CAFARO DEBRA A 4

What Happened
Debra A. Cafaro, a director of PNC Financial Services Group (PNC), was granted 844 deferred stock units (DSUs) on April 22, 2026. The Form 4 reports the award as 844 units at $0.00 (derivative), meaning no cash changed hands at grant — the units represent a future right to receive PNC common stock or, in limited cases, cash.

Key Details

• Transaction date: 2026-04-22; Filing date: 2026-04-24 (filed within the typical 2-business-day Form 4 window).
• Transaction type: Award/Grant (code A). Reported amount: 844 units; reported price: $0.00; reported immediate value: $0 (derivative award).
• Shares owned after transaction: not specified in the provided summary—see the full Form 4 for post-transaction holdings.
• Footnotes: F1 = Units are Deferred Stock Units under PNC’s Directors Deferred Stock Unit Program (each DSU generally converts to one share at retirement or, in limited circumstances, cash). F2 = Phantom stock units are the economic equivalent of one share and are ordinarily settled in cash.
• No indication in this filing of a 10b5-1 plan, tax withholding sale, or late filing flag.

Context
DSU grants to directors are a common form of board compensation and are not open-market purchases or sales; they provide future equity or cash tied to company stock but do not represent immediate share ownership. Because this is an awarded derivative unit, it is neutral as a near-term trading signal — it reflects routine director compensation rather than an express buy/sell decision.