MGE Energy Inc. filings document the regulatory reporting of a Wisconsin public utility holding company and its principal utility subsidiary, Madison Gas and Electric. The record includes Form 8-K reports for earnings releases, Regulation FD financial presentations, material agreements, capital-market transactions, and officer and compensation matters.
Company filings also cover common-stock offering arrangements, forward sale agreements, at-the-market equity distribution programs, proxy governance, board matters, executive compensation, shareholder voting materials, and disclosure for electric and gas utility operations in Wisconsin.
MGE Energy, Inc. is registering 3,300,331 shares of common stock and offering 990,099 shares directly, with an aggregate of 2,310,232 additional shares to be delivered by forward sellers under forward sale agreements. At an initial public offering price of $75.75 per share, the underwriters will pay $72.9094 per share to the issuer for shares sold directly by MGE, and the filing describes forward sale mechanics that may result in physical settlement, cash settlement, or net share settlement no later than approximately 20 months after the prospectus supplement date. The company expects initial net proceeds to be approximately $72.2 million before expenses and, assuming full physical settlement of the forward sales at the initial forward sale price, aggregate net proceeds to the company of approximately $168.4 million. The prospectus supplement details dilution, underwriting arrangements, FINRA Rule 5121 conflict-of-interest compliance, and forward purchaser acceleration and settlement rights.
MGE Energy, Inc. is offering common stock in a mixed transaction totaling $250,000,000, consisting of $75,000,000 of shares offered and sold by the company and $175,000,000 of shares to be sold by forward sellers under forward sale agreements.
The prospectus supplement describes forward sale agreements with Morgan Stanley, BofA and J.P. Morgan that contemplate physical settlement within approximately 20 months, with alternative cash or net share settlement mechanics and price adjustments tied to a floating interest factor and expected dividends. The filing shows 36,756,422 shares issued and outstanding as of May 5, 2026 and uses proceeds for general corporate purposes.
MGE Energy, Inc. reported stronger results for the first quarter of 2026. GAAP net income rose to $48.5 million, or $1.32 per share, up from $41.6 million, or $1.14 per share, a year earlier. Operating revenues increased to $242.7 million from $219.0 million.
Electric segment earnings increased by $5.5 million, driven by strategic capital investments that expanded the rate base, largely from deploying key renewable energy projects. The gas segment delivered stable net income with minimal variation from the prior-year quarter.
MGE Energy reported stronger Q1 2026 results, with net income of $48.5 million or $1.32 per share, up from $41.6 million or $1.14 a year earlier. Total operating revenue rose to $242.7 million from $219.0 million, driven by higher electric and gas revenues and new rates effective in 2026.
The effective tax rate declined to 10.8%, helped by federal production and investment tax credits tied to renewable and storage projects and higher non‑taxable AFUDC equity income. Capital expenditures more than doubled to $101.1 million, reflecting heavy investment in solar, wind, battery and storage projects.
Cash flow from operations was $80.7 million, funding part of this buildout alongside a new $90 million long‑term debt issue and an at‑the‑market equity program that sold 154,321 shares for net proceeds of $11.5 million. The company also deferred $4.4 million of 2026 fuel savings under Wisconsin fuel rules, which will be reviewed by regulators and returned through future rates.
MGE Energy Inc ownership disclosure: Vanguard Capital Management reports beneficial ownership of 1,936,460 shares of MGE Energy common stock, representing 5.29% of the class. The filing lists 295,434 shares as sole voting power and shows sole dispositive power over 1,936,460 shares. The filing is signed on 04/30/2026.
Vanguard Portfolio Management reports beneficial ownership of 2,686,624 shares (7.34%) of MGE Energy Inc common stock as of 03/31/2026. The filing shows sole dispositive power over 2,686,624 shares and sole voting power over 23,523 shares. The disclosure states these holdings include shares held for Vanguard funds and managed accounts over which Vanguard Portfolio Management LLC or its affiliates exercise dispositive power. The schedule is signed by Ashley Grim, Head of Global Fund Administration, on 04/29/2026.
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.
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.
MGE Energy, Inc. issues its 2026 proxy describing strategy, governance and plans ahead of a virtual annual meeting on May 19, 2026 at 11:00 a.m. CT. The company marks 50 consecutive years of dividend increases and a five-year 7% compound annual growth rate in earnings per share and assets.
MGE projects nearly $2 billion of capital investment over the next five years, focused on wind, solar, battery storage and natural gas generation to support reliability. Since 2015 it has added 253 MW of solar, 93 MW of wind and 11 MW of battery storage, targeting net-zero carbon electricity by 2050.
The proxy highlights strong board independence, a lead independent director, refreshed board composition with four new directors since 2021, and three voting items: electing three Class I directors to terms expiring at the 2029 annual meeting, ratifying PricewaterhouseCoopers LLP as auditor for 2026, and an advisory vote to approve executive compensation.