MGE Energy promotes CFO, grants 25,000 RSUs
MGE Energy, Inc. and Madison Gas and Electric Company reported a leadership and compensation change.
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Form Type
8-K
Rhea-AI Filing Summary
MGE Energy, Inc. and Madison Gas and Electric Company reported a leadership and compensation change. On April 17, 2026, their boards promoted Jared Bushek from Vice President – Chief Financial Officer and Treasurer to Executive Vice President – Chief Financial Officer and Treasurer, effective May 1, 2026.
In connection with this promotion, Bushek received a one-time retention grant of 25,000 restricted stock units of MGE Energy common stock under the 2021 Long-Term Incentive Plan. The award cliff vests on the fifth anniversary of the grant date, with certain accelerated vesting protections on death, disability, or qualifying termination after a change in control.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Board decision date: April 17, 2026
Promotion effective date: May 1, 2026
Retention RSUs granted: 25,000 RSUs
+3 more
6 metrics
Board decision date
April 17, 2026
Date boards approved Jared Bushek’s promotion
Promotion effective date
May 1, 2026
When Bushek becomes Executive Vice President – CFO and Treasurer
Retention RSUs granted
25,000 RSUs
One-time restricted stock unit award tied to promotion
Vesting schedule
5 years
Cliff vesting on fifth anniversary of grant date
Change-in-control protection window
24 months
Period after change in control during which certain terminations accelerate vesting
Report signature date
April 21, 2026
Date the 8-K was signed by the Chief Accounting Officer
Key Terms
restricted stock units, cliff vest, change in control, Long-Term Incentive Plan, +1 more
5 terms
restricted stock units financial
"a one-time retention award in the form of restricted stock units under MGE Energy’s 2021 Long-Term Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
cliff vest financial
"the retention award is scheduled to cliff vest on the fifth anniversary of the grant date"
A cliff vest is a schedule for stock options or restricted shares where no ownership rights are earned until a fixed date, after which a set portion becomes fully owned all at once — like a probation period that suddenly unlocks pay. Investors watch cliff vests because they influence when insiders can sell shares, affect staff retention and dilution timing, and help predict short-term changes in a company’s shareholder makeup.
change in control financial
"resignation for good reason within 24 months following a change in control of MGE Energy"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
Long-Term Incentive Plan financial
"restricted stock units under MGE Energy’s 2021 Long-Term Incentive Plan with respect to 25,000 shares"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
Executive Vice President – Chief Financial Officer and Treasurer financial
"to the position of Executive Vice President – Chief Financial Officer and Treasurer of both MGE Energy and MGE"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What leadership change did MGE Energy (MGEE) announce in this 8-K?
MGE Energy and Madison Gas and Electric promoted Jared Bushek to Executive Vice President – Chief Financial Officer and Treasurer, effective May 1, 2026. He previously served as Vice President – Chief Financial Officer and Treasurer for both companies, so this reflects an expanded executive role and title.
What retention award did MGE Energy (MGEE) grant to Jared Bushek?
In connection with his promotion, Jared Bushek received a one-time retention award of 25,000 restricted stock units of MGE Energy common stock. The grant was made under MGE Energy’s 2021 Long-Term Incentive Plan, linking his compensation more closely to long-term shareholder value.
How do the 25,000 RSUs for the MGEE executive vest?
The 25,000 restricted stock units are scheduled to cliff vest on the fifth anniversary of the grant date, assuming Jared Bushek remains employed through that date. Cliff vesting means none of the units vest gradually; they vest all at once at the end of the period.
Under what circumstances can the MGEE CFO’s RSUs vest early?
The RSUs may vest earlier if Jared Bushek dies, becomes disabled, or is terminated without cause, or resigns for good reason within 24 months following a change in control of MGE Energy. These provisions are designed to protect the executive in certain adverse events.
Which incentive plan governs the MGEE executive’s retention stock award?
The retention award for Jared Bushek was granted under MGE Energy’s 2021 Long-Term Incentive Plan. This plan authorizes equity-based compensation such as restricted stock units, aligning executives’ interests with shareholders through long-term stock-based incentives and performance-linked retention structures.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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