Form 4: WEC Energy Group Director Lane Thomas K Reports Acquisition of Phantom Stock Units

Director Lane Thomas K reports acquiring 480.985 phantom stock units of WEC Energy Group, Inc. through a deferral of director fees.

Summary

• On July 8, 2024, Lane Thomas K, a director of WEC Energy Group, Inc., acquired 480.985 phantom stock units.
• The acquisition was made through a deferral of director fees and is exempt from Section 16(b) under Rule 16b-3(d).
• The phantom stock units were accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP) and will be settled according to the plan's terms.
• The price of the phantom stock units was $77.965.
• Following the transaction, Lane Thomas K beneficially owns 10,696.1701 phantom stock units, including those accrued through dividend reinvestments under Rule 16a-11.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The use of phantom stock units aligns director interests with shareholder value.

Positives

• The acquisition of phantom stock units reflects continued alignment of director compensation with company performance.
• The use of the Director's Deferred Compensation Plan (DDCP) allows for tax-deferred savings for the director.

Future Outlook

The phantom stock units will be settled in accordance with the terms of the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP).

Industry Context

Director compensation in the form of stock and phantom stock units is a common practice among publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Companies like Duke Energy and Exelon also utilize deferred compensation plans for their directors.
• The specifics of these plans, such as vesting schedules and payout terms, can vary significantly.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The Director's Deferred Compensation Plan (DDCP) provides a tax-advantaged savings vehicle for the director.

Key Dates