WEC Energy director granted phantom stock units

WEC Energy Group director Danny L. Cunningham received a grant of phantom stock units as part of his director compensation.

Rhea-AI Filing Summary

WEC Energy Group director Danny L. Cunningham received a grant of phantom stock units as part of his director compensation. On July 8, he acquired 320.5128 phantom stock units, tied one-for-one to WEC common stock at a reference value of $117 per unit, through a deferral of director fees under the company’s Director's Deferred Compensation Plan. These units are to be settled according to the plan’s terms and include amounts accrued via a dividend reinvestment feature. Following this award, his deferred compensation balance totals 23,690.3371 phantom stock units. This is a non-market, compensation-related transaction rather than an open-market share purchase or sale.

Insider Trade Summary

Grant/Award: 320.5128 shares

Grant/Award 1 txn

Insider Cunningham Danny L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	320.5128	$117.00	$37K

Holdings After Transaction: Phantom Stock Units — 23,690.3371 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 units granted: 320.5128 units Reference value per unit: $117.00 per unit Total phantom units after grant: 23,690.3371 units +2 more

5 metrics

Phantom units granted 320.5128 units Director fee deferral grant on July 8

Reference value per unit $117.00 per unit Value used for phantom stock unit grant

Total phantom units after grant 23,690.3371 units Deferred compensation balance following transaction

Underlying security 320.5128 common shares One-for-one link to common stock per unit

Exercise/conversion price $0.00 Phantom stock units under compensation plan

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

"These phantom stock units were accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP)"

Rule 16b-3(d) regulatory

"acquired pursuant to a deferral of director fees in 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

"accrued pursuant to a dividend reinvestment feature of the DDCP in transactions exempt from Section 16 pursuant to Rule 16a-11"

Section 16(b) regulatory

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

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

FAQ

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

What did the latest Form 4 filing for WEC show about Danny L. Cunningham?

The Form 4 shows Danny L. Cunningham, a director of WEC Energy Group, received a grant of 320.5128 phantom stock units through deferred director fees, increasing his deferred compensation balance to 23,690.3371 units under the Director's Deferred Compensation Plan.

How many phantom stock units did WEC director Danny L. Cunningham acquire?

Danny L. Cunningham acquired 320.5128 phantom stock units. These units were credited pursuant to a deferral of director fees and accrued under WEC Energy Group’s Director's Deferred Compensation Plan, rather than being purchased in the open market as common stock.

What is the value reference for the phantom stock units granted to the WEC director?

The phantom stock units were granted at a reference value of $117 per unit. Each unit is linked one-for-one to WEC Energy Group common stock, providing stock-linked compensation without an immediate cash outlay or direct share purchase in the market.

Is Danny L. Cunningham’s WEC Form 4 transaction an open-market trade?

No, the transaction is not an open-market trade. The Form 4 indicates the phantom stock units were acquired through deferred director fees under the Director's Deferred Compensation Plan in an acquisition exempt from Section 16(b) under Rule 16b-3(d), not through market buying or selling.

How many phantom stock units does Danny L. Cunningham hold after this WEC transaction?

After this transaction, Danny L. Cunningham holds 23,690.3371 phantom stock units. This total reflects his accumulated deferred director compensation, including units from fee deferrals and amounts added through the plan’s dividend reinvestment feature over time.

What plan governs the phantom stock units reported in WEC’s Form 4?

The phantom stock units are governed by the WEC Energy Group, Inc. Director's Deferred Compensation Plan. Units are credited from deferred director fees, may accrue additional units via dividend reinvestment, and will be settled according to the specific terms established in that plan.

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

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Accepted by SEC EDGAR 07/09/2026 - 04:33 PM EDT 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 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)
07/08/2026

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)	07/08/2026		A		320.5128(2)		(3)	(3)	Common Stock	320.5128	$117	23,690.3371(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	07/09/2026
	** 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)