Xcel Energy (XEL) Director Megan D. Burkhart Receives 687.679-Unit Award

What Happened

Megan D. Burkhart, a director of Xcel Energy Inc. (XEL), was granted 687.679 stock-equivalent units (reported as an acquisition, code A) on 2026-09-28. The Form 4 shows a $0.00 per-unit cash price because this was an award/retainer grant; part of the grant was issued in lieu of a cash retainer at a per-unit valuation of $69.80. The total economic value of the units is approximately $48,000.

Key Details

• Transaction date: 2026-09-28; Form 4 filed 2026-09-30 (appears timely).
• Reported transaction: Grant/award (A) of 687.679 stock-equivalent units; Form 4 lists $0.00 cash price.
• Breakdown (footnotes):
  • 573.066 units granted in lieu of the quarterly cash retainer, valued at $69.80 per unit.
  • 114.613 units granted at no cost as a 20% premium on the retainer amount.
  • 175.063 of the total units reflect reinvestment of dividend equivalents.
• Shares owned after the transaction: not disclosed in this filing.
• These are compensation/retainer units (not an open-market purchase or sale).

Context

Stock-equivalent units are payable in whole shares of common stock following termination of the director’s service (fractional units are paid in cash), so these units are a routine form of director compensation rather than an immediate market purchase. Such awards are common for non-employee directors and do not by themselves indicate a buy/sell signal.