DEWEY LONDA J 4

What Happened

• Londa J. Dewey, a director of MGE Energy Inc. (MGEE), was granted 1,039 restricted stock units (RSUs) on March 2, 2026. The grant is recorded as a derivative award (transaction code A) with an acquisition price of $0.00; no cash was paid at grant.
• These RSUs convert to common shares on a one-for-one basis when they vest. The filing shows the RSUs vest on December 31, 2026; the reporting person may elect to receive shares or take 25% of the award value in cash at vesting.

Key Details

• Transaction date and price: March 2, 2026; grant recorded at $0.00 per RSU (award).
• Shares/units granted: 1,039 RSUs (derivative award).
• Vesting/settlement: RSUs vest on December 31, 2026 and convert 1:1 to common stock; 25% may be paid in cash per the filing.
• Shares owned after transaction: Not specified in the Form 4 provided.
• Filing timeliness: Form filed March 3, 2026 (the day after the grant date), indicating a timely report.
• Notes: This was an award grant (not an open-market purchase or sale). Footnotes indicate conversion and the cash election option.

Context

• RSU grants are a common form of compensation and do not involve an immediate cash outlay or sale of shares. They generally reflect compensation/retention, and will only affect outstanding shares if and when they vest and convert to common stock.