Form 4: PNC Financial Services Group Executive Vice President Stacy M. Juchno Reports Stock Transactions
SEC Form 4
Executive Vice President Stacy M. Juchno reports transactions involving PNC Financial Services Group common stock related to vesting of performance share units and restricted stock units, along with shares withheld for tax liabilities.
Summary
- On February 14, 2025, Stacy M. Juchno, an Executive Vice President at PNC Financial Services Group, had 2,996 shares of PNC common stock vest from a performance share unit award granted on February 10, 2022.
- The vesting was based on a 142.17% payout approved by the Human Resources Committee, reflecting achievement against performance criteria.
- Juchno also had 855 shares withheld to cover tax liabilities related to the vesting of these performance share units at a price of $193.91.
- On February 16, 2025, 556 shares vested from a restricted stock unit award granted on February 16, 2023, with a 100% payout based on service requirements and risk-based performance criteria.
- An additional 159 shares were withheld for tax liabilities related to the 2023 restricted stock units at a price of $193.91.
- Also on February 16, 2025, 677 shares vested from a restricted stock unit award granted on February 16, 2024, with a 100% payout based on service requirements and risk-based performance criteria.
- Another 193 shares were withheld for tax liabilities related to the 2024 restricted stock units at a price of $193.91.
- Following these transactions, Juchno directly owns 20,662 shares of PNC common stock and indirectly owns 114 shares through a 401(k) plan.
Sentiment
Score: 6
Explanation: The document reflects standard executive compensation practices and insider transactions, which are neither overtly positive nor negative. The 142.17% payout on performance share units is a slightly positive indicator.
Positives
- The vesting of performance share units at 142.17% suggests strong performance against established criteria.
- The vesting of restricted stock units at 100% indicates satisfaction of service requirements and achievement of risk-based performance criteria.
Industry Context
Form 4 filings are standard disclosures for corporate insiders and provide transparency into their transactions in company stock. The vesting of stock units is a common form of executive compensation.
Stakeholder Impact
- Shareholders may view the vesting of performance share units as a reflection of the company's performance.
- Employees may see this as an example of executive compensation practices within the company.
Key Dates
| Date | Description |
|---|---|
| 02/10/2022 | Date of grant for the 2022 performance share units (PSUs). |
| 02/16/2023 | Date of grant for the 2023 restricted stock units (RSUs). |
| 02/16/2024 | Date of grant for the 2024 restricted stock units (RSUs). |
| 02/14/2025 | Vesting date of 2,996 shares from the 2022 performance share units. |
| 02/16/2025 | Vesting date of 556 shares from the 2023 restricted stock units and 677 shares from the 2024 restricted stock units. |
| 02/19/2025 | Date of signature on the Form 4 filing. |
Keywords
PNC Financial Services Group, Stacy M. Juchno, Form 4, Executive Vice President, Stock Vesting, Performance Share Units, Restricted Stock Units, Beneficial Ownership, Tax Withholding
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