Xcel Energy (XEL) CFO nets stock from performance and RSU awards

Rhea-AI Filing Summary

XCEL ENERGY INC Executive Vice President and Chief Financial Officer Brian J. Van Abel reported multiple equity transactions in company stock. On February 24, 2026, he acquired 28,041 common shares at a stated price of $0.00, representing settlement of performance share unit awards for the 2023–2025 period. He also acquired 8,202.026 common shares through the exercise and conversion of restricted stock units, which are settled in common stock on a one-for-one basis. To cover tax obligations related to these performance and restricted stock unit settlements, he disposed of 15,245.026 shares at $83.35 per share. Following these transactions, his directly held common stock position was 101,568.05 shares, and he indirectly held an additional 16.219 shares in the Xcel Energy Stock Fund under the company 401(k) Savings Plan as of a plan statement dated February 20, 2026.

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^*

Van Abel Brian J

(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)
	EVP, Chief Financial Officer

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		28,041(1)	A	$0	108,611.05(2)	D
Common Stock	02/24/2026		M		8,202.026	A	(3)	116,813.076	D
Common Stock	02/24/2026		F		15,245.026(4)	D	$83.35	101,568.05	D
Common Stock								16.219(5)	I	401(k)

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)	02/25/2025		M			8,202.026(6)	(7)	(7)	Common Stock	8,202.026	$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 2,116.585 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. Shares held in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan as of a plan statement dated February 20, 2026.

6. Number of units shown reflects the reinvestment of 781.026 dividend equivalents since the original grant of 7,421 units on January 3, 2023.

7. 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 Brian J. Van Abel	02/26/2026
	** 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).
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FAQ

What did XEL CFO Brian Van Abel report in this Form 4 filing?

XEL CFO Brian J. Van Abel reported equity awards settling into common stock, related tax-withholding share disposals, and updated direct and indirect holdings. The transactions reflect routine compensation events tied to performance share units and restricted stock units, plus 401(k) plan holdings.

How many Xcel Energy (XEL) shares did the CFO acquire on February 24, 2026?

On February 24, 2026, the CFO acquired 28,041 XEL common shares from settling 2023–2025 performance share units and 8,202.026 shares via restricted stock unit conversion. Both awards were settled at a stated $0.00 price per share as part of equity compensation.

How many XEL shares were disposed of to cover tax obligations in this filing?

The filing shows a tax-withholding disposition of 15,245.026 XEL common shares at $83.35 per share. These shares were withheld to satisfy tax obligations triggered by settlement of performance share unit awards and restricted stock unit awards linked to prior grants.

What are Brian Van Abel’s XEL share holdings after these transactions?

After the reported transactions, Brian Van Abel directly held 101,568.05 Xcel Energy common shares. He also indirectly held 16.219 additional shares in the Xcel Energy Stock Fund under the company’s 401(k) Savings Plan, based on a February 20, 2026 plan statement.

What types of equity awards are involved in this XEL Form 4 for the CFO?

The Form 4 involves performance share units for the 2023–2025 period and restricted stock units that convert into common stock one-for-one. Performance awards vested December 31, 2025 and were settled in shares on February 24, 2026, with associated tax-withholding share disposals.

Does the XEL CFO Form 4 show any open-market stock purchases or sales?

The reported transactions are equity award settlements, conversions, and tax-withholding dispositions, not open-market trades. Codes show grant or award acquisitions, derivative security exercises, and shares withheld to pay taxes, rather than discretionary buying or selling on the open market.