Correa Patricia 4

What Happened

• Patricia Correa, Senior Vice President & Chief Human Resources Officer at Xcel Energy (XEL), received the settlement of performance share units and restricted stock units that vested for the 2023–2025 performance period. On Feb 24, 2026 a total of 11,053 shares were issued as part of these awards.
• As part of the settlement and related conversions, 4,921.053 shares were withheld to satisfy tax obligations at $83.35 per share, generating $410,170 in withheld value. The filing also shows conversion/exercise entries for 3,235.053 derivative units related to these awards.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (appears timely).
• Award/Grant: 11,053 shares issued at $0.00 (settlement of PSUs/RSUs).
• Tax withholding (Disposition - code F): 4,921.053 shares withheld at $83.35 per share = $410,170.
• Derivative conversion/exercise (code M): 3,235.053 units converted/settled (reported as both acquired and derivative-disposed entries consistent with settlement mechanics).
• Footnotes of note: F1 = settlement of 2023–2025 PSU awards; F4 = shares withheld to satisfy tax obligations (fractional shares paid in cash); F6 = award vested 12/31/2025 but settled 2/24/2026; F2/F5 = dividend reinvestment increased unit/share counts since original grants.
• Shares owned after the transaction are not specified in the provided filing.

Context

• This was a routine vesting/settlement of equity awards rather than an open-market purchase or sale. The share withholding is a common practice to cover tax withholding obligations and should not be read as an opportunistic market sale.
• For retail investors: award settlements increase insider exposure to company stock, while share withholding to pay taxes reduces the net new shares received. Derivative/“M” entries here reflect conversion of granted units into common shares rather than a market trade.