PPL Corp — Director's Dealing 2025

Apr 29, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PPL Corp (PPL)
CIK: 0000922224
Period of Report: 2025-04-25

Reporting Person: Bonenberger David J (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-04-25	Stock Unit (SIP)	$	A	630	Acquired		Common Stock (630)	Direct
2025-04-25	Performance Stock Unit (SIP)	$	A	1259	Acquired		Common Stock (1259)	Direct
2025-04-25	Performance Stock Unit (SIP)	$	A	630	Acquired		Common Stock (630)	Direct
2025-04-25	Performance Stock Unit (SIP)	$	A	630	Acquired		Common Stock (630)	Direct

Footnotes

F1: 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.

F2: The total grant of 630 restricted stock units will vest in three equal installments on 04/25/2026, 04/25/2027, and 04/25/2028.

F3: As of 04/29/2025, total restricted stock units beneficially owned is 24,444.38. This total includes the 05/25/2022 grant of 3,129.728 restricted stock units, the 07/28/2022 grant of 3,820.497 restricted stock units, the 01/20/2023 grant of 5,078.858 restricted stock units, the 01/25/2024 grant of 5,721.82 restricted stock units and the 01/30/2025 grant of 6,063.477 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 04/25/2025 grant of 630 restricted stock units.

F4: 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 12/31/2027. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2028.

F5: As of 04/29/2025, total performance units beneficially owned is 69,973.527. This total includes the three 01/20/2023 grants of (a) 5,078.858, (b) 5,078.858, and (c) 10,156.631 performance units, the three 01/25/2024 grants of (a) 5,721.82, (b) 5,721.82, and (c) 11,443.639 performance units and the three 01/30/2025 grants of (a) 6,063.477, (b) 6,063.477, and (c) 12,125.947 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 04/25/2025 grants of (a) 1,259, (b) 630, and (c) 630 performance 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 earnings growth over a three-year performance period ending 12/31/2027. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2028.

F7: 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 long-term sustainability-related metrics over a three-year performance period ending 12/31/2027. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2028.