Rieger Angela S. 4

What Happened Angela S. Rieger, a director of MGE Energy Inc. (MGEE), received a grant of 1,039 restricted stock units (RSUs) on 2026-03-02. The filing reports the acquisition as a derivative award at $0.00 per unit (code A), meaning these are compensation awards rather than an open-market purchase. RSUs convert one-for-one into common shares when they vest.

Key Details

• Transaction date: 2026-03-02; Form 4 filed 2026-03-03 (timely — within the standard two-business-day window).
• Award: 1,039 RSUs granted, reported acquisition price $0.00 (derivative award).
• Shares owned after transaction: not specified in this filing.
• Footnotes: F1 — RSUs convert to common stock 1:1 upon vesting; F2 — RSUs vest on December 31, 2026; the reporting person can elect stock or opt to be paid 25% in cash.
• Transaction code: A (award/grant).

Context This was a compensation award to a board member, not a market purchase or sale. RSU grants are common for directors and do not represent an immediate change in share ownership until vesting (or a cash election), so they are generally less informative about short-term insider sentiment than outright purchases or sales.