Form 4: WEC Energy Group Director Stanek Acquires Phantom Stock Units Through Fee Deferral

Director Mary Ellen Stanek acquired 317.0075 phantom stock units of WEC Energy Group through a deferral of director fees.

Summary

• On October 8, 2024, Mary Ellen Stanek, a director of WEC Energy Group, Inc., acquired 317.0075 phantom stock units.
• The acquisition was made through a deferral of director fees, which is exempt from Section 16(b) under Rule 16b-3(d).
• The price of the derivative security is $94.635.
• Following the transaction, Stanek beneficially owns 45,479.028 phantom stock units, which includes units accrued through dividend reinvestments.
• These phantom stock units are to be settled in accordance with the terms of the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP).

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 is a positive sign of aligning director interests with shareholder value.

Positives

• The acquisition of phantom stock units through fee deferral aligns the director's interests with the long-term performance of the company.
• The dividend reinvestment feature of the DDCP further increases the director's stake in the company.

Future Outlook

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

Industry Context

This filing is a routine disclosure of a director's acquisition of phantom stock units, a common practice in corporate governance to align director compensation with company performance. It reflects standard executive compensation practices within the utilities industry.

Comparison to Industry Standards

• Deferred compensation plans and phantom stock units are common in the utility industry to align executive and director compensation with long-term shareholder value.
• Companies like Duke Energy and Exelon also utilize similar compensation strategies for their directors.
• The amount of phantom stock units acquired is relatively small and consistent with typical director compensation packages.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning management's interests with the company's long-term success.

Key Dates