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PPL Corp·4

Feb 2, 5:33 PM ET

Martin Christine M 4

4 · PPL Corp · Filed Feb 2, 2026

Research Summary

AI-generated summary of this filing

Updated

PPL (PPL) President Christine M. Martin Exercises Options, Receives Awards

What Happened

  • Christine M. Martin, President of a PPL subsidiary, exercised stock-derived awards and received new restricted/performance award grants. On 01/29–01/30/2026 she exercised a total of 9,932.895 shares (codes M) at prices of $36.31 and $36.25, with a gross cash value of about $360,622. To satisfy withholding for taxes/exercise costs (code F), the company withheld 2,955 shares, valued about $107,284. Net shares added from the exercises were ~6,978 shares. Separately, on 01/29/2026 she was granted a series of awards (code A) totaling 21,332 restricted stock units and performance units (various grant types/vesting rules).

Key Details

  • Transaction dates & prices:
    • Exercises (M): 01/29/2026 — 2,876 shares @ $36.31 ($104,428) and 6,365 shares @ $36.31 ($231,113); 01/30/2026 — 691.895 shares @ $36.25 ($25,081).
    • Withholding (F): 01/29/2026 — 943 shares @ $36.31 ($34,240) and 1,814 shares @ $36.31 ($65,866); 01/30/2026 — 198 shares @ $36.25 ($7,178).
    • Grants (A) on 01/29/2026: total 21,332 units (combination of RSUs and performance units).
  • Shares owned after transaction (reported totals):
    • Restricted stock units: 18,380.046 (per footnote F5).
    • Performance units: 29,345.116 (per footnote F8).
  • Notable footnotes:
    • F2: shares were withheld at the officer’s request to pay taxes.
    • F11 / F12: some performance awards were earned above target (161.10% and 145.58% for two performance grants) with the People & Compensation Committee determining earned payouts on 01/29/2026 and net-delivery calculated 01/30/2026.
    • F6 / F4 / F13: many RSUs vest over multi-year schedules (some portions vested 01/30/2026; others vest in 2027–2029).
    • F1: totals include reinvested dividend equivalents on grants.
  • Filing: Form 4 filed 02/02/2026 for transactions occurring 01/29–01/30/2026 (no late-filing indication in the report).

Context

  • These were not open-market purchases; Martin exercised vested/earned derivative awards and received new equity awards. The withholding transactions (F) are routine — company shares withheld to cover tax obligations or exercise costs (a common cashless/withholding settlement method), not open-market sales.
  • Some granted units are performance-based and contingent on future metrics or multi-year vesting (see F7–F9 for awards tied to multi-year performance periods ending 12/31/2028). The People & Compensation Committee determines final earned amounts for those awards in future years.

Insider Transaction Report

Form 4
Period: 2026-01-29
PPL CorpPPL
Martin Christine M
President of a PPL Subsidiary
Transactions
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-01-29$36.31/sh+2,876$104,428→ 40,492.782 total
  • Tax Payment

    Common Stock

    [F2][F1]
    2026-01-29$36.31/sh−943$34,240→ 39,549.782 total
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-01-29$36.31/sh+6,365$231,113→ 45,914.782 total
  • Tax Payment

    Common Stock

    [F2][F1]
    2026-01-29$36.31/sh−1,814$65,866→ 44,100.782 total
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-01-30$36.25/sh+691.895$25,081→ 44,792.677 total
  • Tax Payment

    Common Stock

    [F2][F1]
    2026-01-30$36.25/sh−198$7,178→ 44,594.677 total
  • Award

    Stock Unit (SIP)

    [F3][F4][F5]
    2026-01-29+2,063→ 2,063 total
    → Common Stock (2,063 underlying)
  • Award

    Stock Unit (SIP)

    [F3][F6][F5]
    2026-01-29+11,017→ 11,017 total
    → Common Stock (11,017 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F7][F8]
    2026-01-29+4,126→ 4,126 total
    → Common Stock (4,126 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F9][F8]
    2026-01-29+2,063→ 2,063 total
    → Common Stock (2,063 underlying)
  • Award

    Performance Stock Unit (SIP)

    [F10][F8]
    2026-01-29+2,063→ 2,063 total
    → Common Stock (2,063 underlying)
  • Exercise/Conversion

    Performance Stock Unit (SIP)

    [F11][F1][F8]
    2026-01-29−6,365→ 0 total
    → Common Stock (6,365 underlying)
  • Exercise/Conversion

    Performance Stock Unit (SIP)

    [F12][F1][F8]
    2026-01-29−2,876→ 0 total
    → Common Stock (2,876 underlying)
  • Exercise/Conversion

    Stock Unit (SIP)

    [F3][F1][F13]
    2026-01-30−691.895→ 1,384.821 total
    → Common Stock (691.895 underlying)
Holdings

  • Common Stock

    [F1]
    (indirect: By Trust)
    245.084
Footnotes (13)
  • [F1]Total includes the reinvestment of dividends.
  • [F10]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.
  • [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 (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.
  • [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 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.
  • [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]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).
  • [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 2,063 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 18,380.046. This total includes the 09/01/2023 grant of 1,212 restricted stock units, the 01/25/2024 grant of 2,703.225 restricted stock units, two-thirds of the 1/30/2025 grant, which totals 1,384.821, 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) 2,063 and (b) 11,017 restricted stock units.
  • [F6]The total grant of 11,017 restricted stock units will vest in three equal installments on 01/29/2027, 01/29/2028 amd 01/29/2029.
  • [F7]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.
  • [F8]As of 02/02/2026, total performance units beneficially owned is 29,345.116. This total includes the 01/20/2023 grant of 1,975.449 performance units, the three 01/25/2024 grants of (a) 2,703.225, (b) 2,703.225, and (c) 5,405.385 performance units, the three 01/30/2025 grants of (a) 2,076.716, (b) 2,076.716, and (c) 4,152.4 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 01/29/2026 grants of (a) 2,063, (b) 2,063, and (c) 4,126 performance units.
  • [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 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.
Signature
/s/ W. Eric Marr, as Attorney-In-Fact for Christine M. Martin|2026-02-02

Documents

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    ownership.xmlPrimary

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