Feldstein Andrew T 4

What Happened

• Andrew T. Feldstein, a director of PNC Financial Services Group (PNC), received a grant/award of 185 derivative units (phantom stock/DSUs) on 2026-04-01.
• The units are reported at $209.24 each, for a total reported value of $38,709. This is an award (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-01; Form filed: 2026-04-02 (timely).
• Price/value per unit: $209.24; total value: $38,709.
• Transaction type: A = Grant/Award of derivative units (phantom stock / deferred stock units).
• Shares owned after transaction: Not specified in this filing.
• Footnotes of note:
  • F1: One phantom stock unit = economic equivalent of one share; settled in cash when distributed.
  • F4: DSUs are generally payable in stock at retirement or, in limited cases, cash equal to fair market value.
  • F2/F3/F5: Some units include dividend equivalents credited in exempt transactions after the prior Form 4.
• No indication this filing was late or subject to special sale plans (e.g., 10b5-1).

Context

• This award appears to be routine director compensation (deferred/phantom stock units), which are generally used to compensate and retain directors rather than signal a direct buy/sell decision. Derivative awards like phantom units are typically settled in cash or converted to shares at a later date and differ from an immediate stock purchase.