WEC director granted phantom stock units

WEC Energy Group director Danny L. Cunningham received 319.3800 Phantom Stock Units on April 7, 2026 as a grant/award tied one-for-one to WEC common stock.

Accepted by SEC EDGAR 04/08/2026 - 04:18 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

WEC Energy Group director Danny L. Cunningham received 319.3800 Phantom Stock Units on April 7, 2026 as a grant/award tied one-for-one to WEC common stock. The units were acquired through a deferral of director fees and accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan, with settlement governed by that plan. After this award, Cunningham holds a total of 23,168.8741 phantom stock units.

Insider Trade Summary

Grant/Award: 319.38 shares

Grant/Award 1 txn

Insider Cunningham Danny L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	319.38	$117.415	$38K

Holdings After Transaction: Phantom Stock Units — 23,168.8741 contracts (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.

Key Figures

Phantom Stock Units granted: 319.3800 units Price reference per unit: $117.4150 per unit Total Phantom Stock Units after grant: 23,168.8741 units +1 more

4 metrics

Phantom Stock Units granted 319.3800 units Grant/award acquisition on April 7, 2026

Price reference per unit $117.4150 per unit Transaction price for Phantom Stock Units

Total Phantom Stock Units after grant 23,168.8741 units Holdings following April 7, 2026 transaction

Conversion ratio 1:1 unit to common share Footnote states "One-for-one" linkage

Key Terms

Phantom Stock Units, Director's Deferred Compensation Plan (DDCP), Rule 16b-3(d), Rule 16a-11, +1 more

5 terms

Phantom Stock Units financial

"These phantom stock units were acquired pursuant to a deferral of director fees"

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.

Director's Deferred Compensation Plan (DDCP) financial

"accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP)"

Rule 16b-3(d) regulatory

"an acquisition exempt from Section 16(b) pursuant to Rule 16b-3(d)"

Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.

Rule 16a-11 regulatory

"transactions exempt from Section 16 pursuant to Rule 16a-11"

dividend reinvestment feature financial

"Includes phantom stock units accrued pursuant to a dividend reinvestment feature of the DDCP"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did WEC (WEC) director Danny L. Cunningham report in this Form 4?

Danny L. Cunningham reported receiving 319.3800 Phantom Stock Units as a grant on April 7, 2026. These units were acquired through a deferral of director fees and are credited under WEC Energy Group’s Director's Deferred Compensation Plan, increasing his total phantom unit holdings.

How many Phantom Stock Units does Danny L. Cunningham hold after this WEC (WEC) transaction?

After the April 7, 2026 grant, Danny L. Cunningham holds 23,168.8741 Phantom Stock Units. This total reflects units accrued under the WEC Energy Group Director's Deferred Compensation Plan, including those from fee deferrals and a dividend reinvestment feature described in the footnotes.

How were the new WEC (WEC) Phantom Stock Units for Danny L. Cunningham acquired?

The 319.3800 Phantom Stock Units were acquired through a deferral of director fees into the WEC Energy Group Director's Deferred Compensation Plan. The filing notes the acquisition is exempt from Section 16(b) under Rule 16b-3(d), characterizing it as a compensation-related, non-market transaction.

What does one-for-one mean for WEC (WEC) Phantom Stock Units in this filing?

The footnotes state “One-for-one,” meaning each Phantom Stock Unit corresponds to one share of WEC common stock. This links the value of the deferred compensation units directly to the company’s common stock on a unit-for-share basis under the plan’s terms.

What plan governs Danny L. Cunningham’s WEC (WEC) Phantom Stock Units?

His Phantom Stock Units are accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan. The filing explains that these units, including those from dividend reinvestment, will be settled in accordance with the plan’s terms, which define timing and form of settlement.

Are Danny L. Cunningham’s WEC (WEC) Phantom Stock Units open-market purchases or sales?

No, the reported transaction is a grant/award acquisition of 319.3800 Phantom Stock Units via deferred director fees. The footnotes describe it as exempt from Section 16(b) under Rule 16b-3(d), indicating a compensation-related plan transaction rather than an open-market trade.

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

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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 WISCONSIN 53203

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)	04/07/2026		A		319.38(2)		(3)	(3)	Common Stock	319.38	$117.415	23,168.8741(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	04/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)