Director at WEC Energy (WEC) defers fees into new phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Cunningham Danny L
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 320.513 | $117.00 | $37K |
Holdings After Transaction:
Phantom Stock Units — 23,690.337 shares (Direct, null)
Footnotes (1)
- One-for-one. 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). 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. 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
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.