Bonenberger David J 4
4 · PPL Corp · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
PPL (PPL) EVP David Bonenberger Exercises Options and Receives Awards
What Happened
- David J. Bonenberger, EVP & COO—Utilities at PPL Corp, exercised stock-based derivatives and received performance/RSU awards tied to multi-year plans. On Jan 29–30, 2026 he exercised a total of 26,381.466 derivative shares (7,567; 16,746; 2,068.466) at prices around $36.25–$36.31, paying about $957,787 in exercise consideration. The company withheld 8,216 shares to cover taxes/exercise costs (cashless withholding), valued at about $298,269, leaving a net issuance of roughly 18,165.466 shares to him. He also was credited performance-based awards and RSUs (multiple grants recorded as $0 exercise price).
Key Details
- Transaction dates/prices: Jan 29, 2026 (exercises at $36.31); Jan 30, 2026 (exercises at $36.25).
- Exercise totals: 26,381.466 shares acquired for $957,787; 8,216 shares withheld for taxes ($298,269).
- Grants/awards: Multiple performance awards/RSUs were granted/converted (entries at $0). Footnotes show performance awards were earned at elevated payout levels (e.g., 161.10% and 145.58%) and some RSUs vest on future dates.
- Shares held after filing: Disclosed restricted stock units = 38,248.564 and performance units = 81,438.231 (as of 02/02/2026; see footnotes F5 & F7).
- Withholding/tax treatment: Share withholding used to satisfy tax liabilities (code F / F2), i.e., cashless withholding rather than open-market sale.
- Timeliness: Filing covers period of 01/29/2026 and was filed 02/02/2026 (no late filing flag indicated).
Context
- This was primarily a routine compensation/vesting and exercise event (not an open-market purchase or a discretionary sale). The use of share withholding to cover taxes is common for option/RSU exercises and reduces the outstanding shares issued to the insider.
- Performance awards were determined by the People and Compensation Committee based on multi-year company performance (see F10, F11) and some RSUs follow multi-year vesting schedules (see F4, F12). These are compensation-related transactions and do not necessarily signal a trading view by the insider.
Insider Transaction Report
Form 4
PPL CorpPPL
Bonenberger David J
EVP & COO-Utilities
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-01-29$36.31/sh+7,567$274,758→ 56,741.906 total - Tax Payment
Common Stock
[F2][F1]2026-01-29$36.31/sh−2,178$79,083→ 54,563.906 total - Exercise/Conversion
Common Stock
[F1]2026-01-29$36.31/sh+16,746$608,047→ 71,309.906 total - Tax Payment
Common Stock
[F2][F1]2026-01-29$36.31/sh−5,132$186,343→ 66,177.906 total - Exercise/Conversion
Common Stock
[F1]2026-01-30$36.25/sh+2,068.466$74,982→ 68,246.372 total - Tax Payment
Common Stock
[F2][F1]2026-01-30$36.25/sh−906$32,843→ 67,340.372 total - Award
Stock Unit (SIP)
[F3][F4][F5]2026-01-29+6,355→ 6,355 total→ Common Stock (6,355 underlying) - Award
Performance Stock Unit (SIP)
[F6][F7]2026-01-29+12,709→ 12,709 total→ Common Stock (12,709 underlying) - Award
Performance Stock Unit (SIP)
[F8][F7]2026-01-29+6,355→ 6,355 total→ Common Stock (6,355 underlying) - Award
Performance Stock Unit (SIP)
[F9][F7]2026-01-29+6,355→ 6,355 total→ Common Stock (6,355 underlying) - Exercise/Conversion
Performance Stock Unit (SIP)
[F10][F1][F7]2026-01-29−16,746→ 0 total→ Common Stock (16,746 underlying) - Exercise/Conversion
Performance Stock Unit (SIP)
[F11][F1][F7]2026-01-29−7,567→ 0 total→ Common Stock (7,567 underlying) - Exercise/Conversion
Stock Unit (SIP)
[F3][F1][F12]2026-01-30−2,068.466→ 4,136.932 total→ Common Stock (2,068.466 underlying)
Holdings
- 5,073.336(indirect: By Trust)
Common Stock
[F1] - 100(indirect: By Spouse)
Common Stock
Footnotes (12)
- [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), 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]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 6,355 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 38,248.564. This total includes the 01/25/2024 grant of 5,855.744 restricted stock units, two-thirds of the 01/30/2025 grant, which totals 4,136.932, the 03/31/2025 grant of 21,256.142 restricted stock units, the 04/25/2025 grant of 644.746 restricted stock units, 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 6,355 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 81,438.231. This total includes the 01/20/2023 grant of 5,197.733 performance units, the three 01/25/2024 grants of (a) 5,855.744, (b) 5,855.744, and (c) 11,711.488 performance units, the three 01/30/2025 grants of (a) 6,205.398, (b) 6,205.398, and (c) 12,409.766 performance units, the three 04/25/2025 grants of (a) 644.746, (b) 644.746, and (c) 1,288.468 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) 6,355, (b) 6,355, and (c) 12,709 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 David J. Bonenberger|2026-02-02