<SEC-DOCUMENT>0000950170-25-012380.txt : 20250203
<SEC-HEADER>0000950170-25-012380.hdr.sgml : 20250203
<ACCEPTANCE-DATETIME>20250203164305
ACCESSION NUMBER:		0000950170-25-012380
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250130
FILED AS OF DATE:		20250203
DATE AS OF CHANGE:		20250203

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Martin Christine M
		CENTRAL INDEX KEY:			0002005520
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11459
		FILM NUMBER:		25583206

	MAIL ADDRESS:	
		STREET 1:		TWO NORTH NINTH STREET
		CITY:			ALLENTOWN
		STATE:			PA
		ZIP:			18101

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PPL Corp
		CENTRAL INDEX KEY:			0000922224
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				232758192
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		TWO N NINTH ST
		CITY:			ALLENTOWN
		STATE:			PA
		ZIP:			18101-1179
		BUSINESS PHONE:		610-774-5151

	MAIL ADDRESS:	
		STREET 1:		TWO N NINTH ST
		CITY:			ALLENTOWN
		STATE:			PA
		ZIP:			18101-1179

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PPL CORP
		DATE OF NAME CHANGE:	20000214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PP&L RESOURCES INC
		DATE OF NAME CHANGE:	19941123
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
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    <periodOfReport>2025-01-30</periodOfReport>

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        <issuerName>PPL Corp</issuerName>
        <issuerTradingSymbol>PPL</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>Martin Christine M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>645 HAMILTON STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ALLENTOWN</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>18101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>President of a PPL Subsidiary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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                    <value>Held in trust pursuant to the Employee Stock Ownership Plan.</value>
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                    <value>D</value>
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    <footnotes>
        <footnote id="F1">Total includes the reinvestment of dividends.</footnote>
        <footnote id="F2">Shares withheld by the company at the request of the executive officer to pay taxes due following expiration of the applicable restriction period, under the terms of the Incentive Compensation Plan for Key Employees (ICPKE).</footnote>
        <footnote id="F3">No conversion or exercise price applies. Under the terms of the Stock Incentive Plan (SIP), a restricted stock unit converts to a share of common stock on the applicable vesting date.</footnote>
        <footnote id="F4">The total grant of 2,014 restricted stock units will vest in three equal installments on 01/30/2026, 01/30/2027, and 01/30/2028.</footnote>
        <footnote id="F5">As of 02/03/2025, total restricted stock units beneficially owned is 8,060.59. This total includes the 05/25/2022 grant of 429 restricted stock units, the 01/20/2023 grant of 1,784 restricted stock units, the 09/01/2023 grant of 1,212 restricted stock units, and the 01/25/2024 grant of 2,621.69 restricted stock units, plus in the case of the 01/25/2024 grant, the incremental addition of restricted stock units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such restricted stock units, and the 01/30/2025 grant of 2,014 restricted stock units.</footnote>
        <footnote id="F6">No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2027. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2028.</footnote>
        <footnote id="F7">As of 02/03/2025, total performance units beneficially owned is 28,121.306. This total includes the 01/27/2022 grant of 1,917.814 performance units, the three 01/20/2023 grants of (a) 3,831.582 (b) 1,915.792, and (c) 1,915.792 performance units, and the three 01/25/2024 grants of (a) 5,242.146, (b) 2,621.59, and (c) 2,621.59 performance units, plus in each case, the incremental addition of performance units credited to the original grant in amounts equal to dividend equivalents deemed earned on shares underlying such performance units, and the three 01/30/2025 grants of (a) 4,027, (b) 2,014, and (c) 2,014 performance units.</footnote>
        <footnote id="F8">No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's earnings growth over a three-year performance period ending 12/31/2027. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2028.</footnote>
        <footnote id="F9">No conversion or exercise price or exercise or expiration date applies. Under the terms of the Stock Incentive Plan (SIP), all, some or none of the underlying securities will be earned depending on the Company's achievement of certain long-term sustainability-related metrics over a three-year performance period ending 12/31/2027. Determination of number of underlying securities that have been earned, if any, will be made by the People and Compensation Committee in January 2028.</footnote>
        <footnote id="F10">No conversion or exercise price or exercise or expiration date applies. Under the terms of the Incentive Compensation Plan for Key Employees (ICPKE), the underlying securities were earned (157.10%) based on the Company's performance relative to an industry peer group over a three-year performance period ending 12/31/2024. Determination of the percentage of the award earned was made by the People and Compensation Committee on 01/30/2025 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/30/2025.</footnote>
        <footnote id="F11">No conversion or exercise price or exercise or expiration date applies. Under the terms of the Incentive Compensation Plan for Key Employees (ICPKE), the underlying securities were earned (195.64%) based on the Company's achievements of certain ESG-related metrics over a three-year performance period ending 12/31/2024. Determination of the percentage of the award earned was made by the People and Compensation Committee on 01/30/2025 and calculation of the underlying shares to be delivered, net of withholding, was completed on 01/30/2025.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ W. Eric Marr, as Attorney-In-Fact for Christine M. Martin</signatureName>
        <signatureDate>2025-02-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
