Form 4: PNC Director Richard J. Harshman Reports Changes in Beneficial Ownership

Richard J. Harshman, a director of PNC Financial Services Group, reports acquisition of deferred stock units and phantom stock units.

Summary

• Richard J. Harshman, a director at PNC Financial Services Group, filed a Form 4 with the SEC.
• The filing reports changes in beneficial ownership of PNC securities.
• On April 23, 2025, Harshman acquired 1,207 deferred stock units (DSUs) under PNC's 2016 Incentive Award Plan.
• Each DSU represents the right to receive one share of PNC common stock at retirement or, in limited cases, cash equal to the fair market value of one share.
• Harshman directly owns 8,567 deferred stock units.
• Harshman also indirectly owns 1,895 phantom stock units through the Deferred Compensation Plan.
• These phantom stock units are the economic equivalent of PNC common stock and will be settled in cash upon distribution.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.

Future Outlook

The deferred stock units will be settled in PNC common stock upon retirement, while phantom stock units will be settled in cash upon distribution.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Key Dates

Keywords

Form 4, Beneficial Ownership, PNC, Deferred Stock Units, Phantom Stock Units, Director, Richard J. Harshman