Alejandro T. Vallejo, Executive Vice President and Chief People Officer of PG&E Corp (NYSE:PCG), filed a Form 4 on August 25, 2026, disclosing the acquisition of phantom stock units on August 21, 2026.

Key Highlights

  • Reporting person: Alejandro T. Vallejo, EVP and Chief People Officer of PG&E Corp
  • Transaction date: August 21, 2026, involving phantom stock under derivative securities
  • Units acquired: 420.71 shares of phantom stock at a price of $17.6 per unit
  • Beneficial ownership following transaction: 34,930.54 phantom stock units, held directly
  • Acquisition basis: Deferral of compensation under the SRSP and credits under the DC-ESRP, each exempt under Rule 16b-3(d)
  • Cash settlement: Each phantom stock unit is the economic equivalent of one share of common stock and becomes payable in cash following termination of service as an officer

Vallejo Phantom Stock Acquisition Under PG&E Supplemental Retirement Plans

According to the filing, Alejandro T. Vallejo acquired 420.71 units of phantom stock in PG&E Corp on August 21, 2026. The transaction is reported in Table II as a derivative security acquisition, coded "A" for acquired. The price of the derivative security is listed as $17.6, and the underlying security is PG&E Corp common stock, with 420.71 shares as the equivalent amount.

The filing explains that each share of phantom stock "is the economic equivalent of one share of common stock and becomes payable in cash following the reporting person's termination of service as an officer." The acquisition arose from two sources: deferral of compensation under the PG&E Corporation 2005 Supplemental Retirement Savings Plan (SRSP) and credits awarded to the reporting person's account under the PG&E Corporation Defined Contribution Executive Supplemental Retirement Plan (DC-ESRP). The filing notes both are "exempt under Rule 16b-3(d)." Following the reported transaction, Vallejo beneficially owned 34,930.54 phantom stock units, held directly.

The filing also discloses that Vallejo may transfer his phantom stock account into an alternative investment account at any time, subject to the terms of the SRSP and DC-ESRP. The Form 4 was signed by Christine Zhang as attorney-in-fact for Alejandro T. Vallejo, pursuant to a signed Power of Attorney on file with the SEC, and was dated August 25, 2026.

What Was Disclosed

PG&E Corp's EVP and Chief People Officer disclosed the acquisition of 420.71 phantom stock units on August 21, 2026, at $17.6 per unit, through compensation deferrals and plan credits, bringing his total direct phantom stock ownership to 34,930.54 units.