WEC Energy (NYSE: WEC) COO granted 2,582 phantom stock units, shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WEC Energy Group EVP & Chief Operating Officer Michael Hooper received 2,582.4223 phantom stock units linked one-for-one to common stock. The award was granted under his employment agreement and accrued within the Executive Deferred Compensation Plan, which also reinvests dividends into additional units.
On the same date, 424 common shares were withheld at about $115.945 per share to cover tax obligations related to equity compensation, a non-market disposition. After these transactions, Hooper directly held 7,719.704 common shares and 9,369.0042 phantom stock units.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Hooper Michael
Role
EVP & Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 2,582.422 | $116.17 | $300K |
| Tax Withholding | Common Stock | 424 | $115.945 | $49K |
Holdings After Transaction:
Phantom Stock Units — 9,369.004 shares (Direct);
Common Stock — 7,719.704 shares (Direct)
Footnotes (1)
- Includes shares acquired pursuant to dividend reinvestment in transactions exempt from Section 16 pursuant to Rule 16a-11. One-for-one. These phantom stock units were awarded to Mr. Hooper pursuant to the terms of his employment agreement. These phantom stock units were accrued under the WEC Energy Group, Inc. Executive Deferred Compensation Plan (EDCP) and are to be settled in accordance with the terms of the plan. Includes phantom stock units accrued pursuant to a dividend reinvestment feature of the EDCP in transactions exempt from Section 16 pursuant to Rule 16a-11.
Key Figures
Phantom units granted: 2,582.4223 units
Phantom unit reference price: $116.1700 per unit
Total phantom units after grant: 9,369.0042 units
+3 more
6 metrics
Phantom units granted
2,582.4223 units
Award on 2026-04-01 under employment agreement
Phantom unit reference price
$116.1700 per unit
Grant valuation for phantom stock units
Total phantom units after grant
9,369.0042 units
Phantom stock units held following the award
Shares withheld for taxes
424.0000 shares
Common stock withheld as tax-withholding disposition
Tax withholding price
$115.9450 per share
Value used for 424-share tax withholding
Common shares after withholding
7,719.7040 shares
Direct WEC common stock holdings post-transaction
Key Terms
Phantom Stock Units, Executive Deferred Compensation Plan, dividend reinvestment, Section 16, +1 more
5 terms
Phantom Stock Units financial
"These phantom stock units were awarded to Mr. Hooper pursuant to the terms of his employment agreement."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Executive Deferred Compensation Plan financial
"These phantom stock units were accrued under the WEC Energy Group, Inc. Executive Deferred Compensation Plan (EDCP)"
dividend reinvestment financial
"Includes shares acquired pursuant to dividend reinvestment in transactions exempt from Section 16 pursuant to 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.
Section 16 regulatory
"transactions exempt from Section 16 pursuant to Rule 16a-11."
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
Rule 16a-11 regulatory
"transactions exempt from Section 16 pursuant to Rule 16a-11."
FAQ
What insider transactions did WEC EVP Michael Hooper report on this Form 4 for WEC?
Michael Hooper reported receiving 2,582.4223 phantom stock units tied to WEC common stock and a withholding of 424 common shares for tax obligations. These events reflect compensation and tax settlement, not open-market buying or selling activity in WEC shares.
What are the phantom stock units granted to WEC executive Michael Hooper?
Hooper received 2,582.4223 phantom stock units, each tied one-for-one to a WEC common share. These units were awarded under his employment agreement and accrued in the Executive Deferred Compensation Plan, where they track WEC’s stock value and dividend reinvestment for deferred compensation purposes.
How many phantom stock units does Michael Hooper hold after these WEC transactions?
Following the grant, Michael Hooper holds 9,369.0042 phantom stock units linked to WEC common stock. This total includes units from his latest award plus prior accruals, as well as additional units credited through dividend reinvestment features within the company’s Executive Deferred Compensation Plan.