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Form 4 filing for The PNC Financial Services Group, Inc. (PNC) details insider activity by director Marjorie Rodgers Cheshire dated July 1, 2025.

• The director acquired 224 phantom stock units at an underlying reference price of $192.52. Each unit economically represents one share of PNC common stock and will be settled in cash under the Deferred Compensation Plan.
• Following the transaction, Cheshire beneficially owns 5,799 phantom units within the Deferred Compensation Plan, 4,114 phantom units under the Outside Directors Deferred Stock Unit Plan, and 11,437 deferred stock units (DSUs) granted through PNC鈥檚 Directors Deferred Stock Unit Program.
• No common shares were sold or disposed of; all reported securities were acquired or represent accrued dividend equivalents, indicating an incremental increase in the director鈥檚 economic exposure to PNC.
• All instruments are either indirect (plan-held phantom units) or direct (DSUs), with settlement occurring in cash or stock at retirement according to plan terms.

The filing reflects routine compensation-related accruals rather than open-market purchases, but the absence of sales signals continued alignment of the director鈥檚 interests with shareholders.

Form 4 Overview 鈥� Extra Space Storage Inc. (EXR)

EVP & Chief Strategy & Partnerships Officer William N. Springer reported a Code F transaction on 01 July 2025. Code F indicates the issuer withheld shares to cover taxes generated by the vesting of restricted stock rather than an open-market sale.

• Shares withheld: 138 common shares at an implied price of $150.50.
• Purpose: Satisfy payroll-tax obligations related to restricted stock that vested (25% per year over four years).
• Post-transaction holding: 20,020 EXR shares held directly.

The withholding represents <0.01 % of EXR鈥檚 ~210 million outstanding shares and around 0.7 % of Springer's personal stake. Because no discretionary sale or purchase occurred, the filing is generally viewed as neutral from a market-signal perspective.

Form 4 overview: Director Daniel R. Hesse of PNC Financial Services Group (NYSE: PNC) reported changes in his deferred equity holdings effective 1 July 2025.

• Transaction details: Hesse acquired 204 phantom stock units at an implied reference price of $192.52 through the company鈥檚 Deferred Compensation Plan. Each unit is economically equivalent to one share of PNC common stock and will be settled in cash upon distribution.
• Post-transaction balances: 鈥� Phantom stock units held indirectly: 4,539 鈥� Phantom stock units held under the Outside Directors Deferred Stock Unit Plan: 2,062 鈥� Deferred Stock Units (DSUs) held directly under the Directors Deferred Stock Unit Program: 11,437
• No derivative securities expired, and no open-market purchases or sales of common shares occurred; all activity was plan-based and exempt from short-swing profit rules.

Because phantom and deferred stock units are settled in cash or stock at retirement and do not immediately affect the share count outstanding, the filing has minimal direct impact on PNC鈥檚 capital structure or daily trading liquidity. Nevertheless, the additional units modestly increase the director鈥檚 economic alignment with shareholders.

Circle Internet Group, Inc. (CRCL) Form 4 filing 鈥� 07/01/2025 transactions by President & CLO Heath Tarbert

• Option exercise: Tarbert exercised 7,970 stock options at an exercise price of $25.09, paying the strike price in cash (Transaction Code M). The option originally granted on 09/02/2023 has a 10-year term and a standard 25% cliff/36-month monthly vesting schedule.
• Tax withholding: 5,555 Class A shares (Code F) were automatically withheld at a reported market value of $181.29 per share to satisfy federal tax obligations on previously vested RSUs.
• Post-transaction ownership: Tarbert now holds 85,144 shares outright, 558,207 shares underlying outstanding RSUs, and 931,998 unexercised options. His direct Class A common stock ownership increased to 643,351 shares.
• No sale of shares into the market was disclosed; cash payment for the option strike suggests a net increase in insider equity exposure.

The filing reflects routine equity-compensation activity rather than a strategic share sale or purchase and therefore carries limited immediate market impact.