Warrants (CUSIP No.: 693475121; NYSE Symbol: PNC WS)
The Warrants expired effective December 31, 2018 and may no longer be exercised. The table below summarizes certain adjustments made to the Exercise Price and Warrant Share Number in connection with each quarterly common stock dividend in excess of $0.66 per share declared prior to the expiration of the Warrants. The warrant agreement contains additional information regarding any adjustment.
(1) In accordance with the terms of the Warrant Certificate, no adjustment was required for the Warrant Share Number as a result of the dividend declared on October 4, 2018 because the amount of the adjustment was less than 1/10th of a share of PNC common stock, but such amount was carried forward and an adjustment to the Warrant Share Number to 1.01 was effective upon exercise for Warrants exercised following the October 17, 2018 dividend record date.