Michael J. Hannon - Jul 20, 2023 Form 4 Insider Report for PNC FINANCIAL SERVICES GROUP, INC. (PNC)

Role: Executive Vice President
Signature: Laura Gleason, Attorney-in-Fact for Michael J. Hannon
Stock symbol: PNC
Transactions as of: Jul 20, 2023
Transactions value $: $413,496
Form type: 4
Date filed: 7/24/2023, 07:01 PM
Previous filing: Feb 21, 2023
Next filing: Feb 13, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PNC	$5 Par Common Stock	Other	$413K	+3.22K	+9.16%	$128.38	38.4K	Jul 20, 2023	Direct	F1
holding	PNC	$5 Par Common Stock						10K	Jul 20, 2023	by 2023 GRAT	F2
holding	PNC	$5 Par Common Stock						146	Jul 20, 2023	by Spouse

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

Explanation of Responses:

Id	Content
F1	The reporting person contributed 10,000 shares of The PNC Financial Services Group, Inc. ("PNC") common stock to a grantor retained annuity trust for the benefit of himself and his children on June 16, 2020. In connection with the termination of the trust in accordance with its terms on June 16, 2023, 3,221 shares of PNC common stock were reacquired by the reporting person from the trust on July 20, 2023. The reporting person believes the foregoing transfer represents a change in the form of his beneficial ownership of the subject shares, which is exempt from Section 16 under Rule 16a-13. The shares of PNC common stock that the trust previously distributed to the reporting person as annuity payments (in transfers exempt from Section 16 under Rule 16a-13) are reported on this Form 4 as directly beneficially owned.
F2	These shares were contributed to a grantor retained annuity trust on July 20, 2023 and were previously reported as directly beneficially owned.

Content

The reporting person contributed 10,000 shares of The PNC Financial Services Group, Inc. ("PNC") common stock to a grantor retained annuity trust for the benefit of himself and his children on June 16, 2020. In connection with the termination of the trust in accordance with its terms on June 16, 2023, 3,221 shares of PNC common stock were reacquired by the reporting person from the trust on July 20, 2023. The reporting person believes the foregoing transfer represents a change in the form of his beneficial ownership of the subject shares, which is exempt from Section 16 under Rule 16a-13. The shares of PNC common stock that the trust previously distributed to the reporting person as annuity payments (in transfers exempt from Section 16 under Rule 16a-13) are reported on this Form 4 as directly beneficially owned.

These shares were contributed to a grantor retained annuity trust on July 20, 2023 and were previously reported as directly beneficially owned.