Burkhart Megan D 4

What Happened
Megan D. Burkhart, a director of Xcel Energy Inc. (XEL), was granted 583.728 stock-equivalent units on 2026-06-28. The Form 4 reports the acquisition price as $0 (award/grant), reflecting a director retainer paid in stock-equivalent units rather than cash. Based on the $82.23 per-unit figure shown in the filing footnote, the implied market value of the grant is roughly $48,000 (about $40,000 for 486.44 units granted in lieu of cash and about $8,000 for the 97.288 premium units).

Key Details

• Transaction date: 2026-06-28; Form 4 filed 2026-06-30 (timely filing).
• Transaction type/code: Award/Grant (A); 583.728 stock-equivalent units acquired at $0.
• Footnote specifics:
  • F1: Retainer granted as stock-equivalent units payable in whole shares after termination of director service; fractional units payable in cash.
  • F2: Of the 583.728 units, 486.44 were issued in lieu of the quarterly cash retainer (valued at $82.23/unit) and 97.288 were granted at no cost as a 20% premium on that retainer.
• Shares owned after the transaction: Not specified in the provided filing excerpt.

Context
These are stock-equivalent compensation units awarded as board retainer, not an open-market purchase or sale. Such grants are routine director compensation and do not necessarily signal the director buying or selling stock in the market. The units convert to whole shares after the director’s service ends (with fractional amounts paid in cash).