PNC Director Richard J. Harshman Acquires Phantom Stock Under Deferred Compensation Plan

Executive Summary

On October 5, 2026, PNC Financial Services Group, Inc. ($PNC) filed a Form 4 reporting an acquisition of derivative securities by Director Richard J. Harshman. On October 1, 2026, Harshman acquired 30 phantom stock units at an equivalent price of $220.75 per share, representing an aggregate value of approximately $6,622.50.

Transaction Details

• Security: Phantom Stock Unit (each economically equivalent to one share of PNC common stock)
• Transaction Code: 'A' (Grant, award, or other acquisition)
• Number of Units: 30
• Price per Unit: $220.75
• Total Value: $6,622.50
• Nature of Ownership: Indirect, held through the PNC Deferred Compensation Plan
• Post-Transaction Holdings: 2,336 phantom stock units indirectly held, plus 9,828 deferred stock units directly held

Analytical Significance

This transaction carries Low market significance. The acquisition represents standard board compensation under the company's deferred compensation plan rather than an open-market purchase or sale. Such automatic or plan-based allocations are customary and do not signal an active directional view by the insider.