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
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Taylor David S 2. Issuer Name and Ticker or Trading Symbol PROCTER & GAMBLE Co [ PG ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chairman, President & CEO
(Last)         (First)         (Middle)
ONE PROCTER & GAMBLE PLAZA
3. Date of Earliest Transaction (MM/DD/YYYY)
5/20/2021
(Street)
CINCINNATI, OH 45202
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  5/20/2021    M    56202  A $85.13  297007.6999 (1) D   
Common Stock  5/20/2021    S    56202  D $138.5027 (2) 240805.6999  D   
Common Stock                 31459.4818  I  By Retirement Plan Trustees 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units   (3) 5/17/2021    A     15.5026       (4)  (4) Common Stock  15.5026  $0  45.1745  D   
Stock Option (Right to Buy)  $85.13  5/20/2021    M        56202   2/27/2018  2/27/2025  Common Stock  56202  $0  0  D   

Explanation of Responses:
(1)  Total includes grant of dividend equivalents in the form of Restricted Stock Units (RSU's) settled in common stock.
(2)  Weighted average price of the shares sold. The price range was $138.50 to $138.52. Full information regarding the number of shares sold at each separate price available upon request.
(3)  Dividend equivalents in the form of Restricted Stock Units (RSUs) previously awarded pursuant to issuer's retirement program. All such RSUs represent a contingent right to receive Procter & Gamble common stock.
(4)  These units will deliver in shares on retirement from the company, unless delivery is deferred or such shares are contributed to reporting person's deferred compensation account.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Taylor David S
ONE PROCTER & GAMBLE PLAZA
CINCINNATI, OH 45202
X
Chairman, President & CEO

Signatures
/s/ Aaron B. Shepherd, attorney-in-fact for David S. Taylor 5/21/2021
**Signature of Reporting Person Date
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