PG&E (PCG) EVP Alejandro Vallejo Receives Phantom Stock Award

What Happened

• Alejandro T. Vallejo, EVP and Chief People Officer of PG&E Corp (PCG), received an award of 420.71 phantom shares on 2026-08-21. The award is reported as a derivative acquisition valued at $17.60 per share, totaling approximately $7,404.
• This was a grant/award (transaction code A), not an open-market purchase or sale. Phantom stock is the economic equivalent of common shares but is payable in cash upon the officer's termination of service.

Key Details

• Transaction date: 2026-08-21; Filing date (Form 4): 2026-08-24 (timely filed).
• Shares/units acquired: 420.71 phantom shares at $17.60 each; total value ≈ $7,404.
• Shares owned after the transaction: Not specified in this filing.
• Footnotes: F1 — Each phantom share equals one common share economically and will be paid in cash after the reporting person's termination; the account may be moved into an alternative investment per plan terms. F2 — These phantom shares were acquired via deferral/credits under PG&E’s SRSP and DC-ESRP and are reported as exempt under Rule 16b-3(d).
• Transaction type: Derivative award (phantom stock), not an exercise of options or an immediate stock purchase/sale.

Context

• Phantom stock grants are compensatory and paid in cash later, so they do not represent immediate share ownership or a direct buy/sell signal for the market.
• Because this is an exempt, plan-based award under Rule 16b-3(d), it’s a routine executive compensation event rather than a discretionary insider market trade.