Form 4: PPL Corp CEO Vincent Sorgi Executes Stock Incentive Plan, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
PPL Corp CEO Vincent Sorgi exercised performance stock units and disposed of shares to cover tax obligations, according to a recent SEC Form 4 filing.
Summary
- On February 13, 2025, Vincent Sorgi, President and CEO of PPL Corp, executed performance stock units (SIP) and acquired 61,102 shares of common stock at a price of $34.41.
- Simultaneously, Sorgi disposed of 26,745 shares to cover tax obligations at the same price of $34.41.
- Following these transactions, Sorgi directly owns 489,218.808 shares of PPL Corp common stock and indirectly owns 172.934 shares held in trust through the Employee Stock Ownership Plan.
- As of February 18, 2025, Sorgi beneficially owns a total of 562,005.954 performance units.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation. It is neutral in sentiment as it doesn't indicate positive or negative performance for the company.
Industry Context
This type of transaction is common for executives who receive stock-based compensation. It reflects the executive's compensation package and personal financial management, rather than a direct commentary on the company's performance.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/20/2023 | Date of three grants of performance units: (a) 88,049.085, (b) 44,024.542, and (c) 44,024.542. |
| 01/25/2024 | Date of three grants of performance units: (a) 104,176.393, (b) 52,088.196, and (c) 52,088.196. |
| 12/31/2024 | End of the three-year performance period for the Stock Incentive Plan (SIP). |
| 01/30/2025 | The People and Compensation Committee determined the percentage of the award earned under the Stock Incentive Plan (SIP). |
| 01/30/2025 | Date of three grants of performance units: (a) 88,777, (b) 44,389, and (c) 44,389. |
| 02/13/2025 | Date of transaction: Sorgi acquired 61,102 shares and disposed of 26,745 shares. |
| 02/18/2025 | Date of the filing; total performance units beneficially owned is 562,005.954. |
Keywords
PPL Corp, Vincent Sorgi, Stock Incentive Plan, SEC Form 4, Beneficial Ownership, Performance Stock Units, Tax Obligations, Common Stock
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