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 transactions involving phantom stock units and deferred stock units.

Summary

• On April 1, 2025, Richard J. Harshman, a director of PNC Financial Services Group, reported changes in his beneficial ownership of PNC securities.
• He acquired 38 phantom stock units, with each unit representing the economic equivalent of one share of PNC common stock.
• These units were acquired at a price of $174.64.
• Harshman also holds 7,360 deferred stock units (DSUs), which represent the right to receive one share of PNC common stock at retirement.
• The report includes DSUs and phantom stock units acquired as dividend equivalents under the PNC Directors Deferred Stock Unit Program and the PNC Deferred Compensation Plan, respectively.
• These dividend equivalent acquisitions are exempt from reporting and occurred after Harshman's most recent Form 4 filing.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, reporting transactions without expressing any positive or negative sentiment.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is a common practice in the financial industry to ensure transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders like directors and officers across all publicly traded companies, including peers of PNC Financial Services Group such as Bank of America, Citigroup, and Wells Fargo.
• The reporting requirements and timelines are consistent across the industry, ensuring transparency in insider trading activities.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings and transactions of a company director.
• It helps ensure fair market practices and prevents insider trading.

Key Dates

Keywords

beneficial ownership, Form 4, PNC Financial Services Group, Richard J. Harshman, phantom stock units, deferred stock units, director, dividend equivalents