SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Cornett John Gregory

(Last) (First) (Middle)
TWO NORTH NINTH STREET

(Street)
ALLENTOWN PA 18101

(City) (State) (Zip)
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
3. Date of Earliest Transaction (Month/Day/Year)
05/02/2024
4. If Amendment, Date of Original Filed (Month/Day/Year)
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. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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: 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) (1) 05/02/2024 A 142 (2) (2) Common Stock 142 $0.00 0(3) D
Performance Unit (SIP) (4) 05/02/2024 A 284 (4) (4) Common Stock 284 $0.00 0(5) D
Performance Unit (SIP) (6) 05/02/2024 A 142 (6) (6) Common Stock 142 $0.0 0(5) D
Performance Unit (SIP) (7) 05/02/2024 A 142 (7) (7) Common Stock 142 $0.00 0(5) D
Explanation of Responses:
1. 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.
2. The units will vest on 05/02/2027.
3. As of 05/06/2024, total restricted stock units beneficially owned is 4,749.648. This total includes the 01/27/2022 grant of 1,166 restricted stock units, the 01/20/2023 grant of 1,237 restricted stock units, the 01/25/2024 grant of 1,488 restricted stock units, and the 03/04/2024 grant of 716.648 restricted stock units, which in the case of the 03/04/2024 grant, includes 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, plus the 05/02/2024 grant of 142 restricted stock units.
4. 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 12/31/2026. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2027.
5. As of 05/06/2024, total performance units beneficially owned is 19,661.723. This total includes the three 01/27/2022 grants of (a) 2,518.66, (b) 1,259.872, and (c) 1,259.872 performance units, the three 01/20/2023 grants of (a) 2,589.975, (b) 1,295.51, and (c) 1,295.51 performance units, the 01/25/2024 grants of (a) 3,003.866, (b) 1,501.933, (c) 1,501.933 performance units, and the 03/04/2024 grants of (a) 1,433.296, (b) 716.648, and (c) 716.648 performance units, which includes 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, plus the three 05/02/2024 grants of (a) 284, (b) 142, and (c) 142 performance 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 earnings growth over a three-year performance period ending 12/31/2026. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2027.
7. 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 12/31/2026. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2027.
/s/ W. Eric Marr, as Attorney-In-Fact for John Gregory Cornett 05/06/2024
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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