PPL Corp. director Armando Zagalo de Lima reported a change in beneficial ownership on July 1, 2026, in a Form 4 filed the following day. The filing concerns derivative securities held under PPL’s Directors Deferred Compensation Plan, or DDCP, rather than an open-market purchase or sale of PPL common stock. The reported securities appear to represent deferred compensation interests tied to PPL shares. Under the DDCP, no conversion or exercise price applies, because the underlying securities are paid out after a director’s retirement rather than exercised like stock options. The filing also notes that the reported total includes reinvested dividends, indicating that at least part of the ownership change may reflect dividend reinvestment within the deferred compensation account. The document does not provide, in the available text, the specific number of derivative securities acquired or disposed of, the transaction code, any transaction price, or the exact number of securities beneficially owned after the reported transaction. It also does not describe an option grant, option exercise, or sale. Instead, the key disclosure is an update to de Lima’s derivative security holdings under the director deferred compensation arrangement. The Form 4 was signed on July 2, 2026, by W. Eric Marr as attorney-in-fact for Armando Zagalo de Lima. While the filing signals a reportable insider ownership change, the disclosed notes suggest an administrative or plan-related adjustment—potentially including dividend reinvestment—rather than a discretionary trading transaction by the director.