SEC Form 4 · accession 0001209191-18-005814
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 25, 2018
Accepted (ET)
Jan 29, 2018 · 3:38 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 26, 2018 | M | 26,174 | $32.27 | A | 91,629 | D | |
| Common StockF1 | Jan 26, 2018 | F | 11,454 | $32.27 | D | 80,175 | D | |
| Common StockF1 | holding | — | — | — | 129 | 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. | |
| Common Stock | holding | — | — | — | 28,262 | I | By Grantor Retained Annuity Trust |
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)F5,F3,F4 | — | Jan 25, 2018 | A | 33,038 | A | — | — | Common Stock | 33,038 | 33,038 | D |
| Performance Stock Unit (SIP)F7,F6 | — | Jan 25, 2018 | A | 66,076 | A | — | — | Common Stock | 66,076 | 66,076 | D |
| Performance Stock Unit (SIP)F7,F8 | — | Jan 25, 2018 | A | 66,076 | A | — | — | Common Stock | 66,076 | 66,076 | D |
| Performance Stock Unit (SIP)F1,F7,F9 | $0.00 | Jan 26, 2018 | M | 26,174 | D | — | — | Common Stock | 26,174 | 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).
- F3No 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.
- F4The units will vest on 01/25/2021.
- F5As of 01/29/2018, total restricted stock units beneficially owned is 246,769.043. This total includes the 01/21/2016 grant of 94,275.888 restricted stock units, the 01/26/2017 grant of 31,590.79 restricted stock units, and the 02/17/2017 grant of 87,864.365 restricted stock units, plus in each case, the incremental addition of restricted stock units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such restricted stock units, and the 01/25/2018 grant of 33,038 restricted stock units.
- F6No 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 12/31/2020. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation, Governance and Nominating Committee in January 2021.
- F7As of 01/29/2018, total performance units beneficially owned is 358,381.28. This total includes the 01/21/2016 grant of 99,868.211 performance units, and the 01/26/2017 grants of 94,770.279 and 31,590.79 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 01/25/2018 grants of 66,076 and 66,076 performance units.
- F8No 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 return on equity over a three-year performance period ending December 31, 2020. Determination of number of underlying securities that have been earned, if any, will be made by the Compensation, Governance and Nominating Committee in January 2021.
- F9No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), the underlying securities were earned (25%) based on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2017. Determination of the percentage of the award earned was made by the Compensation, Governance and Nominating Committee on 01/25/2018 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/26/2018.