Vallejo Alejandro T 4

What Happened
Alejandro T. Vallejo, EVP and Chief People Officer of PG&E Corp (PCG), was awarded 439.96 units of phantom stock on April 23, 2026. The filing values the award at $16.83 per unit for a total economic value of $7,405. This was an acquisition of a derivative award (phantom stock), not an open-market purchase of common shares.

Key Details

• Transaction date: 2026-04-23; transaction type: Award/Grant (code A).
• Units granted: 439.96 phantom stock units at $16.83 per unit; total value reported $7,405 (derivative).
• Holdings after transaction: total holdings following the transaction are not specified in the Form 4 filing.
• Footnotes:
  • F1 — Each phantom stock unit equals the economic value of one common share and is payable in cash after the officer leaves service; units may be transferred to an alternative investment account subject to plan terms.
  • F2 — These phantom units were acquired via (1) deferral under the SRSP and (2) credits under the DC-ESRP; those credits are exempt under Rule 16b-3(d).
  • F3 — The total includes 93.64 units credited on 4/15/2026 from dividend reinvestment under the plans.
• Filing/timeliness: Form 4 was filed on 2026-04-27 for a 4/23/2026 transaction; this meets the two-business-day filing deadline (timely).

Context
Phantom stock is a deferred, cash-settled compensation vehicle that tracks the economic value of company shares; it does not involve issuance or sale of actual common stock and therefore does not directly change share count or signal an insider buying/selling common stock. This award reflects routine executive compensation under PG&E’s supplemental retirement plans rather than an open-market investment.