DTE Energy (NYSE: DTE) director exercises and settles phantom stock

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

DTE Energy director Gail J. McGovern reported several compensation-related stock transactions. On May 7–8, 2026, she received 1,230.0000 phantom stock units tied 1-for-1 to common stock and then exercised 1,218.7200 phantom units into 1,218.7200 common shares. Those common shares were disposed of back to the issuer at $140.6000 per share, leaving no directly held common stock and 53,178.8300 phantom stock units outstanding, which are vested but subject to at least a one-year deferral.

Insider Trade Summary

1,218.72 shares exercised/converted

Mixed 4 txns

Insider MCGOVERN GAIL J

Role null

Type	Security	Shares	Price	Value
Exercise	Phantom Stock	1,218.72	$0.00	--
Exercise	Common Stock	1,218.72	$0.00	--
Disposition	Common Stock	1,218.72	$140.60	$171K
Grant/Award	Phantom Stock	1,230	$0.00	--

Holdings After Transaction: Phantom Stock — 53,178.83 shares (Direct, null); Common Stock — 1,218.72 shares (Direct, null)

Footnotes (1)

1 for 1 The phantom shares are immediately vested, but subject to a minimum 1-year deferral. Includes phantom stock acquired through the reinvestment feature under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors.

Key Figures

Common shares disposed to issuer: 1,218.7200 shares Disposition price per share: $140.6000 per share Phantom stock grant: 1,230.0000 units +2 more

5 metrics

Common shares disposed to issuer 1,218.7200 shares Disposition to issuer at $140.6000 per share on May 8, 2026

Disposition price per share $140.6000 per share Price for 1,218.7200 common shares returned to issuer

Phantom stock grant 1,230.0000 units Phantom stock awarded on May 7, 2026, 1-for-1 with common stock

Phantom units exercised 1,218.7200 units Phantom stock converted into common stock on May 8, 2026

Phantom stock outstanding 53,178.8300 units Phantom stock balance after transactions, subject to minimum one-year deferral

Key Terms

Phantom Stock, Disposition to issuer, Exercise or conversion of derivative security, Deferred Stock Compensation Plan for Non-Employee Directors

4 terms

Phantom Stock financial

"The phantom shares are immediately vested, but subject to a minimum 1-year deferral."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Disposition to issuer financial

"transaction_code_description: Disposition to issuer"

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

Deferred Stock Compensation Plan for Non-Employee Directors financial

"Includes phantom stock acquired through the reinvestment feature under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors."

Form 4 Insider Transactions: What Each Field Means →

05/11/2026 - 12:51 PM

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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MCGOVERN GAIL J

(Last)

(First)

(Middle)

ONE ENERGY PLAZA

(Street)

DETROIT

MICHIGAN

48226

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/08/2026		M		1,218.72	A	$0⁽¹⁾	1,218.72	D
Common Stock	05/08/2026		D		1,218.72	D	$140.6	0	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	⁽¹⁾	05/07/2026		A		1,230		⁽²⁾	⁽²⁾	Common Stock	1,230	$0	54,397.55⁽³⁾	D
Phantom Stock	⁽¹⁾	05/08/2026		M			1,218.72	05/08/2026	05/08/2026	Common Stock	1,218.72	$0⁽¹⁾	53,178.83⁽³⁾	D

Explanation of Responses:

1. 1 for 1

2. The phantom shares are immediately vested, but subject to a minimum 1-year deferral.

3. Includes phantom stock acquired through the reinvestment feature under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors.

Remarks:

	/s/Todd A. Richards, Attorney-in-Fact	05/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did DTE (DTB) director Gail J. McGovern report?

Gail J. McGovern reported routine compensation-related activity, including a grant of 1,230.0000 phantom stock units, the exercise of 1,218.7200 phantom units into common shares, and a matching 1,218.7200-share disposition back to DTE Energy Co.

Did Gail J. McGovern buy or sell DTE (DTB) shares on the open market?

No open-market trades were reported. The Form 4 shows an exercise of 1,218.7200 phantom stock units into common shares, followed by a 1,218.7200-share disposition to the issuer, which is classified as a disposition to DTE Energy Co., not a market sale.

How many DTE (DTB) common shares does Gail J. McGovern hold after these transactions?

After these transactions, McGovern reports holding 0.0000 DTE Energy Co common shares directly. The same 1,218.7200 shares obtained from exercising phantom stock were subsequently disposed of to the issuer, fully offsetting the acquisition.

What is Gail J. McGovern’s remaining phantom stock position in DTE (DTB)?

Following the reported transactions, McGovern’s phantom stock balance is 53,178.8300 units. These phantom shares are linked 1-for-1 to DTE Energy Co common stock and are immediately vested but must be deferred for at least one year.

What is phantom stock in the context of DTE (DTB) director compensation?

Phantom stock represents units tied 1-for-1 to common shares, used in deferred compensation plans. For DTE Energy Co, the Form 4 notes phantom shares are vested but subject to a minimum one-year deferral and can be acquired through a deferred stock compensation plan.

Were any of Gail J. McGovern’s DTE (DTB) phantom stock units newly granted?

Yes. On May 7, 2026, McGovern was granted 1,230.0000 phantom stock units linked to DTE Energy Co common stock. This grant increased her phantom stock holdings before part of that balance was later exercised into common shares.