SEC Form 4 · accession 0001209191-16-093557
PPL Corp · PPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William H Spence
Officer — Chairman, President and CEO
Period of report
Jan 22, 2016
Accepted (ET)
Jan 26, 2016 · 1:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000922224
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 22, 2016 | M | 112,052 | $34.01 | A | 172,418 | D | |
| Common StockF1 | Jan 22, 2016 | F | 47,754 | $34.01 | D | 124,664 | D | |
| Common StockF4,F5,F1 | Jan 25, 2016 | S | 64,298 | $33.994 | D | 60,366 | D | |
| Common StockF1 | Jan 25, 2016 | M | 107,883 | $33.23 | A | 168,249 | D | |
| Common StockF1 | Jan 25, 2016 | F | 50,080 | $33.23 | D | 118,169 | D | |
| Common StockF1 | holding | — | — | — | 119 | I | Held in trust pursuant to the Employee Stock Ownership Plan. | |
| Common Stock | holding | — | — | — | 12,824 | I | Held in trust for benefit of Mr. Spence's wife. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Unit (SIP)F1,F6 | $0.00 | Jan 22, 2016 | M | 112,052 | D | — | — | Common Stock | 112,052 | 0 | D |
| Performance Stock Unit (SIP)F1,F7 | $0.00 | Jan 25, 2016 | M | 107,883 | D | — | — | Common Stock | 107,883 | 0 | D |
Explanation of responses
- F1Total includes the reinvestment of dividends.
- F2Shares 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 Stock Incentive Plan (SIP).
- F3Represents the sale of 64,298 shares of common stock pursuant to a 10b5-1 plan, dated November 6, 2015.
- F4Represents the weighted average sales price for price increments ranging from $33.711 to $34.165.
- F5The Reporting Person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price for all transactions reported on this Form 4.
- F6The contractual vesting of these units was to occur on 01/24/2016, but because that occurred on a weekend, the actual vesting occurred on 01/25/2016, valued as of the close of market on 01/22/2016.
- F7No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), the underlying securities were earned (142.86%) based on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2015. Determination of the percentage of the award earned was made by the Compensation, Governance and Nominating Committee on 01/21/2016 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/25/2016.