SEC Form 4 · accession 0001209191-16-093559
PPL Corp · PPL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Vincent Sorgi
Officer — Sr. Vice President and CFO
Period of report
Jan 22, 2016
Accepted (ET)
Jan 26, 2016 · 1:57 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 Stock | Jan 22, 2016 | M | 8,885 | $34.01 | A | 21,647 | D | |
| Common Stock | Jan 22, 2016 | F | 2,930 | $34.01 | D | 18,717 | D | |
| Common Stock | Jan 25, 2016 | M | 7,652 | $33.23 | A | 26,369 | D | |
| Common Stock | Jan 25, 2016 | F | 2,435 | $33.23 | D | 23,934 | D | |
| Common StockF2 | holding | — | — | — | 114 | I | Held in trust pursuant to the Employee Stock Ownership Plan. |
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)F2,F3 | $0.00 | Jan 22, 2016 | M | 8,885 | D | — | — | Common Stock | 8,885 | 0 | D |
| Performance Stock Unit (SIP)F2,F4 | $0.00 | Jan 25, 2016 | M | 7,652 | D | — | — | Common Stock | 7,652 | 0 | D |
Explanation of responses
- F1Shares 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).
- F2Total includes the reinvestment of dividends.
- F3The 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.
- F4No 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.