MGE Energy CFO awarded 25,000 RSUs

MGE Energy reported that its Vice President, Chief Financial Officer and Treasurer, Jared Joseph Bushek, received a grant of 25,000 shares of Common Stock in the form of restricted stock units.

Rhea-AI Filing Summary

MGE Energy reported that its Vice President, Chief Financial Officer and Treasurer, Jared Joseph Bushek, received a grant of 25,000 shares of Common Stock in the form of restricted stock units. The grant was awarded at $0.00 per share as a compensation-related award, not an open‑market purchase.

The restricted stock units convert into common stock on a one-to-one basis when they vest on April 17, 2031. After this award, Bushek directly holds a total of 35,795.6544 shares of Common Stock, including adjustments for accrued dividends through dividend reinvestment.

Insider Trade Summary

Grant/Award: 25,000 shares

Grant/Award 1 txn

Insider Bushek Jared Joseph

Role VP Chief Fin. Off. & Treasurer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	25,000	$0.00	$0.00

Holdings After Transaction: Common Stock — 35,795.6544 shares (Direct)

Footnotes (2)

1. F1. Represents restricted stock units (RSUs) which are converted to common stock on a one-to-one basis when vested. The RSUs vest on April 17, 2031.
2. F2. Includes adjustments for accrued dividends pursuant to dividend reinvestment and exempt from Sec 16 under Rule 16a-11.

Key Figures

RSU grant size: 25,000 shares Grant price: $0.00 per share Post-transaction holdings: 35,795.6544 shares +1 more

4 metrics

RSU grant size 25,000 shares Restricted stock units granted to CFO on April 17, 2026

Grant price $0.00 per share Award price for RSU grant

Post-transaction holdings 35,795.6544 shares Total common stock directly held after grant

RSU vesting date April 17, 2031 Date when RSUs convert one-to-one into common stock

Key Terms

restricted stock units (RSUs), dividend reinvestment, Rule 16a-11

3 terms

restricted stock units (RSUs) financial

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

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

dividend reinvestment financial

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

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.

Rule 16a-11 regulatory

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

FAQ

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

What insider transaction did MGE Energy (MGEE) disclose for Jared Joseph Bushek?

MGE Energy disclosed that Jared Joseph Bushek received a grant of 25,000 restricted stock units. These RSUs are a compensation-related award, not an open-market purchase, and they convert into common stock on a one-to-one basis once they vest.

At what price were the 25,000 MGE Energy (MGEE) shares granted to Jared Joseph Bushek?

The 25,000 restricted stock units granted to Jared Joseph Bushek were awarded at a price of $0.00 per share. This reflects an equity compensation grant rather than a cash purchase, aligning with typical executive long-term incentive structures at public companies.

When do Jared Joseph Bushek’s MGE Energy (MGEE) restricted stock units vest?

Jared Joseph Bushek’s restricted stock units vest on April 17, 2031. When they vest, the RSUs convert into common stock on a one-to-one basis, providing him with an equivalent number of MGE Energy common shares at that future vesting date.

How many MGE Energy (MGEE) shares does Jared Joseph Bushek hold after this Form 4 transaction?

Following this grant, Jared Joseph Bushek directly holds a total of 35,795.6544 shares of MGE Energy common stock. This figure includes adjustments for accrued dividends that were added through dividend reinvestment and are exempt from Section 16 under Rule 16a-11.

What are restricted stock units (RSUs) in the context of MGE Energy (MGEE)?

In this context, restricted stock units are awards that convert into MGE Energy common stock on a one-to-one basis when they vest. They are granted at no cash cost to the executive and typically serve as long-term incentive compensation tied to continued service or performance.

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

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Accepted by SEC EDGAR 04/21/2026 - 05:03 PM EDT 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^*

Bushek Jared Joseph

(Last) (First) (Middle)

623 RAILROAD 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP Chief Fin. Off. & Treasurer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/17/2026

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	04/17/2026		A		25,000(1)	A	$0	35,795.6544(2)	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. Represents restricted stock units (RSUs) which are converted to common stock on a one-to-one basis when vested. The RSUs vest on April 17, 2031.

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

	/s/ Jared J Bushek	04/21/2026
	** 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)