Bergstein Joseph P Jr 4
4 · PPL Corp · Filed Feb 2, 2026
Research Summary
AI-generated summary of this filing
PPL CFO Joseph P. Bergstein Exercises Options, Receives Awards
What Happened
- Joseph P. Bergstein, EVP and Chief Financial Officer of PPL Corp (PPL), exercised stock option/derivative awards and received performance- and restricted-stock unit awards tied to multi-year performance. He exercised a total of 68, (plus fractional) option-derived share amounts that generated approximately $2,507,991 in underlying stock value, and had shares withheld to cover tax obligations.
- Key exercised items: 20,293 shares @ $36.31 (value $736,839); 44,910 shares @ $36.31 (value $1,630,682); and 3,875.024 shares @ $36.25 (value $140,470). To satisfy tax withholding, 6,879; 19,658; and 1,697 shares were withheld (total withheld = 28,234 shares; cash value withheld ≈ $1,025,074).
- He also received awards under the company’s Stock Incentive Plan (SIP): multiple grants (11,123; 22,245; 11,123; 11,123 shares shown) that reflect performance- and time-based restricted stock/performance units.
Key Details
- Transaction dates and prices:
- 01/29/2026: Exercised 20,293 @ $36.31 and 44,910 @ $36.31; awards granted 01/29/2026.
- 01/30/2026: Exercised 3,875.024 @ $36.25; related vesting/settlement completed 01/30/2026.
- Tax withholding: 28,234 shares were withheld by the company to cover taxes (reported as dispositions under code F).
- Award details (footnotes):
- Some awards were performance-based: one award earned at 161.10% (F10) and another at 145.58% (F11) based on three‑year performance periods ending 12/31/2025; final share counts were determined 01/29/2026 and net settlement completed 01/30/2026.
- One-third of a 01/30/2025 RSU grant vested on 01/30/2026 (F12); other RSUs vest in future installments (F4).
- Shares/units held after transactions:
- Total restricted stock units beneficially owned: 33,152.191 (F5).
- Total performance units beneficially owned: 162,046.725 (F7).
- Filing timeliness: Transactions dated 01/29–01/30/2026 were reported on Form 4 filed 02/02/2026 (within the typical two-business‑day filing window, so timely).
Context
- These transactions are largely compensation-related: the filings show option/derivative exercises and the conversion/settlement of performance and restricted stock units rather than open-market buys or sales. The share withholdings were routine tax-withholding/settlement actions (code F), not market sales to raise cash.
- For retail investors: such exercises and awards are common for executives as part of pay and long-term incentive plans; they do not necessarily indicate the insider is buying or selling shares for investment reasons.
Insider Transaction Report
Form 4
PPL CorpPPL
Bergstein Joseph P Jr
EVP and CFO
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-01-29$36.31/sh+20,293$736,839→ 182,070.549 total - Tax Payment
Common Stock
[F2][F1]2026-01-29$36.31/sh−6,879$249,776→ 175,191.549 total - Exercise/Conversion
Common Stock
[F1]2026-01-29$36.31/sh+44,910$1,630,682→ 220,101.549 total - Tax Payment
Common Stock
[F2][F1]2026-01-29$36.31/sh−19,658$713,782→ 200,443.549 total - Exercise/Conversion
Common Stock
[F1]2026-01-30$36.25/sh+3,875.024$140,470→ 204,318.573 total - Tax Payment
Common Stock
[F2][F1]2026-01-30$36.25/sh−1,697$61,516→ 202,621.573 total - Award
Stock Unit (SIP)
[F3][F4][F5]2026-01-29+11,123→ 11,123 total→ Common Stock (11,123 underlying) - Award
Performance Stock Unit (SIP)
[F6][F7]2026-01-29+22,245→ 22,245 total→ Common Stock (22,245 underlying) - Award
Performance Stock Unit (SIP)
[F8][F7]2026-01-29+11,123→ 11,123 total→ Common Stock (11,123 underlying) - Award
Performance Stock Unit (SIP)
[F9][F7]2026-01-29+11,123→ 11,123 total→ Common Stock (11,123 underlying) - Exercise/Conversion
Performance Stock Unit (SIP)
[F10][F1][F7]2026-01-29−44,910→ 0 total→ Common Stock (44,910 underlying) - Exercise/Conversion
Performance Stock Unit (SIP)
[F11][F1][F7]2026-01-29−20,293→ 0 total→ Common Stock (20,293 underlying) - Exercise/Conversion
Stock Unit (SIP)
[F3][F1][F12]2026-01-30−3,875.024→ 7,751.077 total→ Common Stock (3,875.024 underlying)
Holdings
- 395.195(indirect: By Trust)
Common Stock
[F1] - 62.527(indirect: By Children)
Common Stock
[F1]
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 11,123 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 33,152.191. This total includes the 01/25/2024 grant of 14,278.114 restricted stock units, two-thirds of the 01/30/2025 grant, which totals 7,751.077, 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 11,123 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 162,046.725. This total includes the 01/20/2023 grant of 13,938.871 performance units, the three 01/25/2024 grants of (a) 14,278.114, (b) 14,278.114, and (c) 28,556.224 performance units, the three 01/30/2025 grants of (a) 11,626.101, (b) 11,626.101, and (c) 23,252.2 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) 11,123, (b) 11,123, and (c) 22,245 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 Joseph P. Bergstein, Jr.|2026-02-02