Form 4: WEC Energy Group Director Stanek Reports Acquisition of Phantom Stock Units

Director Mary Ellen Stanek reports acquiring phantom stock units of WEC Energy Group through director fee deferral.

Summary

• On July 8, 2024, Mary Ellen Stanek, a director of WEC Energy Group, Inc., acquired 384.788 phantom stock units.
• The acquisition was a result of deferring director fees and is exempt from Section 16(b) under Rule 16b-3(d).
• The price of the underlying common stock at the time of acquisition was $77.965 per unit.
• Following the transaction, Stanek beneficially owns 44,760.2488 phantom stock units.
• These units are accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP) and will be settled according to the plan's terms.
• The reported holdings include phantom stock units accrued through a dividend reinvestment feature of the DDCP.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

Positives

• The acquisition of phantom stock units through director 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 over time.

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 deferred compensation is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Deferred compensation plans for directors are a common practice among publicly traded companies, including utilities like NextEra Energy and Duke Energy.
• The specific terms of the WEC Energy Group's DDCP, such as the dividend reinvestment feature, would need to be compared to those of similar plans at peer companies to assess its relative attractiveness.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates