FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF
SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or
Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person * | 2. Issuer Name and Ticker or Trading Symbol | 5. Relationship of Reporting Person(s) to Issuer |
(Check all applicable) |
JOHNSON WILLIAM D | PG&E Corp [ PCG ] | _____ Director | _____ 10% Owner | ||||||||||||||||||||||||||
(Last) | (First) | (Middle) | 3. Date of Earliest Transaction (MM/DD/YYYY) | ||||||||||||||||||||||||||
__X__ Officer (give title below) _____ Other (specify below) | |||||||||||||||||||||||||||||
C/O PG&E CORPORATION, 77 | 2/21/2020 | CEO and President | |||||||||||||||||||||||||||
BEALE ST., P.O. BOX 770000 | |||||||||||||||||||||||||||||
(Street) | 4. If Amendment, Date Original Filed (MM/DD/YYYY) | 6. Individual or Joint/Group Filing (Check Applicable Line) | |||||||||||||||||||||||||||
SAN FRANCISCO, CA 94177 | _X _ Form filed by One Reporting Person | ||||||||||||||||||||||||||||
(City) | (State) | (Zip) | ___ Form filed by More than One Reporting Person | ||||||||||||||||||||||||||
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | |||||||||||||||||||||||||||||
1.Title of Security | 2. Trans. Date | 2A. Deemed | 3. Trans. Code | 4. Securities Acquired (A) | 5. Amount of Securities Beneficially Owned | 6. | 7. Nature of | ||||||||||||||||||||||
(Instr. 3) | Execution | (Instr. 8) | or Disposed of (D) | Following Reported Transaction(s) | Ownership | Indirect | |||||||||||||||||||||||
Date, if any | (Instr. 3, 4 and 5) | (Instr. 3 and 4) | Form: | Beneficial | |||||||||||||||||||||||||
Direct (D) | Ownership | ||||||||||||||||||||||||||||
or Indirect | (Instr. 4) | ||||||||||||||||||||||||||||
(A) or | (I) (Instr. | ||||||||||||||||||||||||||||
Code | V | Amount | (D) | Price | 4) | ||||||||||||||||||||||||
Common Stock | 2/21/2020 | A | 96240 (1) | A | $0 | 127653 | D | ||||||||||||||||||||||
Common Stock | 2/21/2020 | F | 39346 | D | $17.92 | 88307 | D | ||||||||||||||||||||||
Held by | |||||||||||||||||||||||||||||
Trustee of | |||||||||||||||||||||||||||||
1022.4 (2) | PG&E | ||||||||||||||||||||||||||||
Common Stock | I | Corporation | |||||||||||||||||||||||||||
Retirement | |||||||||||||||||||||||||||||
Savings | |||||||||||||||||||||||||||||
Plan | |||||||||||||||||||||||||||||
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||||||||||||||||
1. Title of Derivate | 2. | 3. Trans. | 3A. Deemed | 4. Trans. | 5. Number of | 6. Date Exercisable and | 7. Title and Amount of | 8. Price of | 9. Number of | 10. | 11. Nature | ||||||||||||||||||
Security | Conversion | Date | Execution | Code | Derivative Securities | Expiration Date | Securities Underlying | Derivative | derivative | Ownership | of Indirect | ||||||||||||||||||
(Instr. 3) | or Exercise | Date, if any | (Instr. 8) | Acquired (A) or | Derivative Security | Security | Securities | Form of | Beneficial | ||||||||||||||||||||
Price of | Disposed of (D) | (Instr. 3 and 4) | (Instr. 5) | Beneficially | Derivative | Ownership | |||||||||||||||||||||||
Derivative | (Instr. 3, 4 and 5) | Owned | Security: | (Instr. 4) | |||||||||||||||||||||||||
Security | Amount or | Following | Direct (D) | ||||||||||||||||||||||||||
Date | Expiration | Reported | or Indirect | ||||||||||||||||||||||||||
Code | V | (A) | (D) | Exercisable | Date | Title | Number of | Transaction(s) | (I) (Instr. | ||||||||||||||||||||
Shares | (Instr. 4) | 4) | |||||||||||||||||||||||||||
Stock Option | $25.00 | 2/21/2020 | A | 272266 | 8/14/2023 | Common | 272266 | $0 | 272266 | D | |||||||||||||||||||
(Right to Buy) | Stock | ||||||||||||||||||||||||||||
Stock Option | $40.00 | 2/21/2020 | A | 340333 | 8/14/2023 | Common | 340333 | $0 | 340333 | D | |||||||||||||||||||
(Right to Buy) | Stock | ||||||||||||||||||||||||||||
Stock Option | $50.00 | 2/21/2020 | A | 363022 | 8/14/2024 | Common | 363022 | $0 | 363022 | D | |||||||||||||||||||
(Right to Buy) | Stock | ||||||||||||||||||||||||||||
Explanation of Responses:
- Vested performance shares granted under the PG&E Corporation 2014 Long-Term Incentive Plan for the performance cycle ended 12/31/2019. Performance shares are payable in shares of PG&E Corporation common stock on a one-for-one basis. These performance shares were awarded in accordance with equity incentive compensation arrangements disclosed in Form 8-Ks dated 4/10/2019 and 6/14/2019.
- Represents the approximate number of shares of PG&E Corporation common stock held for the reporting person in the PG&E Corporation Stock Fund of the PG&E Corporation Retirement Savings Plan (RSP). That fund holds units consisting of PG&E Corporation common stock and a small short-term investments component. The number of shares is computed by dividing the value of the units by the daily closing price. Dividends are automatically invested in additional units at the election of the participant. These holdings have been trued up to conform to the RSP balance as of 2/21/20.
- On August 14, 2019, the reporting person was granted an option to purchase 800,000 shares of common stock. The option vests in three equal installments and the number of options that the reporting person is entitled to exercise is based on the Compensation Committee's certification of the extent to which certain performance goals have been met for each of the fiscal years ending December 31, 2019, 2020, and 2021. These performance-based option awards were made in accordance with equity incentive compensation arrangements disclosed in Form 8-Ks dated 4/10/2019 and 6/14/2019.
- On August 14, 2019, the reporting person was granted an option to purchase 1,000,000 shares of common stock. The option vests in three equal installments and the number of options that the reporting person is entitled to exercise is based on the Compensation Committee's certification of the extent to which certain performance goals have been met for each of the fiscal years ending December 31, 2019, 2020, and 2021. These performance-based option awards were made in accordance with equity incentive compensation arrangements disclosed in Form 8-Ks dated 4/10/2019 and 6/14/2019.
- On August 14, 2019, the reporting person was granted an option to purchase 1,066,667 shares of common stock. The option vests in three equal installments and the number of options that the reporting person is entitled to exercise is based on the Compensation Committee's certification of the extent to which certain performance goals have been met for each of the fiscal years ending December 31, 2019, 2020, and 2021. These performance-based option awards were made in accordance with equity incentive compensation arrangements disclosed in Form 8-Ks dated 4/10/2019 and 6/14/2019.
Reporting Owners
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
JOHNSON WILLIAM D | ||||
C/O PG&E CORPORATION | CEO and President | |||
77 BEALE ST., P.O. BOX 770000 | ||||
SAN FRANCISCO, CA 94177 |
Signatures
/s/ Linda Y. H. Cheng, attorney-in-fact for William D. Johnson (signed power of attorney on file with SEC)
**Signature of Reporting Person
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
2/25/2020
Date
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Disclaimer
PG&E Corporation published this content on 25 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 February 2020 01:12:03 UTC