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

Richard J. Harshman, a director at PNC Financial Services Group, reported changes in his beneficial ownership of PNC stock, including acquisitions of phantom stock units and deferred stock units.

Summary

• On July 1, 2024, Richard J. Harshman, a director of PNC Financial Services Group, reported changes in his beneficial ownership of the company's securities.
• He acquired 146 phantom stock units, each equivalent to one share of PNC common stock, at a price of $156.14.
• He also holds 1,740 phantom stock units through the PNC Deferred Compensation Plan, including 15 units acquired as dividend equivalents.
• Additionally, he possesses 7,183 deferred stock units (DSUs) granted under the PNC Directors Deferred Stock Unit Program, representing the right to receive one share of PNC common stock upon retirement.
• This includes 57 DSUs acquired as dividend equivalents.
• The report was filed on July 3, 2024, by Laura Gleason, Attorney-in-Fact for Richard J. Harshman.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It simply reports transactions and doesn't convey any particular positive or negative sentiment.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, as required by the SEC. It provides transparency to investors regarding the holdings and transactions of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The details disclosed are similar to those found in Form 4 filings for directors and officers at comparable financial institutions like JP Morgan Chase, Bank of America, and Citigroup.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a key director.
• It can influence investor perception of management's confidence in the company.

Key Dates