Thomas David A 4

What Happened
David A. Thomas, a director at DTE Energy Co. (DTE), was granted 1,230 phantom (deferred) shares on 2026-05-07. The grant is reported as an award/acquisition (code A) at $0.00 per share (no cash exchanged in the filing). The filing shows these are derivative phantom shares rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-05-07; Filing date: 2026-05-11 (filed 4 days after the transaction). SEC Form 4s are generally due within 2 business days, so this filing appears tardy.
• Amount: 1,230 phantom shares; reported acquisition price: $0.00.
• Shares owned after transaction: not specified in the provided data.
• Footnotes from the filing:
  • F1: 1-for-1 (likely conversion ratio).
  • F2: Phantom shares are immediately vested but subject to a minimum 1-year deferral before payout.
  • F3: Includes phantom stock acquired via reinvestment under the DTE Energy Deferred Stock Compensation Plan for Non-Employee Directors.
• Transaction type: Award/Grant of deferred compensation (derivative), not a market purchase or sale.

Context
Phantom shares are a form of deferred compensation that track the value of company stock but are typically paid out later in cash or stock. Because these shares are part of director compensation and are subject to a one-year deferral, this grant is a routine compensation event for a non-employee director and not a direct buy/sell trade that signals immediate market exposure.