PPL Corp. director Kenneth Michael Hartwick reported a change in his beneficial ownership of derivative securities on July 22, 2026, according to a Form 4 filed the following day. The reported securities relate to PPL’s Directors Deferred Compensation Plan, or DDCP, rather than a conventional open-market purchase or sale of common stock. The filing indicates that the derivative securities are payable under the terms of the DDCP after a director’s retirement. Because of that structure, the report notes that no conversion or exercise price applies. In other words, the reported interest appears to represent deferred stock-based compensation tied to PPL shares, not options or warrants that Hartwick can exercise at a set price. The filing also states that the total amount reported includes the reinvestment of dividends. That means Hartwick’s deferred balance may have increased through dividend credits under the plan, a common feature of director deferred compensation arrangements. The excerpted filing does not provide the specific number of derivative securities acquired, disposed of, or beneficially owned after the transaction, nor does it show a transaction code, price, or final ownership figure. The report was signed on Hartwick’s behalf by W. Eric Marr as attorney-in-fact on July 23, 2026.