Burkhart Megan D 4

What Happened

Megan D. Burkhart, a director of Xcel Energy Inc. (XEL), received a grant of 614.675 stock-equivalent units (transaction code A) on 2026-03-28. The Form 4 reports an acquisition price of $0.00 (no cash paid). Using the $78.09 per-unit reference in the filing, the grant's implied value is roughly $48,000. These units are deferred/stock-equivalent awards, not an open-market purchase.

Key Details

• Transaction date: 2026-03-28; Form 4 filed: 2026-03-30 (timely filing).
• Reported price: $0.00 (award/grant). Implied valuation using $78.09/unit ≈ $48,000.
• Grant breakdown (per footnotes):
  • 512.229 units granted in lieu of the director's quarterly cash retainer (valued at $78.09/unit).
  • 102.446 units granted at no cost as a 20% premium on that retainer amount.
  • The 614.675 total includes 150.836 units from reinvested dividend equivalents.
• Shares owned after the transaction: not stated in the provided filing excerpt.
• Footnote on payout: units are payable in whole shares of common stock following termination of director service; fractional units payable in cash.

Context

This was a compensation-related grant (deferred stock/stock-equivalents) for a director, a routine part of board retainer arrangements. Such awards represent deferred pay rather than an active market purchase or sale and should be interpreted as compensation administration rather than an immediate bullish or bearish trade signal.