Xcel Energy awards director Welsh a stock grant

A director's stock equivalent award is payable in whole common shares after service ends, with fractional units payable in cash.

Rhea-AI Filing Summary

Xcel Energy Inc. director Timothy A. Welsh acquired 580.229 stock equivalent units as a retainer award on September 28, 2026. Of these, 483.524 units were granted at $69.80 per unit in lieu of his quarterly cash retainer, and 96.705 units were granted at no cost as a 20% premium. The units are payable in whole common shares after his director service ends, with fractional units payable in cash. His reported post-transaction Common Stock position was 18,194.896 shares, including 128.133 stock equivalent units from dividend-equivalent reinvestment. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 580.229 shares

Grant/Award 1 txn

Insider Welsh Timothy A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1, F2, F3	580.229	$0.00	$0.00

Holdings After Transaction: Common Stock — 18,194.896 shares (Direct)

Footnotes (3)

1. F1. Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.
2. F2. Of the 580.229 stock equivalent units, 483.524 were granted at a price of $69.80 per unit in lieu of the reporting person's quarterly cash retainer, and 96.705 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.
3. F3. Includes 128.133 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Key Figures

Stock equivalent units awarded: 580.229 units Retainer units: 483.524 units at $69.80 per unit Premium units: 96.705 units; 20% premium +2 more

5 metrics

Stock equivalent units awarded 580.229 units Retainer award on September 28, 2026

Retainer units 483.524 units at $69.80 per unit Granted in lieu of the quarterly cash retainer

Premium units 96.705 units; 20% premium Granted at no cost

Reported post-transaction Common Stock position 18,194.896 shares After the September 28, 2026 transaction

Dividend-equivalent reinvestment 128.133 stock equivalent units Included in the reported post-transaction position

Key Terms

stock equivalent units, dividend equivalents, Rule 10b5-1 plan

3 terms

stock equivalent units financial

"retainer granted in the form of stock equivalent units"

Stock equivalent units are financial claims or instruments that are treated as if they were actual shares for purposes like calculating ownership, dilution, and earnings per share. Think of them as promises or placeholders for future slices of company pie—options, restricted units, or convertible securities—that don’t yet sit on the table but will reduce each existing slice when converted. Investors track them because they change how much of a company each share really represents and can affect valuation and voting power.

dividend equivalents financial

"reinvestment of dividend equivalents"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Rule 10b5-1 plan regulatory

"No Rule 10b5-1 plan is reported"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

FAQ

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

How many stock equivalent units did XEL director Timothy A. Welsh receive?

Timothy A. Welsh received 580.229 stock equivalent units as a retainer award on September 28, 2026. Of these, 483.524 units were granted at $69.80 per unit in lieu of the quarterly cash retainer, and 96.705 units were granted at no cost as a 20% premium.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/30/2026 - 04:02 PM Accepted by SEC EDGAR 09/30/2026 - 04:02 PM 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^*

Welsh Timothy A

(Last) (First) (Middle)

414 NICOLLET MALL

(Street)

MINNEAPOLIS MINNESOTA 55401

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
09/28/2026

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
Common Stock	09/28/2026		A		580.229(1)	A	$0(2)	18,194.896(3)	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

Explanation of Responses:

1. Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash.

2. Of the 580.229 stock equivalent units, 483.524 were granted at a price of $69.80 per unit in lieu of the reporting person's quarterly cash retainer, and 96.705 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

3. Includes 128.133 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents.

Remarks:

	Kristin L. Westlund, Attorney in Fact for Timothy A. Welsh	09/30/2026
	** 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)