TORGOW GARY 4

What Happened

• Gary Torgow, a director of DTE Energy Co. (DTE), was granted/ acquired 240.75 phantom shares (derivative award) on 2026-07-01. The award is reported at $150.57 per share, for a reported aggregate value of $36,250. This transaction is an award (code A) as part of non-employee director compensation rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-07-01; filing date: 2026-07-02 (timely).
• Amount: 240.75 phantom shares at $150.57 per share; total reported value $36,250.
• Transaction type/code: Award/Grant (derivative phantom stock).
• Shares owned after transaction: Not disclosed in the filing.
• Footnotes:
  • F1: 1-for-1 (conversion ratio).
  • F2: Payment of director fees — the phantom stock will be settled for cash on a date selected by the reporting person under the plan.
  • F3: Includes phantom stock acquired through the dividend reinvestment feature of the DTE plan for deferring non-employee director fees.
• No indication of a late filing.

Context

• This was a cash‑settled phantom stock award used to pay director fees, not an acquisition of issued common shares. Phantom stock tracks share value (and may reinvest dividends) but is typically settled in cash when the director elects payment, so it does not immediately change share count outstanding. Such awards are routine compensation and should be viewed accordingly rather than as a direct buy/sell signal.