In these challenging times, it is essential that principals serve as equity-oriented, antiracist, culturally competent leaders accountable for students' performance, school improvement, and policy requirements. Many studies focus on professional development (PD) for teachers but not school leaders, thus the value of the present analysis is that principal PD is the centerpiece. This literature review/conceptual article examines quality PD that advances principals' learning and effectiveness in the context of their changing roles associated with instructional leadership, equity, and technology. The research question was, What does the literature convey about the main influences on effective principal PD that establish the need for equity and antiracism? Sixty-eight scholarly sources were examined in addition to public documents. The authors developed a conceptual framework named Influences on Principal Development to present various factors influencing student achievement. Six findings emerged: principal PD considerations and importance; changes in principal role and reasons for PD; types and practices of PD benefitting principals; barriers to engaging in principal PD; virtual PD platforms and their value; and leveraging virtual PD to support impact. The contribution is to knowledge of the principalship regarding quality PD and the importance of developing equity-minded leaders who impact teacher effectiveness and student performance.