Francis X. Sullivan - Jan 20, 2023 Form 4 Insider Report for PPL Corp (PPL)

Role: EVP and COO
Signature: /s/ W. Eric Marr, as Attorney-In-Fact for Francis X. Sullivan
Stock symbol: PPL
Transactions as of: Jan 20, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/24/2023, 05:13 PM
Previous filing: Jan 9, 2023
Next filing: Jan 29, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PPL	Stock Unit (SIP)	Award	$0	+8.46K		$0.00	8.46K	Jan 20, 2023	Common Stock	8.46K		Direct	F1, F2, F3
transaction	PPL	Performance Stock Unit (SIP)	Award	$0	+16.9K		$0.00	16.9K	Jan 20, 2023	Common Stock	16.9K		Direct	F4, F5
transaction	PPL	Performance Stock Unit (SIP)	Award	$0	+8.46K		$0.00	8.46K	Jan 20, 2023	Common Stock	8.46K		Direct	F5, F6
transaction	PPL	Performance Stock Unit (SIP)	Award	$0	+8.46K		$0.00	8.46K	Jan 20, 2023	Common Stock	8.46K		Direct	F5, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	The units will vest on 01/20/2026.
F3	As of 01/24/2023, total restricted stock units beneficially owned is 9,605. This total includes the 10/01/2021 grant of 233 restricted stock units, the 01/27/2022 grant of 913 restricted stock units, and the 01/20/2023 grant of 8,459 restricted stock units.
F4	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.
F5	As of 01/24/2023, total performance units beneficially owned is 38,574.457. This total includes the 10/01/2021 grants of 486.349 and 486.349 performance units and the three 01/27/2022 grants of (a) 1,882.863, (b) 941.948, and (c) 941.948 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) 16,917, (b) 8,459, and (c) 8,459 performance units.
F6	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.
F7	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.