Stark Wendy E 4

What Happened
Wendy E. Stark, Executive Vice President & Chief Legal Officer of PPL Corp (PPL), exercised stock derivatives and received multiple restricted/performance awards under the company Stock Incentive Plan. On 01/29–01/30/2026 she acquired 48,138.524 shares via exercises at roughly $36.31 and $36.25 per share (aggregate cash value ≈ $1,747,730). The company withheld 18,413 shares to satisfy tax withholding obligations (cash value ≈ $668,497), leaving a net ~29,725.524 shares retained (net value ≈ $1,079,233). She also received several awards (RSUs/performance units) under the SIP (grants of 8,281; 16,561; and other unit grants noted in the filing).

Key Details

• Transaction dates: 01/29/2026 and 01/30/2026; Form 4 filed 02/02/2026.
• Exercise prices and amounts: 14,049 @ $36.31 ($510,119); 31,092 @ $36.31 ($1,128,951); 2,997.524 @ $36.25 ($108,660).
• Tax withholding (F): 4,042 + 13,058 + 1,313 = 18,413 shares withheld (total ≈ $668,497).
• Net shares retained from these exercises: ~29,725.524 shares (≈ $1.08M value).
• Awards/grants: multiple SIP awards recorded (several grants of restricted stock units / performance units, e.g., 8,281 and 16,561 unit grants). Footnotes indicate certain performance awards were earned above target (e.g., 145.58% and 161.10%) and delivery net of withholding was completed 01/30/2026 (F11, F9).
• Holdings reported after transactions: total restricted stock units beneficially owned = 23,942.739 (F4); total performance units beneficially owned = 117,408.191 (F6).
• Transaction codes: M = exercise/conversion of derivative; F = shares withheld for tax withholding; A = award/grant. Tax-withholding by share surrender indicates a cashless-style settlement for the tax obligation (not an open-market sale).

Context

• These transactions are primarily exercises/conversions and award deliveries (not open-market purchases or voluntary sales). The withholding of shares to cover taxes is a routine administrative step and does not necessarily indicate a change in insider sentiment.
• Performance-based awards were determined by the People & Compensation Committee (measurement periods ending 12/31/2025); shares were delivered net of withholding on 01/30/2026 per the filing footnotes.

Note: This summary is factual and based on the Form 4 filing (Accession 0001193125-26-033899). It does not attempt to infer motivations behind the transactions.