PPL Corp — Director's Dealing 2023

Jan 25, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PPL Corp (PPL)
CIK: 0000922224
Period of Report: 2023-01-20

Reporting Person: Sorgi Vincent (President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-23	Common Stock	M	10747.266	$29.32	Acquired	122209.467	Direct
2023-01-23	Common Stock	F	3289	$29.32	Disposed	118920.467	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-20	Stock Unit (SIP)	$	A	40996	Acquired		Common Stock (40996)	Direct
2023-01-20	Performance Stock Unit (SIP)	$	A	81992	Acquired		Common Stock (81992)	Direct
2023-01-20	Performance Stock Unit (SIP)	$	A	40996	Acquired		Common Stock (40996)	Direct
2023-01-20	Performance Stock Unit (SIP)	$	A	40996	Acquired		Common Stock (40996)	Direct
2023-01-20	Performance Stock Unit (SIP)	$	J	21494.53	Disposed		Common Stock (21494.53)	Direct
2023-01-20	Performance Stock Unit (SIP)	$	J	27896.526	Disposed		Common Stock (27896.526)	Direct
2023-01-23	Stock Unit (SIP)	$0.00	M	10747.266	Disposed		Common Stock (10747.266)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	161.066	Indirect

Footnotes

F1: Shares withheld by the company at the request of the executive officer to pay taxes due following expiration of the applicable restriction period, under the terms of the Stock Incentive Plan (SIP).

F2: Total includes the reinvestment of dividends.

F3: No conversion or exercise price applies. Under the terms of the Stock Incentive Plan (SIP), a restricted stock unit converts to a share of common stock on the applicable vesting date.

F4: The units will vest on 01/20/2026.

F5: As of 01/24/2023, total restricted stock units beneficially owned is 131,818.383. This total includes the 06/01/2020 grant of 13,947.692 restricted stock units, the 01/21/2021 grant of 37,903.039 restricted stock units, and the 01/27/2022 grant of 38,971.652 restricted stock units, plus in each case, the incremental addition of restricted stock units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such restricted stock units, and the 01/20/2023 grant of 40,996 restricted stock units.

F6: No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), 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 12/31/2025. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation Committee in January 2026.

F7: As of 01/24/2023, total performance units beneficially owned is 520,872.787. This total includes the 01/23/2020 grant of 21,494.53 performance units, the 06/01/2020 grant of 27,896.526 performance units, the 01/21/2021 grants of 75,806.077 and 75,806.077 performance units, and the three 01/27/2023 grants of (a) 77,942.273, (b) 38,971.652, and (c) 38,971.652 performance units, plus in each case, the incremental addition of performance units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such performance units, and the three 01/20/2023 grants of (a) 81,992, (b) 40,996, and (c) 40,996 performance units.

F8: No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's earnings growth over a three-year performance period ending 12/31/2025. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation Committee in January 2026.

F9: No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's achievement of certain ESG-related metrics over a three-year performance period ending 12/31/2025. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation Committee in January 2026.

F10: No conversion or exercise price or exercise or expiration date applies.

F11: The Company did not achieve the threshold percentile ranking in the applicable index to trigger share awards, therefore performance units based on TSR granted in 2020 will be paid out at 0%.

F12: The units vested on 01/23/2023.