Form 4: WEC Energy Group Director Acquires Phantom Stock Units Through Deferred Compensation Plan

Director Thomas K. Lane acquired 399.5737 phantom stock units of WEC Energy Group through a deferral of director fees.

Summary

• Thomas K. Lane, a director at WEC Energy Group, acquired 399.5737 phantom stock units on January 8, 2025.
• These units were obtained through a deferral of director fees under the company's Director's Deferred Compensation Plan (DDCP).
• The acquisition is exempt from Section 16(b) of the Securities Exchange Act of 1934, according to Rule 16b-3(d).
• The phantom stock units are to be settled in accordance with the terms of the DDCP.
• The total number of phantom stock units beneficially owned by Lane after this transaction is 13,635.1331.
• The price of the underlying common stock at the time of the transaction was $93.85.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with the company's performance.

Positives

• The acquisition of phantom stock units aligns director interests with the long-term performance of the company.
• The use of a deferred compensation plan can be a tax-efficient way for directors to accumulate company stock.

Industry Context

This type of transaction is common for directors of publicly traded companies as part of their compensation packages, aligning their interests with shareholders.

Comparison to Industry Standards

• Deferred compensation plans are a standard practice for directors in many publicly traded companies, including those in the utilities sector like WEC Energy Group.
• Companies such as NextEra Energy and Duke Energy also utilize similar compensation structures for their board members.
• The use of phantom stock units is a common method to provide equity-based compensation without issuing actual shares immediately.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's long-term performance.

Key Dates

Keywords

phantom stock units, director compensation, deferred compensation plan, WEC Energy Group, insider trading, Form 4, director fees