Casey Lynn 4

What Happened
Casey Lynn, a director of Xcel Energy Inc. (XEL), was granted 518.632 stock-equivalent units on 2026-03-28 as part of her director retainer (reported on Form 4 filed 2026-03-30). The filing reports an acquisition (grant) at $0.00 cash price to the reporting person. Of the 518.632 units, 432.193 units were issued in lieu of Lynn’s quarterly cash retainer at a notional price of $78.09 per unit, and 86.439 units were granted at no cost as a 20% premium on that retainer amount.

Key Details

• Transaction date: 2026-03-28; Form 4 filed: 2026-03-30 (filed two days after the transaction; appears timely).
• Transaction type/code: Award/Grant (A) — stock-equivalent units; reported acquisition price $0.00 to the insider.
• Units granted: 518.632 stock-equivalent units total (432.193 credited at $78.09/unit in lieu of cash retainer; 86.439 granted as a 20% premium).
• Dividend reinvestment: Filing notes 298.045 of the stock-equivalent units were acquired via reinvestment of dividend equivalents; filing also notes 1.08 shares acquired since the last report via dividend reinvestment.
• Payout terms: Stock-equivalent units are payable in whole shares of common stock following termination of director service; fractional units are paid in cash (per footnote).
• Shares owned after transaction: Not specified in the supplied details of the filing.

Context
This was a routine director retainer award (compensation) rather than an open-market purchase or sale. Such grants are common for board pay and do not, by themselves, indicate an insider buying or selling stock for investment reasons. The units are deferred (paid in shares after service ends) with some portion resulting from dividend-equivalent reinvestment.