Cheshire Marjorie Rodgers 4
4 · PNC FINANCIAL SERVICES GROUP, INC. · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
PNC Director Marjorie Rodgers Cheshire Receives 844 DSU Award
What Happened
Marjorie Rodgers Cheshire, a director of The PNC Financial Services Group, Inc. (PNC), received a grant of 844 deferred stock units (DSUs) on April 22, 2026. The Form 4 reports the award as a derivative grant (code A) at $0.00 per unit (total reported value $0), reflecting a compensation award rather than an open-market purchase or sale.
Key Details
- Transaction date: 2026-04-22; Form filed: 2026-04-24 (filed within two business days of the transaction).
- Transaction type: Award/Grant (code A) — 844 DSUs granted at $0.00 (derivative).
- Shares owned after transaction: Not specified in the provided filing.
- Footnotes of note:
- F1: DSUs under the Directors Deferred Stock Unit Program convert to one share of PNC common stock at retirement (or in limited cases cash equal to share value on payment date).
- F2–F5: The reporting person also holds phantom stock units and DSUs/phantom units acquired as dividend equivalents under various PNC plans; some dividend-equivalent units were acquired in transactions exempt from reporting after the last Form 4. Phantom units are cash-settled and generally do not expire.
Context
DSUs are a form of deferred compensation for directors and represent the right to receive shares (or cash in limited cases) at a later date — they are derivative awards, not immediate stock ownership or a market purchase/sale. Grants to non-employee directors are common as part of routine compensation and should be viewed as such; they do not by themselves indicate insider sentiment about the stock.
Insider Transaction Report
- Award
Deferred Stock Unit
[F1][F2]2026-04-22+844→ 12,562 total→ $5 Par Common Stock (844 underlying)
- 6,016(indirect: Deferred Compensation Plan)
Phantom Stock Unit
[F3][F4]→ $5 Par Common Stock (6,016 underlying) - 4,220(indirect: Deferred Stock Unit Plan)
Phantom Stock Unit
[F3][F5]→ $5 Par Common Stock (4,220 underlying)
Footnotes (5)
- [F1]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 The PNC Financial Services Group, Inc. ("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.
- [F2]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.
- [F3]One phantom stock unit is the economic equivalent of one share of PNC common stock. Phantom stock units will be settled in cash upon distribution to the reporting person and generally do not expire.
- [F4]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.
- [F5]Includes phantom stock units acquired by the reporting person as dividend equivalents under the PNC Outside Directors Deferred Stock Unit Plan in transactions exempt from reporting that occurred after the date of the reporting person's most recent filing on Form 4.