DTE (DTB) director Valerie Williams exercises phantom stock into common shares

Rhea-AI Filing Summary

DTE Energy director Valerie Williams reported compensation-related stock movements involving common and phantom stock on May 4, 2026. She exercised 1,424.83 phantom stock units into the same number of common shares on a 1 for 1 basis under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors.

In connection with these transactions, 0.83 common share was disposed of back to the issuer. After the transactions, Williams directly holds 7,012 common shares and 4,481.28 phantom stock units, reflecting routine plan-related adjustments rather than open-market buying or selling.

Insider Trade Summary

1,424.83 shares exercised/converted

Mixed 3 txns

Insider Williams Valerie

Role null

Type	Security	Shares	Price	Value
Exercise	Phantom Stock	1,424.83	$0.00	--
Exercise	Common Stock	1,424.83	$0.00	--
Disposition	Common Stock	0.83	$146.73	$121.79

Holdings After Transaction: Phantom Stock — 4,481.28 shares (Direct, null); Common Stock — 7,012.83 shares (Direct, null)

Footnotes (1)

1. 1 for 1 Includes phantom stock acquired through the reinvestment feature under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors.

Key Figures

Phantom stock exercised: 1,424.83 units Common shares acquired from exercise: 1,424.83 shares Shares disposed to issuer: 0.83 share at $146.73 +2 more

5 metrics

Phantom stock exercised 1,424.83 units Converted 1-for-1 into common stock on May 4, 2026

Common shares acquired from exercise 1,424.83 shares Resulting common stock from phantom stock conversion

Shares disposed to issuer 0.83 share at $146.73 Disposition to issuer in non-derivative transaction

Common shares held after transactions 7,012 shares Direct DTE common stock ownership following Form 4 activity

Phantom stock units remaining 4,481.28 units Deferred compensation phantom stock balance after exercise

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

"security_title: "Phantom Stock" in derivative transaction details"

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" for 0.83 share"

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

"footnote: "under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors""

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).

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^*

Williams Valerie

(Last) (First) (Middle)

ONE ENERGY PLAZA

(Street)

DETROIT MICHIGAN 48226-1279

(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)
05/04/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/04/2026		M		1,424.83	A	$0(1)	7,012.83	D
Common Stock	05/04/2026		D		0.83	D	$146.73	7,012	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	05/04/2026		M			1,424.83	05/04/2026	05/04/2026	Common Stock	1,424.83	$0(1)	4,481.28(2)	D

Explanation of Responses:

1. 1 for 1

2. 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	05/06/2026
	** 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)

FAQ

What did DTE (DTB) director Valerie Williams report in this Form 4?

Valerie Williams reported routine compensation-related transactions on May 4, 2026. She exercised 1,424.83 phantom stock units into common stock and recorded a small 0.83-share disposition back to the issuer, reflecting plan administration rather than open-market trading activity.

How many DTE common shares did Valerie Williams acquire or dispose of?

Williams acquired 1,424.83 common shares through the exercise of phantom stock and had 0.83 share disposed to the issuer. Following these transactions, her direct holdings total 7,012 common shares, showing a net increase in equity from compensation conversion.

What is the phantom stock involved in Valerie Williams’ DTE (DTB) filing?

The filing refers to Phantom Stock units that convert 1 for 1 into DTE common shares. These units are held under the DTE Energy Company Deferred Stock Compensation Plan for Non-Employee Directors, which reinvests amounts into phantom stock instead of immediate cash or shares.

Did Valerie Williams sell DTE shares on the open market in this Form 4?

No open-market sale is reported. The only reduction is a 0.83-share disposition to the issuer, coded as a “Disposition to issuer”. The main activity is a derivative exercise converting phantom stock into common shares, not a market transaction.

What are Valerie Williams’ DTE holdings after these Form 4 transactions?

After the reported transactions, Williams directly owns 7,012 common shares of DTE Energy and holds 4,481.28 phantom stock units. These positions reflect both her regular equity stake and deferred compensation accumulated under the company’s non-employee director stock compensation plan.