HARSHMAN RICHARD J 4
4 · PNC FINANCIAL SERVICES GROUP, INC. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
PNC Director Richard J. Harshman Receives 32-Share Award
What Happened Richard J. Harshman, a director of PNC Financial Services Group (PNC), was granted 32 derivative awards (deferred/phantom stock units) on April 1, 2026. The filing reports a per-unit value of $209.24 for a total reported value of $6,696. This transaction is an award/grant (transaction code A), not an open-market purchase or sale.
Key Details
- Transaction date: 2026-04-01; Form 4 filed: 2026-04-02 (filed the next day, within normal reporting window).
- Type/code: Award/Grant (A) — derivative securities (phantom stock units / deferred stock units).
- Amount: 32 units × $209.24 = $6,696 (reported).
- Shares owned after transaction: Not specified in this filing.
- Footnotes: F1–F4 explain these are phantom stock units/DSUs that are economically equivalent to one share each, are generally settled in cash (or in limited cases one share at distribution), and may include dividend equivalents from deferred-compensation arrangements.
- No 10b5-1 plan, tax-withholding sale, or late-filing indication is noted in the provided details.
Context These awards are a form of deferred director compensation tied to PNC's stock value and typically vest or are paid out later in cash or shares (e.g., at retirement). Such grants are routine for directors and do not by themselves indicate whether the director is bullish or bearish on the company's stock.
Insider Transaction Report
- Award
Phantom Stock Unit
[F1][F2]2026-04-01$209.24/sh+32$6,696→ 2,181 total(indirect: Deferred Compensation Plan)→ $5 Par Common Stock (32 underlying)
- 8,847
Deferred Stock Unit
[F3][F4]→ $5 Par Common Stock (8,847 underlying)
Footnotes (4)
- [F1]One phantom stock unit is the economic equivalent of one share of The PNC Financial Services Group, Inc. ("PNC") common stock. Phantom stock units will be settled in cash upon distribution to the reporting person and generally do not expire.
- [F2]Includes phantom stock units acquired by the reporting person as dividend equivalents under the PNC Deferred Compensation Plan in transactions exempt from reporting that occurred after the date of the reporting person's most recent filing on Form 4.
- [F3]Deferred stock units ("DSUs") granted pursuant to the PNC Directors Deferred Stock Unit Program (the "Program") under PNC's 2016 Incentive Award Plan. Each DSU represents the right to receive at retirement one share of PNC common stock, or in limited circumstances cash equal to the fair market value of one share of PNC common stock on the payment determination date, pursuant to the terms of the Program.
- [F4]Includes DSUs acquired by the reporting person as dividend equivalents under the Program in transactions exempt from reporting that occurred after the date of the reporting person's most recent filing on Form 4.