FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Bonenberger David J 2. Issuer Name and Ticker or Trading Symbol PPL Corp [ PPL ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
President of a PPL Subsidiary
(Last)          (First)          (Middle)
TWO NORTH NINTH STREET
3. Date of Earliest Transaction (MM/DD/YYYY)
1/20/2023
(Street)
ALLENTOWN, PA 18101
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  1/23/2023    M    1118  A $29.32  35723.664 (1) D   
Common Stock  1/23/2023    F(2)    399  D $29.32  35324.664 (1) D   
Common Stock                 4582.73 (1) I  Held in trust pursuant to the Employee Stock Ownership Plan. 
Common Stock                 100  I  By Spouse in IRA. 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Unit (SIP)   (3) 1/20/2023    A     4694       (4)  (4) Common Stock  4694  $0.00  4694 (5) D   
Performance Stock Unit (SIP)   (6) 1/20/2023    A     9387       (6)  (6) Common Stock  9387  $0.00  9387 (7) D   
Performance Stock Unit (SIP)   (8) 1/20/2023    A     4694       (8)  (8) Common Stock  4694  $0.00  4694 (7) D   
Performance Stock Unit (SIP)   (9) 1/20/2023    A     4694       (9)  (9) Common Stock  4694  $0.00  4694 (7) D   
Performance Stock Unit (ICPKE)   (10) 1/20/2023    J (11)       2602.115 (1)   (10)  (10) Common Stock  2602.115 (1) $0.00  0 (7) D   
Stock Unit (ICPKE)  $0.00  1/23/2023    M        1118    (12)  (12) Common Stock  1118  $0.00  0  D   

Explanation of Responses:
(1)  Total includes the reinvestment of dividends.
(2)  Shares withheld by the company at the request of the executive officer to pay taxes due following expiration of the applicable restriction period, under the terms of the Incentive Compensation Plan for Key Employees (ICPKE).
(3)  No conversion or exercise price applies. Under the terms of the Stock Incentive Plan (SIP), a restricted stock unit converts to a share of common stock on the applicable vesting date.
(4)  The units will vest on 01/20/2026.
(5)  As of 01/24/2023, total restricted stock units beneficially owned is 14,122.564. This total includes the 01/21/2021 grant of 1,522 restricted stock units, the 01/27/2022 grant of 1,483 restricted stock units, the 05/25/2022 grant of 2892.57 restricted stock units, and the 07/28/2022 grant of 3,530.994 restricted stock units, plus in the case of the 05/25/2022 and 07/28/2022 grants, the incremental addition of restricted stock units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such restricted stock units, and the 01/20/2023 grant of 4,694 restricted stock units.
(6)  No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2025. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation Committee in January 2026.
(7)  As of 01/24/2023, total performance units beneficially owned is 45,716.914. This total includes the 01/23/2020 grant of 2,602.115 performance units, the 01/21/2021 grants of 3,325.748 and 3,325.748 performance units, the three 01/27/2022 grants of (a) 3,059.007, (b) 1,530.02, and (c) 1,530.02 performance units, and the three 05/25/2022 grants of (a) 5,784.116, (b) 2,892.57, and (c) 2,892.57 performance units, plus in each case, the incremental addition of performance units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such performance units, and the three 01/20/2023 grants of (a) 9,387, (b) 4,694, and (c) 4,694 performance units.
(8)  No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's earnings growth over a three-year performance period ending 12/31/2025. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation Committee in January 2026.
(9)  No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's achievement of certain ESG-related metrics over a three-year performance period ending 12/31/2025. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation Committee in January 2026.
(10)  No conversion or exercise price or exercise or expiration date applies.
(11)  The Company did not achieve the threshold percentile ranking in the applicable index to trigger share awards, therefore performance units based on TSR granted in 2020 will be paid out at 0%.
(12)  The units vested on 01/23/2023.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Bonenberger David J
TWO NORTH NINTH STREET
ALLENTOWN, PA 18101


President of a PPL Subsidiary

Signatures
/s/ W. Eric Marr, as Attorney-In-Fact for David J. Bonenberger 1/24/2023
**Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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