WILLIAM S. DEMCHAK - 20 Feb 2025 Form 4 Insider Report for PNC FINANCIAL SERVICES GROUP, INC. (PNC)

Signature
Laura Gleason, Attorney-in-Fact for William S. Demchak
Issuer symbol
PNC
Transactions as of
20 Feb 2025
Transactions value $
-$1,222,459
Form type
4
Filing time
24 Feb 2025, 14:00:07 UTC
Previous filing
18 Feb 2025
Next filing
03 Mar 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PNC $5 Par Common Stock Award $0 +11,897 +2.1% $0 577,392 20 Feb 2025 Direct F1
transaction PNC $5 Par Common Stock Tax liability -$983,436 -5,125 -0.89% $191.89 572,267 20 Feb 2025 Direct F2
transaction PNC $5 Par Common Stock Sale -$239,022 -1,242 -0.22% $192.45 571,025 21 Feb 2025 Direct F3
holding PNC $5 Par Common Stock 2,702 20 Feb 2025 401(k) Plan
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 On February 20, 2025, 11,897 shares of The PNC Financial Services Group, Inc. ("PNC") common stock vested pursuant to an award of restricted stock units granted to the reporting person on February 20, 2024 (the "2024 RSUs"), following approval by the Human Resources Committee (the "Committee") of a payout of 100% based on the satisfaction of the reporting person's service requirements and achievement against the risk-based performance criteria established under the award. Pursuant to the award, the 2024 RSUs pay out in shares of PNC common stock, and any accrued dividend equivalents are paid out in cash.
F2 Represents shares withheld to cover the reporting person's tax liability in connection with the vesting of the 2024 RSUs.
F3 Sale of shares effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 15, 2024.