Henninger Tadd J, SVP-Finance and Treasurer at PPL Corporation, has not made a single open-market purchase of company stock across his 43 reported Form 4 transactions. His entire trading history at the utility is weighted toward sales and equity compensation mechanics, with total sell value of $419,959.38 and zero buy value. The three most recent open-market sales occurred in 2025: $37,638.48 on May 27, $76,117.28 on February 18, and $258,528.10 on February 3. Those three transactions account for roughly 89% of his total sell value, indicating a concentrated disposition pattern in the first half of 2025.
Since late January 2026, Henninger's activity has shifted entirely to automatic and mechanical events—option exercises (code M), shares withheld for tax obligations (code F), and restricted stock grants (code A). For example, on February 20, 2026, he exercised options worth $126,322.56 while simultaneously having $36,354.24 withheld for taxes. Similar paired M and F transactions occurred on January 30 and January 29, 2026, alongside two zero-value grants. These filings do not reflect discretionary selling; they are standard compensation vesting and tax-settlement mechanics.
The absence of any P-coded purchases across all 43 filings is notable for a senior finance officer. Henninger's pattern is consistent with an executive who receives equity compensation, periodically sells shares to diversify or cover obligations, and has not recently signaled conviction through open-market buying. His last discretionary sale was over nine months ago, and the 2026 filings show no new sales—only the routine exercise-and-hold or exercise-and-withhold cycles typical of long-term incentive plans.
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