HESSE DANIEL 4
4 · PNC FINANCIAL SERVICES GROUP, INC. · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
PNC Director Daniel Hesse Receives 844 Deferred Stock Units
What Happened
Daniel Hesse, 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 (transaction code A) at a reported price of $0.00 (typical for deferred-unit awards); no cash changed hands at grant. The Form 4 was filed April 24, 2026.
Key Details
- Transaction date: 2026-04-22; Form 4 filed: 2026-04-24 (appears timely).
- Transaction type/code: Award/Grant (A) — 844 deferred stock units reported as derivative securities.
- Reported price: $0.00 (common for deferred units; not a market purchase).
- Shares owned after transaction: Not specified in the information provided in this summary.
- Footnotes:
- F1: These are Deferred Stock Units under PNC’s Directors Deferred Stock Unit Program — each DSU generally converts to one share at retirement (or, in limited cases, cash equal to the share’s fair market value).
- F2: Phantom stock units are the economic equivalent of one PNC share and are settled in cash upon distribution.
Context
Deferred stock units and phantom stock units are a form of director compensation that pay out later in stock or cash and do not represent an immediate purchase or sale of shares. Such awards are routine for non-employee directors and should be viewed as compensation rather than a direct bullish/bearish insider trade.
Insider Transaction Report
- Award
Deferred Stock Unit
[F1]2026-04-22+844→ 12,562 total→ $5 Par Common Stock (844 underlying)
- 4,868(indirect: Deferred Compensation Plan)
Phantom Stock Unit
[F2]→ $5 Par Common Stock (4,868 underlying) - 2,116(indirect: Deferred Stock Unit Plan)
Phantom Stock Unit
[F2]→ $5 Par Common Stock (2,116 underlying)
Footnotes (2)
- [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]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.