MGE Energy director granted 1,039 RSUs

MGE Energy director James L. Possin reported receiving a grant of 1,039 restricted stock units (RSUs).

Rhea-AI Filing Summary

MGE Energy director James L. Possin reported receiving a grant of 1,039 restricted stock units (RSUs). These RSUs convert into MGE Energy common stock on a one-to-one basis when they vest. The RSUs are scheduled to vest on December 31, 2026, and Possin may elect stock or choose to receive up to 25% of the value in cash.

Insider Trade Summary

Grant/Award: 1,039 shares

Grant/Award 1 txn

Insider Possin James L

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 James L. Possin report?

James L. Possin reported an acquisition of 1,039 restricted stock units (RSUs). These units were granted at no stated price per share and represent a form of equity compensation that can convert into MGE Energy common stock on a one-to-one basis when they vest.

How many restricted stock units were granted to the MGE Energy (MGEE) director?

The director received 1,039 restricted stock units. This entire amount remains outstanding after the reported transaction, reflecting a new equity award rather than a purchase or sale in the open market, and forms part of the director’s direct beneficial ownership in MGE Energy.

When do James L. Possin’s MGE Energy (MGEE) RSUs vest?

The RSUs vest on December 31, 2026. Vesting means that on this date the restricted stock units become payable, allowing conversion into MGE Energy common stock or, in part, into cash, according to the terms described in the award’s footnotes.

How are the MGE Energy (MGEE) RSUs converted into common stock?

Each RSU converts into one share of MGE Energy common stock when vested. This one-to-one conversion ratio means the 1,039 RSUs can become 1,039 common shares, subject to the director’s election regarding partial cash settlement at the time of payout.

Can the MGE Energy (MGEE) director receive cash instead of shares for these RSUs?

Yes. The director may elect to receive stock or choose to be paid out 25% in cash. Under the award terms, up to one-quarter of the vested RSUs’ value can be settled in cash, with the remaining portion typically settled in common stock.

Is this MGE Energy (MGEE) Form 4 transaction a buy or a sale of shares?

This transaction is classified as a grant or award acquisition, not a buy or sale. The director was awarded 1,039 RSUs as equity compensation, with no purchase price, and did not dispose of any MGE Energy securities in this filing.

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

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Accepted by SEC EDGAR 03/03/2026 - 12:26 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^*

Possin James L

(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/ James L. Possin	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.