Form 4: WEC Energy Director Adjusts Equity Holdings

WEC Energy Group Director Danny L Cunningham reported transactions involving common stock and phantom stock units, primarily related to a deferred compensation plan.

Summary

• Director Danny L Cunningham acquired 1,603 shares of WEC Energy Group common stock on January 2, 2026, with a transaction price of $0.
• Following this acquisition, Cunningham's direct beneficial ownership of common stock increased to 8,536.2417 shares.
• On the same date, Cunningham disposed of 1,749.6114 shares of common stock.
• This disposition was in connection with the vesting of restricted stock granted on January 2, 2025, where Cunningham deferred receipt of the shares.
• Instead of receiving common stock, Cunningham received 1,749.6114 phantom stock units under the Directors Deferred Compensation Plan (DDCP).
• After these transactions, Cunningham's direct beneficial ownership of common stock decreased to 6,786.6303 shares.
• Cunningham acquired 1,749.6114 phantom stock units, which are convertible on a one-for-one basis into common stock.
• The phantom stock units were accrued under the DDCP and are to be settled according to the plan's terms.
• Following the acquisition of phantom stock units, Cunningham's direct beneficial ownership of phantom stock units increased to 22,310.0222 units.
• Both common stock and phantom stock unit holdings include shares/units acquired through dividend reinvestment, which are exempt from Section 16 reporting under Rule 16a-11.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to a deferred compensation plan, which is neutral in sentiment. It reflects standard corporate governance and compensation practices rather than significant positive or negative operational news.

Positives

• Director Danny L Cunningham continues to hold a significant equity interest in WEC Energy Group through both common stock and phantom stock units.
• The acquisition of phantom stock units under the Directors Deferred Compensation Plan demonstrates a long-term commitment and alignment of interests with shareholders.

Negatives

• The direct beneficial ownership of common stock decreased by 1,749.6114 shares due to the deferral into phantom stock units.

Future Outlook

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

Industry Context

This Form 4 filing details routine insider transactions for a director of a publicly traded energy utility company. Such filings are standard disclosures required by the SEC to provide transparency on changes in beneficial ownership by company insiders.

Corporate Governance

Stakeholder Impact

• Shareholders: Provides transparency regarding a director's equity holdings and participation in a deferred compensation plan, which can signal long-term commitment.
• Employees: No direct impact mentioned.

Key Dates

Keywords

WEC Energy Group, WEC, Form 4, Insider Transaction, Director, Common Stock, Phantom Stock Units, Deferred Compensation Plan, Equity Holdings