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

WEC Energy Group director Danny L. Cunningham acquired 372.9355 phantom stock units through a deferral of director fees.

Summary

• Director Danny L. Cunningham acquired 372.9355 phantom stock units of WEC Energy Group on January 8, 2025.
• The acquisition was made through a deferral of director fees under the company's Director's Deferred Compensation Plan (DDCP).
• These phantom stock units are to be settled in accordance with the terms of the DDCP.
• The price of the underlying common stock at the time of the transaction was $93.85.
• Following the transaction, Cunningham's total holdings include 18,925.9002 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral to positive. It indicates alignment of interests between the director and 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 transaction is a routine filing related to director compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans are a common method for compensating directors in publicly traded companies, aligning their interests with shareholders.
• The use of phantom stock units is a typical approach to provide equity-based compensation without issuing actual shares.
• Many companies in the utilities sector, like WEC Energy Group, use similar compensation structures for their board members.

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 transaction, Form 4, equity securities