Bergstein Joseph P Jr 4

What Happened

• Joseph P. Bergstein Jr., Executive Vice President and Chief Financial Officer of PPL (PPL), exercised/converted equity awards that resulted in receipt of 13,938.871 shares on 2026-01-20. The exercise price was $36.91 per share, giving a gross value of $514,484.
• To satisfy tax withholding, 4,232 shares were withheld by the company at the same per-share value (total $156,203). The underlying units vested on 01/20/2026.

Key Details

• Transaction date: 2026-01-20; Form 4 filed: 2026-01-21 (timely).
• Exercise/conversion: 13,938.871 shares @ $36.91 = $514,484 (code M).
• Tax withholding: 4,232 shares withheld @ $36.91 = $156,203 (code F).
• A derivative disposition line shows the conversion of the award (13,938.871 units) with $0 cash proceeds — reflects conversion/settlement of the derivative instrument.
• Footnotes: units vested on 01/20/2026 (F3); shares withheld to pay taxes under the Stock Incentive Plan (F2); totals include reinvested dividends where applicable (F1).
• Shares owned after the transaction: not specified in the filing.

Context

• This appears to be a routine exercise/settlement of vested awards (not an open-market purchase or sale). The company withheld shares to cover tax obligations (a common cashless/net-share settlement), so the insider did not receive all 13,938.871 shares in hand.
• Such exercises/vestings are standard compensation events and do not by themselves indicate a buy or sell signal about the insider’s view of the stock.