Sharp Scott 4

What Happened

• Scott Sharp, EVP and Chief Generation Officer of Xcel Energy (XEL), received equity awards that settled into common stock on Feb 24, 2026 and had shares withheld to cover tax obligations. The filing shows 4,081 shares granted/issued (awards/RSUs/PSUs) and the conversion/exercise of 1,065.507 derivative units into shares. To satisfy tax withholding, 1,619.507 shares were surrendered/withheld at an implied value of $83.35 per share, totaling $134,986. No cash purchase was reported for the awards (award shares reported at $0.00).

Key Details

• Transaction date: February 24, 2026; Form 4 filed Feb 26, 2026.
• Award/acquisition: 4,081 shares reported as an award/grant (code A) settled in common stock.
• Derivative conversion: 1,065.507 units converted/exercised into shares (code M).
• Tax withholding/disposition: 1,619.507 shares withheld/disposed to satisfy tax liability at $83.35/share for $134,986 (code F). Fractional shares were settled in cash.
• Notable footnotes:
  • Settlement represents performance share unit awards for the 2023–2025 performance period (vested Dec 31, 2025; settled Feb 24, 2026).
  • RSUs are settled one-for-one in common stock; dividend equivalents increased units by 95.507.
  • Shares withheld were used to satisfy tax obligations; fractional interests paid in cash.
• Shares owned after the reported transactions are not specified in the provided transaction summary.
• Filing appears timely (transaction on Feb 24, 2026; Form filed Feb 26, 2026).

Context

• This activity reflects routine award settlement and tax withholding rather than an open-market sale or buy. The conversion/exercise of derivative units and subsequent withholding is a common cashless-type outcome for vested performance shares and RSUs: awards are settled in stock, and a portion is withheld to cover taxes. These transactions document compensation settlement, not an explicit buy/sell decision by the insider.