PG&E Corp Director Leo P. Denault Acquires Phantom Stock via Fee Deferral

PG&E Corp ($PCG) Insider Transaction Overview

On October 2, 2026, PG&E Corp director Leo P. Denault reported the acquisition of 2,653.06 units of Phantom Stock on September 30, 2026, at an effective price of $12.25 per share, amounting to approximately $32,500.

Key Transaction Elements

• Nature of Transaction: Code 'A' award/grant representing compensation deferral under the company's Deferred Compensation Plan for Non-Employee Directors (exempt under Rule 16b-3(d)).
• Terms: Each phantom share is economically equivalent to one share of PG&E Corp common stock and becomes payable in cash upon termination of board service.
• Holdings Post-Transaction: Following this award, Denault holds 13,654.55 phantom stock units directly. This total also includes 31.33 units acquired via dividend reinvestment on July 15, 2026.

Market & Trading Assessment

• Significance Level: Low.
• Routine non-employee director compensation deferrals do not represent open-market purchases or discretionary directional bets on the company's equity, offering minimal informational signal to market participants.