Form 4: DTE Energy Director David Brandon Reports Acquisition of Phantom Stock

Director David Brandon reports acquisition of phantom stock in DTE Energy Co. through director fee payments and dividend reinvestment.

Summary

• On April 1, 2024, David Brandon, a director of DTE Energy Co., acquired 158.04 units of phantom stock due to payment of director fees.
• The phantom stock is convertible to common stock on a 1:1 basis.
• The price of the phantom stock was $110.73 per share.
• Following the transaction, Brandon directly owns 14,130.96 shares of DTE Energy common stock, which includes phantom stock acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: Routine director compensation activity; indicates alignment of interests but no major implications.

Positives

• The acquisition of phantom stock through director fees and dividend reinvestment indicates confidence in the company's future performance.

Future Outlook

The phantom stock will be settled for cash on a date selected by the reporting person as provided under the plan.

Industry Context

Directors often receive stock or stock options as part of their compensation, aligning their interests with shareholders. Phantom stock is a common form of deferred compensation.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders by aligning director interests with shareholder value.

Key Dates