Form 4: PPL Corp Executive Receives Stock and Performance Unit Grants

David J. Bonenberger, EVP & COO-Utilities at PPL Corp, reports the acquisition of stock units and performance stock units under the company's Stock Incentive Plan.

Summary

• On April 25, 2025, David J. Bonenberger, EVP & COO-Utilities of PPL Corp, was granted stock units and performance stock units under the Stock Incentive Plan (SIP).
• The grant includes 630 restricted stock units that will vest in three equal installments on April 25, 2026, April 25, 2027, and April 25, 2028.
• Bonenberger also received 1,259 performance stock units tied to the company's performance relative to an industry peer group over a three-year period ending December 31, 2027.
• Additionally, he received 630 performance stock units linked to the company's earnings growth and another 630 performance stock units tied to long-term sustainability-related metrics, both over a three-year performance period ending December 31, 2027.
• As of April 29, 2025, Bonenberger beneficially owns a total of 24,444.38 restricted stock units and 69,973.527 performance units, including previous grants and dividend equivalents.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, aligning management incentives with company performance and shareholder value. The grants are a positive sign of confidence in the executive's ability to contribute to the company's success.

Positives

• The grant of performance stock units aligns executive compensation with company performance relative to peers, earnings growth, and sustainability metrics.
• The vesting schedule of the restricted stock units encourages long-term commitment from the executive.

Future Outlook

The number of performance stock units that will ultimately vest depends on PPL Corp's performance relative to its industry peers, its earnings growth, and its achievement of long-term sustainability-related metrics over the three-year performance period ending December 31, 2027.

Industry Context

Stock grants and performance-based compensation are common practices in the utilities industry to align executive interests with shareholder value and long-term company goals.

Comparison to Industry Standards

• Companies like Duke Energy (DUK) and Exelon Corporation (EXC) also utilize stock incentive plans to reward executives based on performance metrics such as earnings per share growth, return on equity, and customer satisfaction.
• The specific metrics used in PPL Corp's performance stock unit grants (peer group performance, earnings growth, and sustainability) are consistent with industry trends focusing on both financial and environmental, social, and governance (ESG) factors.

Stakeholder Impact

• Shareholders may view the performance-based compensation as a positive alignment of executive interests with long-term value creation.
• Employees may see the grants as a sign of the company's commitment to rewarding performance and achieving its strategic goals.

Key Dates

Keywords

Stock Incentive Plan, Performance Stock Units, Restricted Stock Units, Beneficial Ownership, Executive Compensation, PPL Corp, Form 4