PPL Corp — Director's Dealing 2012

May 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PPL Corp (PPL)
CIK: 0000922224
Period of Report: 2012-03-05

Reporting Person: Dudkin Gregory N (President of a PPL Subsidiary)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-05	Performance Stock Unit	$	A	720	Acquired		Common Stock (720)	Direct
2012-04-02	Performance Stock Unit	$	A	9.191	Acquired		Common Stock (9.191)	Direct
2012-03-05	Employee Stock Options (Right to Buy)	$28.56	A	4850	Acquired	2022-03-04	Common Stock (4850)	Direct

Footnotes

F1: Represents an award made on March 5, 2012 by the Compensation, Governance and Nominating Committee of the Board of Directors under the Company's 2012 Stock Incentive Plan ("Plan"), subject to approval of the Plan by the Company's shareowners. Shareowners approved the Plan on May 16, 2012.

F2: No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan, all, some or none of the underlying securities will be earned depending on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2014.

F3: Total includes the reinvestment of dividends.

F4: Represents dividend equivalent payments credited to the Performance Units, calculated using the per share value of PPL Common Stock on the date of grant.

F5: The options vest in three annual installments beginning on 03/05/2013.