Martin Christine M 4

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.