Form 4: MGE Energy Director Converts RSUs to Common Stock

MGE Energy Inc. Director Angela S. Rieger converted 918 restricted stock units into common stock on December 31, 2025.

Summary

• Angela S. Rieger, a Director of MGE Energy Inc. (MGEE), reported a change in beneficial ownership.
• On December 31, 2025, Rieger acquired 918 shares of MGE Energy Inc. common stock.
• This acquisition resulted from the conversion of 918 restricted stock units (RSUs) that vested on the same date.
• The RSUs were originally granted on March 3, 2025, and converted to common stock on a one-to-one basis upon vesting.
• Following this transaction, Rieger beneficially owns 918 shares of common stock directly.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as a director increasing their direct ownership through vested equity awards generally indicates alignment of interests with shareholders, though it is a routine compensation event.

Positives

• Increased direct ownership by a company director, Angela S. Rieger, through the conversion of 918 restricted stock units into common stock.
• The conversion aligns the director's financial interests more closely with those of common shareholders.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This transaction represents a routine insider compensation event, where a director's previously granted equity awards vest and convert into common stock. Such events are common across all industries as part of executive and director compensation packages designed to align management interests with shareholder value.

Stakeholder Impact

• Shareholders: The transaction increases the direct ownership stake of a director, potentially signaling greater alignment of management interests with shareholder value.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Keywords

MGE Energy Inc., MGEE, Angela S. Rieger, Director, Restricted Stock Units, RSU conversion, Common Stock, Insider Transaction, Beneficial Ownership, SEC Form 4