Dachille Douglas A. 4

What Happened
Douglas A. Dachille, a director of PNC Financial Services Group (PNC), was granted 51 derivative units representing the economic equivalent of 51 shares on July 1, 2026. The reported per-unit value is $251.62, for a total reported value of $12,833. This transaction is an award (derivative), not an open-market purchase.

Key Details

• Transaction date: July 1, 2026; Report filed: July 6, 2026 (filed after the typical 2-business-day Form 4 window).
• Type: Award/Grant of derivative units (code A) — 51 units @ $251.62 = $12,833 (reported as derivative).
• Shares owned after transaction: Not specified in the filing.
• Footnotes summary:
  • Phantom stock units are economic equivalents of PNC common shares and are generally settled in cash on distribution (they do not create immediate share ownership or voting rights).
  • The filing references deferred stock/phantom unit programs and dividend-equivalent credits under PNC’s deferred compensation and directors’ DSU program.
• Timeliness: Filing appears late (filed 5 calendar days after the transaction); late Form 4s should be noted but do not by themselves indicate insider intent.

Context
Phantom stock units or deferred stock units (DSUs) are commonly used for director compensation and typically convert to cash (or, in limited cases, shares) at a later date — they differ from an outright stock purchase. Because this is a compensation award rather than a purchase or sale, it is generally considered routine compensation activity rather than a direct buy/sell signal about the director’s personal view of the company.