DTE Insider Filing — 174.8 Phantom Shares Added, Cash-Settled

Rhea-AI Filing Summary

Brandon David, a director of DTE Energy Company, reported an acquisition of 174.8 units of phantom stock on 10/01/2025 as payment of director fees. The report states the phantom units have an equivalent value based on $140.16 per share and will be settled for cash on a date selected by the reporting person under the plan. Following the transaction, the reporting person beneficially owned 15,931.6 shares (including phantom units acquired via a dividend reinvestment feature). The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

• Director compensation disclosed transparently with specific unit count and per-share value
• Phantom units include dividend reinvestment, indicating active plan features for non-employee directors

Negative

• None.

Insights

Corporate Governance Expert

TL;DR Director received phantom stock as non-employee director compensation, settled in cash per plan terms.

The filing documents a routine director compensation event: 174.8 phantom units were acquired as payment of director fees and will be cash-settled. The transaction increases the reporting person's beneficial exposure to the issuer to 15,931.6 shares when counting underlying phantom units and reinvested dividends. This is a disclosure of standard equity-based compensation for non-employee directors and does not indicate open-market trading activity.

Compensation Analyst

TL;DR Phantom stock issued for director fees at a stated per-share value; includes dividend reinvestment feature.

The Form 4 shows the company uses phantom stock to compensate non-employee directors, with units valued at $140.16 per share for this grant of 174.8 units. The filing notes the units are eligible for cash settlement and that additional phantom units were acquired via the plan's dividend reinvestment feature. This is consistent with deferred cash-based director pay practices.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BRANDON DAVID

(Last) (First) (Middle)

ONE ENERGY PLAZA

(Street)

DETROIT MI 48226

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DTE ENERGY CO [ DTE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock (Def Dir Fees)	(1)	10/01/2025		A		174.8		(2)	(2)	Common Stock	174.8	$140.16	15,931.6(3)	D

Explanation of Responses:

1. 1 for 1

2. Payment of Director Fees. The phantom stock will be settled for cash on a date selected by the reporting person as provided under the plan.

3. Includes phantom stock acquired through the dividend reinvestment feature of the DTE Energy Company Plan for Deferring the Payment of Non-Employee Director Fees.

Remarks:

	/s/Todd A. Richards, Attorney-in-Fact	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who filed this Form 4 for DTE Energy (DTE)?

The Form 4 was filed on behalf of Brandon David, identified as a director of DTE Energy Company, via an attorney-in-fact signature dated 10/02/2025.

What transaction is reported on the Form 4 dated 10/01/2025?

The report shows acquisition of 174.8 phantom stock units as payment of director fees on 10/01/2025.

What is the stated per-share value for the phantom stock in this filing?

The filing reports a per-share value of $140.16 for the phantom stock units.

How many shares does the reporting person beneficially own after the transaction?

Following the reported transaction, the reporting person beneficially owned 15,931.6 shares, which includes phantom stock acquired through dividend reinvestment.

Will the phantom stock be settled for stock or cash?

The filing states the phantom stock will be settled for cash on a date selected by the reporting person under the plan.