ALVARADO JOSEPH 4

What Happened Joseph Alvarado, a director of PNC Financial Services Group (PNC), received a grant of 844 deferred stock units (DSUs) on April 22, 2026. The grant is reported as an award (code A) with an acquisition price of $0.00 because DSUs are a deferred/derivative right to receive shares or cash later rather than an immediate purchase of stock.

Key Details

• Transaction date: 2026-04-22; Filing date: 2026-04-24 (filed within the typical 2-business-day Form 4 window).
• Grant: 844 DSUs; reported acquisition price: $0.00 (derivative award).
• Shares owned after transaction: not specified in the provided filing summary.
• Footnotes: F1 — DSUs granted under PNC’s Directors Deferred Stock Unit Program; each DSU entitles the holder at retirement to one share of PNC common stock (or in limited cases cash equal to fair market value). F2 — amount includes DSUs credited as dividend equivalents in exempt transactions after the prior Form 4.
• Transaction code: A (award/grant); derivative instrument (not a market purchase or sale).

Context DSUs are a common form of director compensation and represent a deferred right to receive stock (or cash equivalent) in the future, so this award is routine compensation rather than an immediate buy or sell. Because no cash changed hands and the units are payable later, this transaction does not itself signal an immediate bullish or bearish action by the insider.