WEC Energy SEC Filings

WEC Energy Group disclosed how it will measure 2026 incentive pay for its senior executives. Under the Short-Term Performance Plan, most named executive officers will have annual bonuses tied largely to financial goals based on earnings per share (75% weight) and cash flow (25% weight). Those awards can then be adjusted by up to 10% depending on results in customer satisfaction (5%), safety (2.5%), and supplier diversity and workforce development (2.5%) across all WEC Energy Group companies.

For executives focused on Wisconsin utility operations, 2026 bonuses will depend on earnings per share (25%), cash flow (25%), and aggregate net income from Wisconsin utilities (50%), with similar operational and social modifiers. For long‑term 2026 performance unit awards, payouts will be driven by total shareholder return versus a custom peer group (55%) and performance versus the weighted average authorized return on equity of all utility subsidiaries (45%), with a price‑to‑earnings ratio measure that can increase vesting by up to 25%, capped at 200% of target.

WEC Energy Group (WEC) reported a routine insider transaction for an executive. An officer serving as EVP WEC Infrastructure acquired 2,700 shares of common stock on 11/20/2025 at a price of $110.64 per share through the WEC Energy Group Retirement Savings Plan, reported as indirect ownership. After this transaction, the executive holds 2,700 shares indirectly in the retirement savings plan and 6,606 shares directly.

WEC Energy Group (WEC) reported an insider transaction by its VP and Deputy General Counsel. On 11/07/2025, the officer sold 100 shares of common stock at a weighted average price of $112.4684, with trades ranging from $112.45 to $112.49. Following the sale, the officer beneficially owned 2,586 shares directly. The filing also notes 6,417.74 shares held indirectly through the Employee Retirement Savings Plan, based on a plan statement dated October 31, 2025.

WEC Energy Group filed an 8-K under Item 7.01 (Regulation FD Disclosure). The company said its representatives will participate in upcoming investor meetings and provided the presentation materials to be used at those meetings.

The slides are furnished as Exhibit 99.1. The report is dated November 7, 2025. WEC Energy Group’s common stock (par value $0.01) trades on the NYSE under the symbol WEC.

WEC Energy Group, Inc. entered into an underwriting agreement to issue and sell $600,000,000 aggregate principal amount of 5.625% Fixed‑to‑Fixed Reset Rate Junior Subordinated Notes due 2056. The notes are being offered in a registered transaction under a Form S‑3 shelf (Registration No. 333-281253).

Barclays Capital, BofA Securities, Citigroup, Morgan Stanley, U.S. Bancorp Investments, and Wells Fargo Securities are acting as representatives of the underwriters. The filing also includes the securities resolution under the company’s existing indenture and related legal opinions and consents. This transaction adds long-dated junior subordinated debt to the company’s capital structure, using a registered public offering format.

WEC Energy Group launched a preliminary prospectus supplement for a primary offering of Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056. The notes pay a fixed rate until 2031, then reset every five years to the Five-Year Treasury Rate plus a spread, with a floor equal to the initial rate. Interest is paid semi-annually.

The company may defer interest for up to 20 consecutive semi-annual periods (up to 10 years); deferred amounts accrue and compound. During deferral, certain dividends, par‑or‑junior debt payments, and similar actions are restricted. The notes are unsecured and junior to Senior Indebtedness; Senior Indebtedness was approximately $6.3 billion as of September 30, 2025. The notes are not expected to be listed.

WEC intends to use net proceeds to repay short‑term debt and for general corporate purposes. Short‑term debt outstanding was $905.0 million at a weighted average 4.26% as of September 30, 2025. The notes may be redeemed at specified times at 100%, and at 102% upon certain rating agency methodology changes, or at 100% upon certain tax events.

WEC Energy Group entered an equity distribution agreement allowing it to offer and sell, from time to time, up to $3.0 billion of its common stock through designated sales agents or to them as principals. The program also permits forward sale agreements, including initially priced forwards and collared forwards, entered with affiliated forward purchasers under its effective Form S-3 shelf.

For forward transactions, WEC will not initially receive proceeds from sales of borrowed shares; it expects cash only upon future physical settlement at the applicable forward sale price, adjusted for commissions, interest factors and expected dividends. Collared forwards establish a floor and cap determined after an initial hedging period, with settlement payments reflecting those terms. Sales agents and forward sellers may receive commissions of up to 1.00% of sale prices. Actual sales will occur at WEC’s discretion based on market conditions, trading price, capital needs and funding determinations.

WEC Energy Group launched an at-the-market equity program to offer and sell common stock with an aggregate offering price of up to $3,000,000,000 under a new equity distribution agreement. Sales may be made from time to time through designated agents, as principals, or via forward transactions, including initially priced and collared forwards.

WEC plans to use net proceeds to repay short-term debt and for general corporate purposes. As of September 30, 2025, short-term debt was $905 million. The company will not initially receive proceeds from sales of borrowed shares by forward sellers; cash is expected upon physical settlement of forwards, subject to price adjustments, caps/floors (for collared forwards), commissions up to 1.00%, and other terms.

Shares may be sold in at-the-market offerings on the NYSE or otherwise, at prevailing, related, or negotiated prices. Common stock outstanding was 325,294,252 as of September 30, 2025; this is a baseline figure, not the amount being offered. WEC’s common stock trades on the NYSE as “WEC,” with a last reported sale price of $112.60 on October 30, 2025.

WEC Energy Group reported higher results for the quarter ended September 30, 2025. Operating revenues rose to $2,104.0 million from $1,863.5 million a year earlier, driven mainly by stronger electric and natural gas utility revenues and growing non‑utility renewable operations. Net income attributed to common shareholders increased to $271.3 million, with diluted EPS of $0.83, up from $0.76.

For the first nine months of 2025, operating revenues reached $7,263.0 million and net income attributed to common shareholders was $1,240.9 million, or diluted EPS of $3.85, compared with $6,315.7 million and $1,073.7 million, or $3.40 per diluted share, in 2024. The company continued heavy investment, with capital expenditures of $3,095.1 million, including a $406.1 million acquisition of the 250 MW Hardin III solar facility and ongoing spending on regulated projects.

WEC Energy Group strengthened liquidity through $2,954.8 million of operating cash flow and active financing. It issued $900.0 million of 3.375% convertible senior notes due 2028, multiple long‑term utility debt issues, and raised $797.3 million of equity via an at‑the‑market program, while retiring maturing senior notes and debentures.