,995→ 1,995 total
    → Common Stock (1,995 underlying)
  • Exercise/Conversion

    Stock Unit (SIP)

    [F2][F11][F13]
    2026-01-30−659.93→ 1,319.859 total
    → Common Stock (659.93 underlying)
Footnotes (13)
  • [F1]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).
  • [F10]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 (161.10%) based on the Company's performance relative to an industry peer group 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 01/30/2026.
  • [F11]Total includes the reinvestment of dividends.
  • [F12]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 (145.58%) based on the Company's achievements of certain ESG-related metrics ov er 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 01/30/2026.
  • [F13]One-third of the 01/30/2025 grant of restricted stock units vested on 01/30/2026; the remaining thirds will vest on 01/30/2027 and 01/30/2028, respectively.
  • [F2]No conversion or exercise price applies. Under the terms of the Stock Incentive Plan (SIP), a restricted stock unit converts to a share of common stock on the applicable vesting date.
  • [F3]The total grant of 2,024 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029.
  • [F4]As of 02/02/2026, total restricted stock units beneficially owned is 16,756.710. This total includes the 01/25/2024 grant of 1,488 restricted stock units, the 03/04/2024 grant of 757.714 restricted stock units, the 05/02/2024 grant of 150.137 restricted stock units, and two-thirds of the 01/30/2025 grant, which totals 1,319.859, plus in each case, the incremental addition of restricted stock units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such restricted stock units, and the two 01/29/2026 grants of (a) 2,024 and (b) 11,017 restricted stock units.
  • [F5]The total grant of 11,017 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028, 01/29/2029.
  • [F6]No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's performance relative to a peer group (determined by the Company's People and Compensation Committee as described in more detail in the Company's annual Proxy Statement on Schedule 14A), over a three-year performance period ending 12/31/2028. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2029.
  • [F7]As of 02/02/2026, total performance units beneficially owned is 27,368.297. This total includes the 01/20/2023 grant of 1,369.746 performance units, the three 01/25/2024 grants of (a) 1,587.999, (b) 1,587.999, and (c) 3,175.997 performance units, the three 03/04/2024 grants of (a) 757.714, (b) 757.714, and (c) 1,515.427 performance units, the three 05/02/2024 grants of (a) 150.137, (b) 150.137, and (c) 300.273 performance units, the three 01/30/2025 grants of (a) 1,979.789, (b) 1,979.789, and (c) 3,959.576 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) 2,024, (b) 2,024, and (c) 4,048 performance units.
  • [F8]No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's earnings growth over a three-year performance period ending 12/31/2028. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2029.
  • [F9]No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's achievement of certain long-term sustainability-related metrics over a three-year performance period ending 12/31/2028. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2029.
Signature
/s/ W. Eric Marr, as Attorney-In-Fact for Marlene C. Beers|2026-02-02

Documents

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    ownership.xmlPrimary

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