Form 4: PNC Financial Services Group Director Reports Acquisition of Phantom Stock Units and Deferred Stock Units

Marjorie Rodgers Cheshire, a director of PNC Financial Services Group, reported the acquisition of phantom stock units and deferred stock units, reflecting changes in beneficial ownership.

Summary

• Marjorie Rodgers Cheshire, a director at PNC Financial Services Group, filed a Form 4 detailing changes in her beneficial ownership.
• The report includes the acquisition of 75 phantom stock units on April 1, 2025, at a price of $174.64 per unit.
• These phantom stock units are the economic equivalent of one share of PNC common stock and will be settled in cash upon distribution.
• The report also accounts for phantom stock units acquired as dividend equivalents under the PNC Deferred Compensation Plan and the PNC Outside Directors Deferred Stock Unit Plan.
• Additionally, the report includes deferred stock units (DSUs) granted under the PNC Directors Deferred Stock Unit Program, representing the right to receive one share of PNC common stock at retirement.
• The reporting person also acquired DSUs as dividend equivalents under the Program.
• As of the reported transaction, Cheshire beneficially owns 5,521 phantom stock units through the Deferred Compensation Plan, 4,074 phantom stock units through the Deferred Stock Unit Plan, and 10,136 DSUs directly.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard insider transactions and alignment with company performance.

Positives

• The acquisition of phantom stock units and deferred stock units reflects continued investment and alignment with the company's performance.
• The dividend equivalents acquired under the compensation plans demonstrate the ongoing benefits of these programs for directors.

Future Outlook

The document does not contain specific forward-looking statements, but the holdings of phantom stock units and deferred stock units suggest a long-term alignment with the company's performance.

Industry Context

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

Stakeholder Impact

• The report provides transparency to shareholders regarding the holdings of company directors.
• The transactions reflect the director's ongoing investment in the company.

Key Dates

Keywords

Form 4, beneficial ownership, phantom stock units, deferred stock units, PNC, director, Marjorie Rodgers Cheshire, dividend equivalents, PNC Financial Services Group