MGE Energy (MGEE) director boosts stake to 9,738.2959 shares

Rhea-AI Filing Summary

MGE ENERGY INC (MGEE) director James G. Berbee reported an open-market purchase of 261.3641 shares of Common Stock at $81.30 per share on 2026-08-19. Following this transaction, his directly held position increased to 9,738.2959 shares, which includes adjustments for accrued dividends through dividend reinvestment exempt under Rule 16a-11.

Insider Trade Summary

Net Buyer: 261.3641 shares

Net Buy 1 txn

Insider Berbee James G

Role Director

Bought 261.3641 shs ($21K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	261.3641	$81.30	$21K

Holdings After Transaction: Common Stock — 9,738.2959 shares (Direct)

Footnotes (1)

1. F1. Includes adjustments for accrued dividends pursuant to dividend reinvestment and exempt from Sec 16 under Rule 16a-11

Key Figures

Shares purchased: 261.3641 shares Purchase price per share: $81.30 Shares owned after transaction: 9,738.2959 shares

3 metrics

Shares purchased 261.3641 shares Common Stock purchased on 2026-08-19

Purchase price per share $81.30 Open-market or private purchase on 2026-08-19

Shares owned after transaction 9,738.2959 shares Directly held Common Stock following the reported purchase

Key Terms

dividend reinvestment, accrued dividends, Rule 16a-11

3 terms

dividend reinvestment financial

"Includes adjustments for accrued dividends pursuant to dividend reinvestment"

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

accrued dividends financial

"Includes adjustments for accrued dividends pursuant to dividend reinvestment"

Accrued dividends are payments a company owes to shareholders that have been earned or officially declared but not yet paid; think of them as an IOU the company has for past dividend obligations. They matter to investors because they represent a near-term claim on a company’s cash, affect the company’s reported liabilities and value, and can be especially important when assessing income reliability or priority in a payout situation.

Rule 16a-11 regulatory

"exempt from Sec 16 under Rule 16a-11"

FAQ

What insider transaction did MGEE director James G. Berbee report?

James G. Berbee reported a purchase of 261.3641 shares of MGE ENERGY INC Common Stock on 2026-08-19 in an open-market or private transaction at $81.30 per share.

How many MGEE shares does James G. Berbee hold after this Form 4 transaction?

After the reported transaction, James G. Berbee directly holds 9,738.2959 shares of MGE ENERGY INC Common Stock, including adjustments for accrued dividends through dividend reinvestment as noted in the filing.

Was the MGEE insider trade by James G. Berbee a buy or a sell?

The reported MGEE insider trade by James G. Berbee was a buy. He purchased 261.3641 shares of Common Stock in an open-market or private transaction at $81.30 per share.

What is the significance of the dividend reinvestment footnote in this MGEE Form 4?

The footnote explains that the reported holdings include adjustments for accrued dividends credited through a dividend reinvestment arrangement, which is exempt from Section 16 under Rule 16a-11.

Does the MGEE Form 4 indicate use of a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed for this transaction, and there is no footnote stating that the trade was made pursuant to a Rule 10b5-1 trading plan.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/20/2026 - 05:51 PM Accepted by SEC EDGAR 08/20/2026 - 05:51 PM Learn about SEC filing dates

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^*

Berbee James G

(Last) (First) (Middle)

133 S BLAIR STREET

PO BOX 1231

(Street)

MADISON WISCONSIN 53701-1231

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MGE ENERGY INC [ MGEE ]

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)
08/19/2026

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	08/19/2026		P		261.3641	A	$81.3	9,738.2959(1)	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

Explanation of Responses:

1. Includes adjustments for accrued dividends pursuant to dividend reinvestment and exempt from Sec 16 under Rule 16a-11

	/s/ James G. Berbee	08/20/2026
	** 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)