SEC Form 4 · accession 0001209191-18-009598
PNC FINANCIAL SERVICES GROUP, INC. · PNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael P. Lyons
Officer — Executive Vice President
Period of report
Feb 11, 2018
Accepted (ET)
Feb 13, 2018 · 4:52 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000713676
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| $5 Par Common Stock | Feb 11, 2018 | A | 8,155 | $0.00 | A | 119,069 | D | |
| $5 Par Common Stock | Feb 11, 2018 | F | 2,734 | $151.71 | D | 116,335 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 11, 2018, 8,155 shares of PNC Common Stock vested following the approval of the Personnel and Compensation Committee of the PNC Board of Directors on January 29, 2018 of a payout of 125% based on performance against established criteria of previously granted performance based restricted share units to the reporting person. The grant was made on February 11, 2016 and was expressed as a "target" number of share units, with payout contingent on PNC having achieved related performance criteria. The share units pay out, if at all, in shares of PNC Common Stock, with any accrued dividend equivalents being paid out in cash. Subject to the Committee's discretion, the target number of share units may be reduced (down to 75% of target) or increased (up to 125% of target), based on PNC total shareholder return for the prior fiscal year.
- F2Represents shares withheld to cover the reporting person's tax liability in connection with the performance based restricted share units awarded on February 11, 2018 and granted on February 11, 2016.
Remarks
See attached footnotes page.