Bellar Lonnie E 4

What Happened
Lonnie E. Bellar, Executive Vice President — Engineering, Construction and Generation at PPL (PPL), had 81.449 restricted stock units (RSUs) vest on 2026-04-24. The vested units converted to 81.449 shares valued at $38.75 each (gross value ≈ $3,156). The company withheld 37 shares to cover tax withholding (disposed at $38.75, value ≈ $1,434), leaving a net delivery of 44.449 shares (net value ≈ $1,722).

Key Details

• Transaction date: 2026-04-24; filing date: 2026-04-28 (timely Form 4 filing).
• Conversion/derivative code M: 81.449 units vested/converted to common shares (reported as acquired at $38.75, $3,156).
• Tax withholding code F: 37 shares withheld by the company to satisfy tax obligations (disposed at $38.75, $1,434).
• Net shares delivered to insider: 44.449 shares (≈ $1,722).
• Shares owned after transaction: not disclosed in this Form 4.
• Footnotes: F1 = company withheld shares for taxes; F3 = this was the first installment of a 245.380 RSU grant (remaining 81.449 RSUs vest 04/25/2027 and 82.482 RSUs vest 04/25/2028).

Context
This was an RSU vesting event (award conversion), not an open-market buy or sale. The withholding of shares to cover taxes is routine and should not be read as a separate sale decision. The filing shows conversion of derivative units to shares and the related tax withholding; no cashless market sale of the vested shares was reported.