Form 4: PG&E Executive Marlene Santos Reports Stock Transactions

EVP and CCO of PG&E Company, Marlene Santos, reports acquisition and disposal of PG&E Corp stock, including vesting of performance shares and sales under a 10b5-1 trading plan.

Summary

• Marlene Santos, EVP and CCO at PG&E Company, reported several transactions involving PG&E Corp [PCG] common stock.
• On March 1, 2025, she acquired 260,014 shares related to vested performance shares under the 2021 Long-Term Incentive Plan (LTIP).
• Also on March 1, 2025, 134,312 shares were forfeited to cover tax obligations related to the vesting of these performance shares at a price of $16.34.
• On March 3, 2025, she acquired 47,475 Restricted Stock Units (RSUs) granted under the 2021 LTIP.
• On March 4, 2025, she sold 125,702 shares at a weighted average price of $16.37, with individual sales ranging from $16.29 to $16.47.
• These sales were executed under a pre-arranged trading plan compliant with Rule 10b5-1(c) adopted on November 18, 2024.
• Following these transactions, Santos beneficially owns 252,393 shares of PG&E Corp common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock transactions by an executive, which is a routine occurrence. There is no indication of positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, providing transparency to investors regarding insider activity. It is common for executives to have pre-arranged trading plans (Rule 10b5-1) to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The use of 10b5-1 trading plans is a common strategy among corporate executives to manage their stock holdings while complying with insider trading regulations.
• The reported transactions are typical for executives receiving stock-based compensation and managing their tax obligations.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding insider trading activity.
• The sales under the 10b5-1 plan are unlikely to have a significant impact on other stakeholders.

Key Dates