Welsh Timothy A 4

What Happened

• Timothy A. Welsh, a director of Xcel Energy Inc. (XEL), was granted 480.215 stock-equivalent units on 2026-03-28 (transaction reported on Form 4 filed 2026-03-30). The filing shows an acquisition price of $0.00 because this was an award/grant (transaction code A).
• Of those units, 400.179 were granted in lieu of the director's quarterly cash retainer at a per-unit valuation of $78.09 (implied value ≈ $31,250). An additional 80.036 units were granted at no cost as a 20% premium; together the 480.215 units imply an aggregate value of roughly $37,500 at $78.09/unit. The grant also includes 105.516 units from reinvested dividend equivalents.

Key Details

• Transaction date: 2026-03-28; Form 4 filed: 2026-03-30 (timely filing).
• Transaction type: Grant / award (code A); acquisition price reported as $0.00.
• Units granted: 480.215 stock-equivalent units total; breakdown per footnotes: 400.179 in lieu of cash retainer, 80.036 as 20% premium, includes 105.516 dividend-reinvested units.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes: Units are stock-equivalent units payable in whole shares after termination of director service; fractional units payable in cash.

Context

• This is a routine director compensation award (retainer paid in stock-equivalent units), not an open-market purchase or sale. Such grants are common for board compensation and do not, by themselves, signal buying or selling intent by the insider.
• Because the units are stock-equivalents payable later (per footnote), they may convert to actual shares only upon termination of service; dividend-equivalent reinvestment increased the total units granted.