DTE insider filing: Gary Torgow credited 249.71 phantom shares for director fees

Rhea-AI Filing Summary

Director Gary Torgow received 249.71 units of phantom stock on 10/01/2025 as payment for non-employee director fees under DTE Energy's deferred compensation plan. The phantom units are denominated in common stock and will be settled in cash at a price of $140.16 per share on a date selected by the reporting person under the plan. After the transaction, Mr. Torgow beneficially owned 6,416.29 shares (including phantom units acquired via dividend reinvestment). The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

• Director compensation disclosed transparently: 249.71 phantom stock units recorded as payment of director fees.
• Cash settlement specified: Phantom stock will be settled for cash at a stated price of $140.16 per share.
• Includes dividend reinvestment: Filing notes phantom stock acquired through dividend reinvestment under the deferral plan.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received deferred cash-settled phantom stock for board service; typical non-employee director compensation.

The Form 4 shows a routine director compensation payment: 249.71 phantom stock units granted/credited as payment of director fees and to be settled in cash at $140.16 per share. This is an administrative disclosure of compensation, not an equity issuance, and the reporting person retains 6,416.29 shares/units post-transaction. The filing clarifies settlement mechanics including dividend reinvestment under the plan.

Securities Analyst

TL;DR: Transaction is a non-derivative compensation credit; limited market impact expected.

The reported 249.71 phantom stock units represent deferred director fees credited on 10/01/2025 and priced at $140.16 per share for settlement purposes. Because the award is cash-settled phantom stock and documented as payment of fees, there is no immediate share issuance or direct dilution disclosed. The filing is a compliance disclosure typical for Section 16 reporting.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider TORGOW GARY

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock (Def Dir Fees)	249.71	$140.16	$35K

Holdings After Transaction: Phantom Stock (Def Dir Fees) — 6,416.29 shares (Direct)

Footnotes (1)

1. 1 for 1 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. Includes phantom stock acquired through the dividend reinvestment feature of the DTE Energy Company Plan for Deferring the Payment of Non-Employee Director Fees.

Form 4 Insider Transactions: What Each Field Means →

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).

1. Name and Address of Reporting Person^*

TORGOW GARY

(Last) (First) (Middle)

ONE ENERGY PLAZA

1610 WCB

(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		249.71		(2)	(2)	Common Stock	249.71	$140.16	6,416.29(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

What did DTE director Gary Torgow receive on 10/01/2025 (DTB)?

He received 249.71 phantom stock units as payment of non-employee director fees, recorded on 10/01/2025.

How will the phantom stock be settled according to the Form 4?

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

What price is associated with the reported phantom units?

The filing lists a price of $140.16 per share for the phantom stock units.

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

The Form 4 reports 6,416.29 shares/units beneficially owned following the transaction.

Was this Form 4 submission an amendment or an original filing?

This Form 4 appears to be an original filing reporting the 10/01/2025 transaction and was signed on 10/02/2025.