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PPL Corp·4

Feb 2, 5:31 PM ET

Sorgi Vincent 4

4 · PPL Corp · Filed Feb 2, 2026

Research Summary

AI-generated summary of this filing

Updated

PPL (PPL) CEO Vincent Sorgi Exercises Options and Receives Awards

What Happened

  • Vincent Sorgi, President and CEO of PPL Corp (PPL), exercised stock-based derivatives and received performance-based awards. On 01/29–01/30/2026 he exercised/options-converted a total of 227,608.742 shares (66,087; 146,265; 15,256.742) at exercise prices of $36.31 and $36.25, representing gross proceeds/costs of about $8.26M. The company withheld 99,626 shares to cover taxes (valued at about $3.62M).
  • In addition, Sorgi was granted and/or converted a mix of performance units and restricted stock units (RSUs): three performance grants determined on 01/29/2026 (42,144; 42,144; 84,288) and an RSU grant of 42,144. Some performance awards were earned based on multi-year performance (see footnotes) and converted to shares (reported at $0 exercise price).

Key Details

  • Dates & prices: primary exercise/conversion dates 01/29/2026 and 01/30/2026. Exercised portions: 66,087 & 146,265 shares @ $36.31 and 15,256.742 shares @ $36.25. Gross value of exercised shares ≈ $8.26M; tax-withheld share value ≈ $3.62M.
  • Shares withheld for taxes (transaction code F) were used to satisfy tax withholding obligations under the Stock Incentive Plan (cashless/net settlement).
  • Performance awards: committee determined earned percentages on 01/29/2026 (F10/F11). F10: one award earned at 161.10%; F11: another at 145.58%. Net delivery/calculation of underlying shares (after withholding) completed 01/30/2026.
  • Vesting note: one RSU tranche vested 01/30/2026 (one‑third of the 01/30/2025 grant) with remaining tranches in 2027–2028 (F12). Total RSUs and performance units beneficially owned as of 02/02/2026: ~126,369 RSUs and ~611,896 performance units (per footnotes F5 & F7).
  • Filing: Form 4 filed 02/02/2026 for report period 01/29/2026. This filing appears timely (within the Form 4 two-business-day window).

Context

  • These transactions combine option/derivative exercises (M) and award/grant conversions (A). The withholding entries (F) reflect the company retaining shares to pay required taxes — a routine, non‑market-sale settlement method (cashless/net share settlement).
  • Performance-based conversions (reported at $0 exercise price) reflect awards earned per the company’s Stock Incentive Plan; they do not imply an open-market purchase or sale by the insider.
  • This report is informational about insider compensation and settlement activity; it is factual and not an indication of buying/selling intent beyond the mechanics described.

Insider Transaction Report

Form 4
Period: 2026-01-29
PPL CorpPPL
Sorgi Vincent
President and CEO
Transactions
  • Exercise/Conversion

    Common Stock

    [F2]
    2026-01-29$36.31/sh+66,087$2,399,619→ 544,924.522 total
  • Tax Payment

    Common Stock

    [F1][F2]
    2026-01-29$36.31/sh−28,927$1,050,339→ 515,997.522 total
  • Exercise/Conversion

    Common Stock

    [F2]
    2026-01-29$36.31/sh+146,265$5,310,882→ 662,262.522 total
  • Tax Payment

    Common Stock

    [F1][F2]
    2026-01-29$36.31/sh−64,021$2,324,603→ 598,241.522 total
  • Exercise/Conversion

    Common Stock

    [F2]
    2026-01-30$36.25/sh+15,256.742$553,057→ 613,498.264 total
  • Tax Payment

    Common Stock

    [F1][F2]
    2026-01-30$36.25/sh−6,678$242,078→ 606,820.264 total
  • Award

    Stock Unit (SIP)

    [F3][F4][F5]
    2026-01-29+42,144→ 42,144 total
    → Common Stock (42,144 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F6][F7]
    2026-01-29+84,288→ 84,288 total
    → Common Stock (84,288 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F8][F7]
    2026-01-29+42,144→ 42,144 total
    → Common Stock (42,144 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F9][F7]
    2026-01-29+42,144→ 42,144 total
    → Common Stock (42,144 underlying)
  • Exercise/Conversion

    Performance Stock Unit (SIP)

    [F10][F2][F7]
    2026-01-29−146,265→ 0 total
    → Common Stock (146,265 underlying)
  • Exercise/Conversion

    Performance Stock Unit (SIP)

    [F11][F2][F7]
    2026-01-29−66,087→ 0 total
    → Common Stock (66,087 underlying)
  • Exercise/Conversion

    Stock Unit (SIP)

    [F3][F2][F12]
    2026-01-30−15,256.742→ 30,514.519 total
    → Common Stock (15,256.742 underlying)
Holdings

  • Common Stock

    [F2]
    (indirect: By Trust)
    178.31
Footnotes (12)
  • [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]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 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.
  • [F12]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]Total includes the reinvestment of dividends.
  • [F3]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.
  • [F4]The total grant of 42,144 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028, and 01/29/2029.
  • [F5]As of 02/02/2026, total restricted stock units beneficially owned is 126,368.726. This total includes the 01/25/2024 grant of 53,710.207 restricted stock units, two-thirds of the 1/30/2025 grant, which totals 30,514.519, 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 01/29/2026 grant of 42,144 restricted stock units.
  • [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 611,896.290. This total includes the 01/20/2023 grant of 45,395.453 performance units, the three 01/25/2024 grants of (a) 53,710.207, (b) 53,710.207, and (c) 107,420.413 performance units, the three 01/30/2025 grants of (a) 45,771.261, (b) 45,771.261, and (c) 91,541.488 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) 42,144, (b) 42,144, and (c) 84,288 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 Vincent Sorgi|2026-02-02

Documents

1 file
  • 4
    ownership.xmlPrimary

    4