KAMPLING PATRICIA L 4

What Happened
Patricia L. Kampling, a director of Xcel Energy (XEL), was granted/received 2,253.944 shares (transaction code A) on May 21, 2026. The Form 4 shows an acquisition at $0.00 per share (a compensation award rather than an open-market purchase). The award includes 0.944 stock-equivalent units and 71.567 stock-equivalent units from reinvested dividend equivalents.

Key Details

• Transaction date: May 21, 2026; Filing date: May 22, 2026 (timely filing).
• Transaction type/code: Award/acquisition (A); Price reported: $0.00.
• Shares/units acquired: 2,253.944 total (includes 0.944 stock-equivalent units).
• Notable footnotes:
  • F1: 0.944 stock-equivalent units included; whole stock-equivalent units payable in shares after termination of service; fractional units payable in cash.
  • F2: 71.567 stock-equivalent units were acquired via reinvestment of dividend equivalents.
• Shares owned after the transaction: not reported in the provided filing excerpt.

Context
This was a compensation award to a board member, common for non-employee directors and not an open-market buy or sell. Stock-equivalent units represent the economic equivalent of shares (some payable as shares upon termination and fractional units in cash). Such awards are routine director compensation and should be interpreted as remuneration rather than a direct signal of insider market sentiment.