Beers Marlene C 4

What Happened

• Marlene C. Beers, Vice President and Controller of PPL (PPL), exercised stock-settled derivative awards and received new awards under the company's Stock Incentive Plan. She exercised a total of 10,767.214 shares (3,154 @ $36.31; 6,977 @ $36.31; 636.214 @ $36.25) for a combined exercise-related value of about $390,920.
• To satisfy tax withholding obligations related to these transactions, the company withheld 3,205 shares (1,013; 2,008; 184) with an aggregate withholding value of approximately $116,362.
• In addition, Beers was granted performance and restricted stock units (awards recorded at $0.00) on 01/29/2026 — the filing shows performance/RSU grants (totaling several thousand units) delivered or credited per plan terms and committee determinations.

Key Details

• Transaction dates and prices:
  • 01/29/2026: Exercises — 3,154 shares @ $36.31 ($114,522) and 6,977 shares @ $36.31 ($253,335). Grants (awards) recorded on 01/29/2026 at $0.00.
  • 01/30/2026: Exercise — 636.214 shares @ $36.25 ($23,063). Withholding dispositions on the same dates: 1,013; 2,008; and 184 shares (values ~$36,782; $72,910; $6,670 respectively).
• Shares withheld for taxes: 3,205 shares (net-share settlement) — routine tax withholding under the Stock Incentive Plan (F1).
• Shares/units reported beneficially owned after transactions:
  • Restricted stock units beneficially owned: 5,474.183 (includes prior grants and dividend equivalents) (F4).
  • Performance units beneficially owned: 26,605.395 (includes multiple grants and dividend equivalents) (F6).
• Notable footnotes:
  • Some performance awards were earned at above-target levels (e.g., F11/F9 describe earned percentages tied to ESG and peer-group metrics; delivery net of withholding completed 01/30/2026).
  • One-third of a 01/30/2025 RSU grant vested on 01/30/2026 (F12); other grants vest in future years (F3).
• Filing timeliness: Report filed 02/02/2026 for transactions dated 01/29–01/30/2026; filing is presented as timely (no lateness flag).

Context

• These were exercises of plan awards and the grant/vesting of RSUs/performance units rather than open-market purchases or sales. The disposals shown are tax-withholding (F transactions), a common net-share settlement practice that does not necessarily signal trading intent.
• For derivative-related items: “M” indicates exercise/conversion of derivative awards; “A” indicates awards/grants; “F” indicates shares withheld to pay exercise price or taxes.
• The filings show performance awards tied to multi-year metrics (ESG, peer performance, earnings growth) with amounts determined by the People and Compensation Committee; vesting/delivery schedules and earned percentages are detailed in the footnotes.