Xcel Energy (XEL) SVP settles performance shares and withholds stock for taxes

Rhea-AI Filing Summary

Xcel Energy SVP Patricia Correa reported equity award activity involving performance share units and restricted stock units that were settled in common stock on February 24, 2026. She acquired 3,235.053 restricted stock units through a derivative exercise and 11,053 shares of common stock as a grant or award, both at a stated price of $0.0000 per share. An additional 3,235.053 shares of common stock were acquired upon conversion of derivative awards, and 4,921.053 shares of common stock were withheld at $83.35 per share to cover tax obligations. The filing notes these transactions relate to performance share unit awards for the 2023–2025 performance period, which vested on December 31, 2025 and were settled in stock on February 24, 2026, and that dividend reinvestment increased both units and share counts. Following these transactions, Correa directly owned 20,874.373 shares of Xcel Energy common stock.

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

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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^*

Correa Patricia

(Last) (First) (Middle)

414 NICOLLET MALL

(Street)

MINNEAPOLIS MN 55401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
XCEL ENERGY INC [ XEL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Human Resources Off

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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
Common Stock	02/24/2026		A		11,053(1)	A	$0	22,560.373(2)	D
Common Stock	02/24/2026		M		3,235.053	A	(3)	25,795.426	D
Common Stock	02/24/2026		F		4,921.053(4)	D	$83.35	20,874.373	D

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
Restricted Stock Units	(3)	02/24/2026		M			3,235.053(5)	(6)	(6)	Common Stock	3,235.053	$0	0	D

Explanation of Responses:

1. Represents the settlement of performance share unit awards for the 2023-2025 performance period.

2. The amount includes 201.917 shares of stock acquired pursuant to the reinvestment of dividends since the reporting person's last report.

3. Restricted stock units are settled in common stock on a one-for-one basis.

4. Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2023-2025 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

5. Number of units shown reflects the reinvestment of 308.053 dividend equivalents since the original grant of 2,927 units on January 3, 2023.

6. Award vested on December 31, 2025 but was settled in shares of common stock on February 24, 2026.

	Kristin L. Westlund, Attorney in Fact for Patricia Correa	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Xcel Energy (XEL) SVP Patricia Correa report?

Patricia Correa reported settlement of performance share units and restricted stock units into common stock, plus a new stock grant. She also reported shares withheld to satisfy tax obligations related to these awards, resulting in a revised direct ownership position in Xcel Energy common stock.

How many Xcel Energy (XEL) shares did Patricia Correa acquire in these Form 4 transactions?

Correa acquired 3,235.053 restricted stock units through a derivative exercise and 11,053 common shares as a grant, plus 3,235.053 additional common shares from derivative conversion. These awards stem from the 2023–2025 performance period and related restricted stock unit grants, all settled in Xcel Energy stock.

Why were some Xcel Energy (XEL) shares withheld in Patricia Correa’s Form 4 filing?

The filing states 4,921.053 Xcel Energy common shares were withheld at $83.35 per share to satisfy tax obligations. These taxes arose upon settlement of the 2023–2025 performance share unit awards and restricted stock unit awards, with any fractional share interests settled in cash.

What performance period is referenced in Patricia Correa’s Xcel Energy (XEL) equity awards?

The equity awards relate to performance share units covering the 2023–2025 performance period. The award vested on December 31, 2025 and was then settled in shares of Xcel Energy common stock on February 24, 2026, according to the disclosed footnotes.

How did dividend reinvestment affect Patricia Correa’s Xcel Energy (XEL) holdings?

The filing notes 201.917 shares were acquired through dividend reinvestment since Correa’s last report. It also explains the number of units includes 308.053 dividend equivalents added since the original January 3, 2023 grant of 2,927 units, increasing both units and share counts.

What is Patricia Correa’s reported Xcel Energy (XEL) common stock ownership after these transactions?

After all acquisitions and tax withholdings, Correa’s direct ownership stands at 20,874.373 Xcel Energy common shares. This figure reflects settled performance share units, restricted stock unit awards, dividend reinvestment, and the shares withheld to cover associated tax obligations reported in the Form 4.