WEC Energy Group (WEC) EVP & General Counsel receives phantom stock grant

Rhea-AI Filing Summary

WEC Energy Group Executive VP & General Counsel Margaret C. Kelsey reported an acquisition of phantom stock units linked one-for-one to WEC common stock. On March 4, 2026, she was granted 656.544 phantom stock units at a reference price of $117.55 per unit under the company’s Nonqualified Retirement Savings Plan (NQRSP). These units are scheduled to be settled after her retirement or other termination of employment. Following this grant, her balance increased to 6,096.188 phantom stock units, which includes units accrued through the plan’s dividend reinvestment feature.

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

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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^*

KELSEY MARGARET C

(Last) (First) (Middle)

231 W. MICHIGAN STREET

(Street)

MILWAUKEE WI 53203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WEC ENERGY GROUP, INC. [ WEC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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
Phantom Stock Units	(1)	03/04/2026		A		656.544		(2)	(2)	Common Stock	656.544	$117.55	6,096.188(3)	D

Explanation of Responses:

1. One-for-one.

2. These phantom stock units were accrued under the WEC Energy Group, Inc. Nonqualified Retirement Savings Plan (NQRSP). Phantom stock units accrued under the NQRSP are settled following the reporting person's retirement or other termination of employment.

3. Includes phantom stock units accrued pursuant to a dividend reinvestment feature of the NQRSP in transactions exempt from Section 16 pursuant to Rule 16a-11.

Remarks:

	Joshua M. Erickson, as attorney in fact	03/06/2026
	** 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.

FAQ

What insider transaction did WEC (WEC) report for Margaret C. Kelsey?

WEC reported that Executive VP & General Counsel Margaret C. Kelsey acquired 656.544 phantom stock units on March 4, 2026. The units were granted under the Nonqualified Retirement Savings Plan at a reference price of $117.55 per unit and increase her deferred compensation holdings.

What are phantom stock units in the WEC (WEC) Form 4 filing?

The Form 4 describes phantom stock units that are linked one-for-one to WEC common stock. They are bookkeeping entries in a Nonqualified Retirement Savings Plan and do not represent actual shares until settlement, which occurs after the executive’s retirement or other termination of employment.

How many phantom stock units does the WEC (WEC) executive hold after the transaction?

After the March 4, 2026 grant, Margaret C. Kelsey holds a total of 6,096.188 phantom stock units. This total reflects the newly granted 656.544 units plus previous units, including amounts accrued through a dividend reinvestment feature within the Nonqualified Retirement Savings Plan.

When will the WEC (WEC) phantom stock units for the executive be settled?

The phantom stock units accrued under WEC’s Nonqualified Retirement Savings Plan are scheduled to be settled following the executive’s retirement or other termination of employment. Until that time, they function as deferred compensation entries tied to the value of WEC common stock on a one-for-one basis.

How were additional WEC (WEC) phantom stock units accumulated besides the new grant?

In addition to the new grant, the executive’s phantom stock units include amounts accrued through a dividend reinvestment feature of the Nonqualified Retirement Savings Plan. Dividends credited under this feature are converted into additional phantom stock units in transactions exempt from Section 16 under Rule 16a-11.