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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.
La comunicazione del Modulo 4 per The PNC Financial Services Group, Inc. (PNC) riporta l'attivit脿 interna della direttrice Marjorie Rodgers Cheshire datata 1 luglio 2025.
- La direttrice ha acquisito 224 unit脿 di azioni fantasma a un prezzo di riferimento sottostante di 192,52 dollari. Ogni unit脿 rappresenta economicamente una azione ordinaria PNC e sar脿 liquidata in contanti nell'ambito del Piano di Compensazione Differita.
- Dopo questa operazione, Cheshire detiene beneficiariamente 5.799 unit脿 fantasma nel Piano di Compensazione Differita, 4.114 unit脿 fantasma nel Piano per le Azioni Fantasma dei Direttori Esterni, e 11.437 unit脿 azionarie differite (DSU) concesse attraverso il Programma di Unit脿 Azionarie Differite per Direttori di PNC.
- Non sono state vendute o cedute azioni ordinarie; tutti i titoli segnalati sono stati acquisiti o rappresentano equivalenti di dividendi maturati, evidenziando un aumento incrementale dell'esposizione economica della direttrice verso PNC.
- Tutti gli strumenti sono o indiretti (unit脿 fantasma detenute nel piano) o diretti (DSU), con liquidazione in contanti o azioni al momento del pensionamento secondo i termini del piano.
La comunicazione riflette accantonamenti di compensi di routine piuttosto che acquisti sul mercato aperto, ma l'assenza di vendite indica un continuo allineamento degli interessi della direttrice con quelli degli azionisti.
La presentaci贸n del Formulario 4 para The PNC Financial Services Group, Inc. (PNC) detalla la actividad interna de la directora Marjorie Rodgers Cheshire con fecha 1 de julio de 2025.
- La directora adquiri贸 224 unidades de acciones fantasma a un precio de referencia subyacente de $192.52. Cada unidad representa econ贸micamente una acci贸n com煤n de PNC y se liquidar谩 en efectivo bajo el Plan de Compensaci贸n Diferida.
- Tras la transacci贸n, Cheshire posee beneficiosamente 5,799 unidades fantasma en el Plan de Compensaci贸n Diferida, 4,114 unidades fantasma bajo el Plan de Unidades de Acciones Diferidas para Directores Externos, y 11,437 unidades de acciones diferidas (DSUs) otorgadas a trav茅s del Programa de Unidades de Acciones Diferidas para Directores de PNC.
- No se vendieron ni dispusieron acciones comunes; todos los valores reportados fueron adquiridos o representan equivalentes de dividendos acumulados, indicando un aumento incremental en la exposici贸n econ贸mica de la directora a PNC.
- Todos los instrumentos son indirectos (unidades fantasma mantenidas en el plan) o directos (DSUs), con liquidaci贸n en efectivo o acciones al momento de la jubilaci贸n seg煤n los t茅rminos del plan.
La presentaci贸n refleja acumulaciones relacionadas con la compensaci贸n rutinaria m谩s que compras en el mercado abierto, pero la ausencia de ventas se帽ala una continua alineaci贸n de los intereses de la directora con los de los accionistas.
PNC Financial Services Group, Inc. (PNC)鞚� Form 4 鞝滌稖鞚� 2025雲� 7鞗� 1鞚�鞛� 鞚挫偓 Marjorie Rodgers Cheshire鞚� 雮措秬鞛� 瓯半灅 雮挫棴鞚� 靸侅劯頌� 靹る獏頃╇媹雼�.
- 頃措嫻 鞚挫偓電� 旮办磮 旮办 臧�瓴� $192.52鞐� 224臧滌潣 韺厐 鞀ろ啞 鞙犽嫑鞚� 旆摑頄堨姷雼堧嫟. 臧� 鞙犽嫑鞚� PNC 氤错喌欤� 1欤检檧 瓴届牅鞝侅溂搿� 霃欖澕頃橂┌, 鞐瓣赴 氤挫儊 瓿勴殟鞐� 霐半澕 順勱笀鞙茧 鞝曥偘霅╇媹雼�.
- 瓯半灅 頉� Cheshire電� 鞐瓣赴 氤挫儊 瓿勴殟 雮挫棎靹� 5,799臧滌潣 韺厐 鞙犽嫑, 鞕鸽秬 鞚挫偓 鞐瓣赴 欤检嫕 鞙犽嫑 瓿勴殟鞐愳劀 4,114臧滌潣 韺厐 鞙犽嫑, 攴鸽Μ瓿� PNC 鞚挫偓 鞐瓣赴 欤检嫕 鞙犽嫑 頂勲攴鸽灗鞚� 韱淀暣 攵�鞐悳 11,437臧滌潣 鞐瓣赴 欤检嫕 鞙犽嫑(DSU)毳� 鞁れ鞝侅溂搿� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
- 氤错喌欤茧姅 韺愲Г霅橁卑雮� 觳橂秳霅橃 鞎婌晿鞙茧┌, 氤搓碃霅� 氇摖 歃濌秾鞚� 旆摑霅橃棃瓯半倶 雸勳爜霅� 氚半嫻旮� 靸侂嫻鞎§潉 雮橅儉雮挫柎 鞚挫偓鞚� PNC鞐� 雽�頃� 瓴届牅鞝� 雲胳稖鞚� 鞝愳鞝侅溂搿� 歃濌皜頄堨潓鞚� 鞚橂頃╇媹雼�.
- 氇摖 靾橂嫧鞚� 臧勳爲鞝�(瓿勴殟 氤挫湢 韺厐 鞙犽嫑) 霕愲姅 歆侅爲鞝�(DSU)鞚措┌, 韲挫 鞁� 瓿勴殟 臁瓣贝鞐� 霐半澕 順勱笀 霕愲姅 欤检嫕鞙茧 鞝曥偘霅╇媹雼�.
鞚措矆 鞝滌稖鞚� 瓿店皽 鞁滌灔鞐愳劀鞚� 毵れ垬氤措嫟電� 鞚检儊鞝侅澑 氤挫儊 甏�霠� 鞝侂鞚� 氚橃榿頃橃毵�, 毵る弰 攵�鞛姅 鞚挫偓鞚� 鞚错暣甏�瓿勱皜 欤检＜霌り臣 瓿勳啀 鞚检箻頃潉 雮橅儉雰呺媹雼�.
Le d茅p么t du formulaire 4 pour The PNC Financial Services Group, Inc. (PNC) d茅taille l'activit茅 d'initi茅 de la directrice Marjorie Rodgers Cheshire dat茅e du 1er juillet 2025.
- La directrice a acquis 224 unit茅s d'actions fant么mes 脿 un prix de r茅f茅rence sous-jacent de 192,52 $. Chaque unit茅 repr茅sente 茅conomiquement une action ordinaire de PNC et sera r茅gl茅e en esp猫ces dans le cadre du Plan de R茅mun茅ration Diff茅r茅e.
- Suite 脿 cette transaction, Cheshire d茅tient b茅n茅ficiairement 5 799 unit茅s fant么mes dans le Plan de R茅mun茅ration Diff茅r茅e, 4 114 unit茅s fant么mes dans le Plan d'Unit茅s d'Actions Diff茅r茅es pour Administrateurs Externes, et 11 437 unit茅s d'actions diff茅r茅es (DSU) attribu茅es via le Programme d'Unit茅s d'Actions Diff茅r茅es pour Administrateurs de PNC.
- Aucune action ordinaire n'a 茅t茅 vendue ou c茅d茅e ; tous les titres d茅clar茅s ont 茅t茅 acquis ou repr茅sentent des 茅quivalents de dividendes accumul茅s, indiquant une augmentation progressive de l'exposition 茅conomique de la directrice 脿 PNC.
- Tous les instruments sont soit indirects (unit茅s fant么mes d茅tenues par le plan) soit directs (DSU), avec un r猫glement en esp猫ces ou en actions 脿 la retraite selon les termes du plan.
Le d茅p么t refl猫te des provisions li茅es 脿 la r茅mun茅ration de routine plut么t que des achats sur le march茅 ouvert, mais l'absence de ventes indique un alignement continu des int茅r锚ts de la directrice avec ceux des actionnaires.
Die Form 4-Meldung f眉r The PNC Financial Services Group, Inc. (PNC) beschreibt Insideraktivit盲ten der Direktorin Marjorie Rodgers Cheshire vom 1. Juli 2025.
- Die Direktorin hat 224 Phantom-Aktieneinheiten zu einem zugrunde liegenden Referenzpreis von 192,52 USD erworben. Jede Einheit entspricht wirtschaftlich einer PNC-Stammaktie und wird im Rahmen des Deferred Compensation Plans in bar abgewickelt.
- Nach der Transaktion besitzt Cheshire wirtschaftlich 5.799 Phantom-Einheiten im Deferred Compensation Plan, 4.114 Phantom-Einheiten im Outside Directors Deferred Stock Unit Plan und 11.437 Deferred Stock Units (DSUs), die im Rahmen des Directors Deferred Stock Unit Program von PNC gew盲hrt wurden.
- Es wurden keine Stammaktien verkauft oder ver盲u脽ert; alle gemeldeten Wertpapiere wurden erworben oder stellen angesammelte Dividenden盲quivalente dar, was auf eine zunehmende wirtschaftliche Beteiligung der Direktorin an PNC hinweist.
- Alle Instrumente sind entweder indirekt (plangehaltene Phantom-Einheiten) oder direkt (DSUs) und werden bei Renteneintritt gem盲脽 den Planbedingungen in bar oder Aktien abgewickelt.
Die Meldung spiegelt routinem盲脽ige verg眉tungsbezogene R眉ckstellungen wider und keine K盲ufe am offenen Markt, doch das Fehlen von Verk盲ufen signalisiert eine fortgesetzte 脺bereinstimmung der Interessen der Direktorin mit denen der Aktion盲re.
- Director increased economic exposure by acquiring 224 additional phantom stock units, signaling continued alignment with shareholders.
- No shares were sold or disposed, avoiding any negative perception linked to insider selling.
- None.
Insights
TL;DR: Director adds 224 phantom units, raising total economic stake; small, routine, modestly positive signal.
The transaction is entirely plan-based and cash-settled, so it does not involve direct cash outlay or secondary-market activity. However, it modestly increases the director鈥檚 theoretical share-equivalent exposure from 21,126 to 21,350 units (phantom + DSUs combined). Because there are no dispositions, it can be viewed as a positive governance indicator, albeit not materially impactful to PNC鈥檚 overall valuation. Investors typically view insider accumulation鈥攈owever small鈥攁s a vote of confidence, but the absence of open-market buying and the cash-settlement nature tempers the signal.
TL;DR: Routine deferred-comp accrual, neutral valuation impact, modestly supportive of alignment.
Cheshire鈥檚 filing shows continued participation in PNC鈥檚 director compensation programs, with phantom units and DSUs accruing dividend equivalents. These awards are standard for board compensation and indicate adherence to long-term alignment policies. Because awards are formulaic and do not represent discretionary purchases, they carry limited predictive power for future stock performance. Nonetheless, the lack of any sales or hedging keeps governance optics positive. From a stewardship standpoint, the filing is neutral-to-slightly positive but not impactful for investment decisions.
La comunicazione del Modulo 4 per The PNC Financial Services Group, Inc. (PNC) riporta l'attivit脿 interna della direttrice Marjorie Rodgers Cheshire datata 1 luglio 2025.
- La direttrice ha acquisito 224 unit脿 di azioni fantasma a un prezzo di riferimento sottostante di 192,52 dollari. Ogni unit脿 rappresenta economicamente una azione ordinaria PNC e sar脿 liquidata in contanti nell'ambito del Piano di Compensazione Differita.
- Dopo questa operazione, Cheshire detiene beneficiariamente 5.799 unit脿 fantasma nel Piano di Compensazione Differita, 4.114 unit脿 fantasma nel Piano per le Azioni Fantasma dei Direttori Esterni, e 11.437 unit脿 azionarie differite (DSU) concesse attraverso il Programma di Unit脿 Azionarie Differite per Direttori di PNC.
- Non sono state vendute o cedute azioni ordinarie; tutti i titoli segnalati sono stati acquisiti o rappresentano equivalenti di dividendi maturati, evidenziando un aumento incrementale dell'esposizione economica della direttrice verso PNC.
- Tutti gli strumenti sono o indiretti (unit脿 fantasma detenute nel piano) o diretti (DSU), con liquidazione in contanti o azioni al momento del pensionamento secondo i termini del piano.
La comunicazione riflette accantonamenti di compensi di routine piuttosto che acquisti sul mercato aperto, ma l'assenza di vendite indica un continuo allineamento degli interessi della direttrice con quelli degli azionisti.
La presentaci贸n del Formulario 4 para The PNC Financial Services Group, Inc. (PNC) detalla la actividad interna de la directora Marjorie Rodgers Cheshire con fecha 1 de julio de 2025.
- La directora adquiri贸 224 unidades de acciones fantasma a un precio de referencia subyacente de $192.52. Cada unidad representa econ贸micamente una acci贸n com煤n de PNC y se liquidar谩 en efectivo bajo el Plan de Compensaci贸n Diferida.
- Tras la transacci贸n, Cheshire posee beneficiosamente 5,799 unidades fantasma en el Plan de Compensaci贸n Diferida, 4,114 unidades fantasma bajo el Plan de Unidades de Acciones Diferidas para Directores Externos, y 11,437 unidades de acciones diferidas (DSUs) otorgadas a trav茅s del Programa de Unidades de Acciones Diferidas para Directores de PNC.
- No se vendieron ni dispusieron acciones comunes; todos los valores reportados fueron adquiridos o representan equivalentes de dividendos acumulados, indicando un aumento incremental en la exposici贸n econ贸mica de la directora a PNC.
- Todos los instrumentos son indirectos (unidades fantasma mantenidas en el plan) o directos (DSUs), con liquidaci贸n en efectivo o acciones al momento de la jubilaci贸n seg煤n los t茅rminos del plan.
La presentaci贸n refleja acumulaciones relacionadas con la compensaci贸n rutinaria m谩s que compras en el mercado abierto, pero la ausencia de ventas se帽ala una continua alineaci贸n de los intereses de la directora con los de los accionistas.
PNC Financial Services Group, Inc. (PNC)鞚� Form 4 鞝滌稖鞚� 2025雲� 7鞗� 1鞚�鞛� 鞚挫偓 Marjorie Rodgers Cheshire鞚� 雮措秬鞛� 瓯半灅 雮挫棴鞚� 靸侅劯頌� 靹る獏頃╇媹雼�.
- 頃措嫻 鞚挫偓電� 旮办磮 旮办 臧�瓴� $192.52鞐� 224臧滌潣 韺厐 鞀ろ啞 鞙犽嫑鞚� 旆摑頄堨姷雼堧嫟. 臧� 鞙犽嫑鞚� PNC 氤错喌欤� 1欤检檧 瓴届牅鞝侅溂搿� 霃欖澕頃橂┌, 鞐瓣赴 氤挫儊 瓿勴殟鞐� 霐半澕 順勱笀鞙茧 鞝曥偘霅╇媹雼�.
- 瓯半灅 頉� Cheshire電� 鞐瓣赴 氤挫儊 瓿勴殟 雮挫棎靹� 5,799臧滌潣 韺厐 鞙犽嫑, 鞕鸽秬 鞚挫偓 鞐瓣赴 欤检嫕 鞙犽嫑 瓿勴殟鞐愳劀 4,114臧滌潣 韺厐 鞙犽嫑, 攴鸽Μ瓿� PNC 鞚挫偓 鞐瓣赴 欤检嫕 鞙犽嫑 頂勲攴鸽灗鞚� 韱淀暣 攵�鞐悳 11,437臧滌潣 鞐瓣赴 欤检嫕 鞙犽嫑(DSU)毳� 鞁れ鞝侅溂搿� 氤挫湢頃橁碃 鞛堨姷雼堧嫟.
- 氤错喌欤茧姅 韺愲Г霅橁卑雮� 觳橂秳霅橃 鞎婌晿鞙茧┌, 氤搓碃霅� 氇摖 歃濌秾鞚� 旆摑霅橃棃瓯半倶 雸勳爜霅� 氚半嫻旮� 靸侂嫻鞎§潉 雮橅儉雮挫柎 鞚挫偓鞚� PNC鞐� 雽�頃� 瓴届牅鞝� 雲胳稖鞚� 鞝愳鞝侅溂搿� 歃濌皜頄堨潓鞚� 鞚橂頃╇媹雼�.
- 氇摖 靾橂嫧鞚� 臧勳爲鞝�(瓿勴殟 氤挫湢 韺厐 鞙犽嫑) 霕愲姅 歆侅爲鞝�(DSU)鞚措┌, 韲挫 鞁� 瓿勴殟 臁瓣贝鞐� 霐半澕 順勱笀 霕愲姅 欤检嫕鞙茧 鞝曥偘霅╇媹雼�.
鞚措矆 鞝滌稖鞚� 瓿店皽 鞁滌灔鞐愳劀鞚� 毵れ垬氤措嫟電� 鞚检儊鞝侅澑 氤挫儊 甏�霠� 鞝侂鞚� 氚橃榿頃橃毵�, 毵る弰 攵�鞛姅 鞚挫偓鞚� 鞚错暣甏�瓿勱皜 欤检＜霌り臣 瓿勳啀 鞚检箻頃潉 雮橅儉雰呺媹雼�.
Le d茅p么t du formulaire 4 pour The PNC Financial Services Group, Inc. (PNC) d茅taille l'activit茅 d'initi茅 de la directrice Marjorie Rodgers Cheshire dat茅e du 1er juillet 2025.
- La directrice a acquis 224 unit茅s d'actions fant么mes 脿 un prix de r茅f茅rence sous-jacent de 192,52 $. Chaque unit茅 repr茅sente 茅conomiquement une action ordinaire de PNC et sera r茅gl茅e en esp猫ces dans le cadre du Plan de R茅mun茅ration Diff茅r茅e.
- Suite 脿 cette transaction, Cheshire d茅tient b茅n茅ficiairement 5 799 unit茅s fant么mes dans le Plan de R茅mun茅ration Diff茅r茅e, 4 114 unit茅s fant么mes dans le Plan d'Unit茅s d'Actions Diff茅r茅es pour Administrateurs Externes, et 11 437 unit茅s d'actions diff茅r茅es (DSU) attribu茅es via le Programme d'Unit茅s d'Actions Diff茅r茅es pour Administrateurs de PNC.
- Aucune action ordinaire n'a 茅t茅 vendue ou c茅d茅e ; tous les titres d茅clar茅s ont 茅t茅 acquis ou repr茅sentent des 茅quivalents de dividendes accumul茅s, indiquant une augmentation progressive de l'exposition 茅conomique de la directrice 脿 PNC.
- Tous les instruments sont soit indirects (unit茅s fant么mes d茅tenues par le plan) soit directs (DSU), avec un r猫glement en esp猫ces ou en actions 脿 la retraite selon les termes du plan.
Le d茅p么t refl猫te des provisions li茅es 脿 la r茅mun茅ration de routine plut么t que des achats sur le march茅 ouvert, mais l'absence de ventes indique un alignement continu des int茅r锚ts de la directrice avec ceux des actionnaires.
Die Form 4-Meldung f眉r The PNC Financial Services Group, Inc. (PNC) beschreibt Insideraktivit盲ten der Direktorin Marjorie Rodgers Cheshire vom 1. Juli 2025.
- Die Direktorin hat 224 Phantom-Aktieneinheiten zu einem zugrunde liegenden Referenzpreis von 192,52 USD erworben. Jede Einheit entspricht wirtschaftlich einer PNC-Stammaktie und wird im Rahmen des Deferred Compensation Plans in bar abgewickelt.
- Nach der Transaktion besitzt Cheshire wirtschaftlich 5.799 Phantom-Einheiten im Deferred Compensation Plan, 4.114 Phantom-Einheiten im Outside Directors Deferred Stock Unit Plan und 11.437 Deferred Stock Units (DSUs), die im Rahmen des Directors Deferred Stock Unit Program von PNC gew盲hrt wurden.
- Es wurden keine Stammaktien verkauft oder ver盲u脽ert; alle gemeldeten Wertpapiere wurden erworben oder stellen angesammelte Dividenden盲quivalente dar, was auf eine zunehmende wirtschaftliche Beteiligung der Direktorin an PNC hinweist.
- Alle Instrumente sind entweder indirekt (plangehaltene Phantom-Einheiten) oder direkt (DSUs) und werden bei Renteneintritt gem盲脽 den Planbedingungen in bar oder Aktien abgewickelt.
Die Meldung spiegelt routinem盲脽ige verg眉tungsbezogene R眉ckstellungen wider und keine K盲ufe am offenen Markt, doch das Fehlen von Verk盲ufen signalisiert eine fortgesetzte 脺bereinstimmung der Interessen der Direktorin mit denen der Aktion盲re.
FAQ
What insider transaction did PNC director Marjorie Rodgers Cheshire file on July 1, 2025?
How many PNC phantom stock units does the director now hold?
What are Deferred Stock Units (DSUs) in PNC's Form 4?
Did the director sell any PNC shares in this filing?
Do phantom stock units impact PNC's share count?
