Form 4: PNC Financial Services Group Director Andrew Feldstein Reports Changes in Beneficial Ownership

Director Andrew Feldstein reports changes in beneficial ownership of PNC Financial Services Group, including acquisitions of phantom stock units and deferred stock units.

Summary

• Andrew T. Feldstein, a director of PNC Financial Services Group, filed a Form 4 detailing changes in his beneficial ownership.
• The transactions include the acquisition of 215 phantom stock units on October 1, 2024, at a price of $179.89.
• These phantom stock units are the economic equivalent of PNC common stock and will be settled in cash upon distribution.
• Feldstein also holds 18,162 phantom stock units through a deferred compensation plan and 6,093 through a deferred stock unit plan.
• Additionally, he owns 9,978 deferred stock units directly, which represent the right to receive PNC common stock at retirement.
• The report includes dividend equivalents acquired under the PNC Deferred Compensation Plan (164 units), the PNC Outside Directors Deferred Stock Unit Plan (56 units), and the PNC Directors Deferred Stock Unit Program (86 units).

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

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

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.

Key Dates