Santos Cassandra 4

What Happened

• Cassandra Santos, a member of DTE Energy Co.'s board of directors, was granted 1,230 phantom (derivative) shares on 2026-05-07. The award is reported at $0.00 per share on the Form 4 because these are deferred/phantom shares rather than a cash purchase. The phantom shares are immediately vested but subject to a minimum one-year deferral before payout.

Key Details

• Transaction date: 2026-05-07; Form 4 filed: 2026-05-11 (timely filing).
• Amount: 1,230 phantom shares; reported acquisition code: A (award/grant/other acquisition); $0.00 per share reported.
• Footnotes: F1 = 1-for-1 conversion ratio to underlying common shares; F2 = immediately vested but minimum 1‑year deferral; F3 = includes phantom stock acquired via the plan’s reinvestment feature for non-employee directors.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• Phantom or deferred stock awards are a form of compensation for non-employee directors that track the value of company shares but are paid out later (here, after at least one year). This is a compensation/retention tool rather than an open‑market purchase or sale, and does not by itself indicate a trading view by the insider.