CAFARO DEBRA A 4
4 · PNC FINANCIAL SERVICES GROUP, INC. · Filed Jul 6, 2026
Research Summary
AI-generated summary of this filing
PNC Director Debra Cafaro Receives 303 DSUs Worth $76K
What Happened
Debra A. Cafaro, a director of PNC Financial Services Group (PNC), was granted 303 derivative units (phantom/deferred stock units) on July 1, 2026. The units were valued at $251.62 each, for a total reported value of $76,241. This was an award/grant (derivative) — not an open-market purchase or sale.
Key Details
- Transaction date: July 1, 2026; Price per unit: $251.62; Total value: $76,241 (303 units).
- Transaction type: Award/Grant of derivative units (phantom stock / DSUs).
- Shares owned after transaction: not specified on the Form 4 filing.
- Filing date: July 6, 2026 (the Form 4 was filed five days after the transaction date; Form 4s are generally due within two business days).
- Relevant footnotes from the filing:
- F1: Each phantom stock unit equals the economic equivalent of one share; units are generally settled in cash.
- F2: Includes phantom units acquired as dividend equivalents under the deferred compensation plan.
- F3: DSUs granted under the Directors Deferred Stock Unit Program represent the right to receive one share at retirement (or, in limited cases, cash equal to fair market value).
- F4: Includes DSUs received as dividend equivalents after the reporting person's last Form 4.
Context
Phantom stock units and deferred stock units (DSUs) are a form of director compensation and typically settle in cash or convert to shares at a future distribution date (often at retirement). Because this was a grant of deferred/phantom units rather than a market purchase or sale, it should be viewed as routine compensation rather than a direct bullish or bearish trading signal.
Insider Transaction Report
- Award
Phantom Stock Unit
[F1][F2]2026-07-01$251.62/sh+303$76,241→ 9,640 total(indirect: Deferred Compensation Plan)→ $5 Par Common Stock (303 underlying)
- 11,056
Deferred Stock Unit
[F3][F4]→ $5 Par Common Stock (11,056 underlying)
Footnotes (4)
- [F1]One phantom stock unit is the economic equivalent of one share of The PNC Financial Services Group, Inc. ("PNC") common stock. Phantom stock units will be settled in cash upon distribution to the reporting person and generally do not expire.
- [F2]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.
- [F3]Deferred stock units ("DSUs") granted pursuant to the PNC Directors Deferred Stock Unit Program (the "Program") under PNC's equity incentive plan. Each DSU represents the right to receive at retirement one share of 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.
- [F4]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.