WEC director defers fees into 303.77 phantom units, 20,395.85 total

Rhea-AI Filing Summary

Director Danny L. Cunningham acquired 303.7667 phantom stock units on 10/07/2025 under the company's Director's Deferred Compensation Plan (DDCP). Each unit is one-for-one with common stock and reflects a per-share reference price of $115.22. The units were acquired as a deferral of director fees and include amounts accumulated through a dividend reinvestment feature; they are reported as exempt transactions under Rule 16b-3(d) and Rule 16a-11. After this acquisition, the reported beneficial ownership tied to these phantom units equals 20,395.8537 common-stock-equivalent units, held directly and to be settled according to the DDCP terms.

Positive

• Director increased equity alignment by deferring fees into 303.7667 phantom stock units
• Transaction exempt under Rule 16b-3(d), indicating standard director compensation deferral
• Dividend reinvestment feature contributed to a larger accumulated balance of 20,395.8537 units

Negative

• None.

Insights

Governance & Insider Compensation Analyst

Director deferred fees into 303.7667 phantom units, increasing equity alignment.

Converting director fees into phantom stock units aligns a director's compensation with shareholder returns without immediate stock issuance. The transaction uses the DDCP and includes a dividend reinvestment feature that grew the unit balance to 20,395.8537 common-stock equivalents.

Dependencies include the DDCP settlement terms and the company's future cash or share settlement practices; timing of settlement is not disclosed here. Monitor plan payout mechanics and any future filings that specify settlement dates or changes to the DDCP.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cunningham Danny L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	303.7667	$115.22	$35K

Holdings After Transaction: Phantom Stock Units — 20,395.8537 shares (Direct)

Footnotes (4)

1. F1. One-for-one.
2. F2. These phantom stock units were acquired pursuant to a deferral of director fees in an acquisition exempt from Section 16(b) pursuant to Rule 16b-3(d).
3. F3. These phantom stock units were accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP) and are to be settled in accordance with the terms of the plan.
4. F4. Includes phantom stock units accrued pursuant to a dividend reinvestment feature of the DDCP in transactions exempt from Section 16 pursuant to Rule 16a-11.

FAQ

Who filed the Form 4 for WEC (WEC) on 10/07/2025?

Danny L. Cunningham, a director of WEC Energy Group, filed the Form 4 reporting the transaction.

What security was acquired in the WEC Form 4 filing?

The filing reports acquisition of phantom stock units convertible one-for-one into common stock equivalents.

How many phantom stock units were acquired and at what reference price?

The director acquired 303.7667 phantom stock units with a per-share reference price of $115.22.

What is the reported beneficial ownership after the transaction?

The filing shows 20,395.8537 common-stock-equivalent units attributable after the transaction.

Under what plan were the units accrued?

They were accrued under the WEC Energy Group Director's Deferred Compensation Plan (DDCP) and settled per that plan's terms.

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

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Accepted by SEC EDGAR 10/09/2025 - 04:05 PM 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^*

Cunningham Danny L

(Last) (First) (Middle)

231 WEST 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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)	10/07/2025		A		303.7667(2)		(3)	(3)	Common Stock	303.7667	$115.22	20,395.8537(4)	D

Explanation of Responses:

1. One-for-one.

2. These phantom stock units were acquired pursuant to a deferral of director fees in an acquisition exempt from Section 16(b) pursuant to Rule 16b-3(d).

3. These phantom stock units were accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP) and are to be settled in accordance with the terms of the plan.

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

Remarks:

	Joshua M. Erickson, as attorney in fact	10/09/2025
	** 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.