KELSEY MARGARET C 4

What Happened

• Margaret C. Kelsey, Executive Vice President & General Counsel of WEC Energy Group, received a grant of 656.544 phantom stock units on 2026-03-04. The units were valued at $117.55 each, for a total grant value of $77,177. This filing reports a derivative award (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-04; Form 4 filed: 2026-03-06 (filed two days after the grant; appears timely).
• Award: 656.544 phantom stock units at $117.55 per unit; total reported value $77,177.
• Transaction type: Derivative grant under the company plan (phantom stock units), not an immediate share purchase or sale.
• Shares owned after the transaction: Not reported on this Form 4.
• Relevant footnotes:
  • One-for-one conversion to common shares (F1).
  • Units were accrued under the WEC Energy Nonqualified Retirement Savings Plan (NQRSP) and are settled following retirement or termination of employment (F2).
  • Some units include amounts accrued via a dividend reinvestment feature and were recorded in transactions exempt from Section 16 (Rule 16a-11) (F3).

Context

• Phantom stock units are a deferred/retirement-type award that typically convert to cash or shares upon termination/retirement; they do not represent an immediate market purchase or sale and therefore are not an immediate bullish or bearish trading signal.
• This is an award/grant (A) rather than a purchase (P) or sale (S). For retail investors, note this increases the executive’s deferred compensation stake but does not change outstanding public float today.