Form 4: PNC Executive Robert Reilly Reports Stock Vesting and Tax Withholding

Executive Vice President Robert Q. Reilly reports the vesting of restricted stock units and associated tax withholding, impacting his beneficial ownership of PNC Financial Services Group stock.

Summary

• Robert Q. Reilly, an Executive Vice President at PNC Financial Services Group, reported changes in his beneficial ownership of PNC stock on February 10, 2025.
• 2,058 shares vested from restricted stock units (RSUs) granted on February 10, 2022, based on service and performance criteria.
• The Human Resources Committee approved a 100% payout of these RSUs.
• 516 shares were withheld to cover Reilly's tax liability related to the RSU vesting at a price of $197.28.
• Reilly also received 5,387 shares previously held in a GRAT (Grantor Retained Annuity Trust), which are now held directly.
• He indirectly holds 9,613 shares through a 2023 GRAT and 1,827 shares through The PNC Incentive Savings Plan (ISP), a 401(k) plan.
• Following these transactions, Reilly directly owns 153,449 shares of PNC common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates the vesting of previously granted stock awards and associated tax implications, which is a common occurrence in publicly traded companies.

Stakeholder Impact

• Shareholders gain insight into executive compensation and ownership structure.
• Employees may be interested in the details of stock-based compensation plans.

Key Dates

Keywords

PNC Financial Services Group, Robert Q. Reilly, stock vesting, Form 4, beneficial ownership, restricted stock units, tax withholding, GRAT, 401(k) plan, ISP