MGE Energy director awarded 1,039 RSUs

MGE Energy Inc. director Londa J. Dewey reported receiving a grant of 1,039 Restricted Stock Units (RSUs).

Rhea-AI Filing Summary

MGE Energy Inc. director Londa J. Dewey reported receiving a grant of 1,039 Restricted Stock Units (RSUs). Each RSU converts into one share of MGE Energy common stock when it vests, giving her a potential future equity stake tied to the company’s performance.

The RSUs vest on December 31, 2026, meaning they generally must be held until that date before converting to common shares or cash. At vesting, Dewey may elect to receive the award in stock or choose to have up to 25% paid in cash, providing some flexibility in how she realizes the value.

Insider Trade Summary

Grant/Award: 1,039 shares

Grant/Award 1 txn

Insider DEWEY LONDA J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	1,039	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 1,039 contracts (Direct)

Footnotes (2)

1. F1. Represents restricted stock units (RSUs) which are converted to common stock on a one-to-one basis when vested.
2. F2. The RSUs vest on December 31, 2026. The reporting person can elect stock or has the option to be paid out 25% in cash.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did MGE Energy (MGEE) director Londa J. Dewey report?

Director Londa J. Dewey reported receiving a grant of 1,039 restricted stock units from MGE Energy. These RSUs represent a future right to receive common shares or partial cash, aligning her compensation with long-term company performance through equity-based incentives.

How many restricted stock units did Londa J. Dewey receive at MGE Energy (MGEE)?

Londa J. Dewey received 1,039 restricted stock units from MGE Energy. Each unit is linked to one share of common stock upon vesting, giving her potential ownership and aligning her interests with shareholders as the company’s value changes over time.

When do Londa J. Dewey’s RSUs at MGE Energy (MGEE) vest?

The restricted stock units granted to Londa J. Dewey vest on December 31, 2026. Vesting on this date means the RSUs convert into shares or cash only then, encouraging longer-term alignment with MGE Energy’s strategic and financial performance.

What can Londa J. Dewey receive when her MGE Energy (MGEE) RSUs vest?

Upon vesting, Londa J. Dewey can receive MGE Energy common stock for her RSUs, with each unit converting one-to-one into a share. She also has the option to receive up to 25% of the award’s value in cash instead of stock.

Does the MGE Energy (MGEE) RSU grant to Londa J. Dewey involve a purchase price?

The RSU grant to Londa J. Dewey carries a stated transaction price of $0.00 per unit. This reflects that restricted stock units are an equity-based compensation award, not shares bought on the open market for cash consideration by the director.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/03/2026 - 12:20 PM EST 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^*

DEWEY LONDA J

(Last) (First) (Middle)

133 S BLAIR STREET

PO BOX 1231

(Street)

MADISON WI 53701-1231

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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
Restricted Stock Units	(1)	03/02/2026		A		1,039(1)		(2)	(2)	common stock	1,039	$0	1,039	D

Explanation of Responses:

1. Represents restricted stock units (RSUs) which are converted to common stock on a one-to-one basis when vested.

2. The RSUs vest on December 31, 2026. The reporting person can elect stock or has the option to be paid out 25% in cash.

	/s/ Londa J. Dewey	03/03/2026
	** 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.