Xcel Energy (XEL) officer reports 700-share indirect stock transaction

Rhea-AI Filing Summary

Xcel Energy Inc. executive Michael G. Lamb, EVP and Chief Delivery Officer, reported an indirect transaction in the company’s common stock. On 12/16/2025, a transaction coded “G” in Table I shows that 700 shares of common stock held by the Michael G. Lamb Family Trust were disposed of at a price of $0 per share.

Following this transaction, the filing shows 23,808.444 shares of Xcel Energy common stock beneficially owned indirectly through the family trust. It also reports 2,009.271 shares held indirectly in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan, based on a plan statement dated December 10, 2025.

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^*

Lamb Michael G.

(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 Delivery Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2025

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	12/16/2025		G		700	D	$0	23,808.444	I	By Michael G. Lamb Family Trust
Common Stock								2,009.271(1)	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

Explanation of Responses:

1. Shares held in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan as of a plan statement dated December 10, 2025.

	Kristin L. Westlund, Attorney in Fact for Michael G. Lamb	12/16/2025
	** 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.

FAQ

What insider transaction did Xcel Energy (XEL) executive Michael G. Lamb report?

The filing reports that 700 shares of Xcel Energy common stock held indirectly by the Michael G. Lamb Family Trust were disposed of on 12/16/2025 at a price of $0 per share, coded as transaction type “G” in Table I.

What is Michael G. Lamb’s role at Xcel Energy (XEL)?

Michael G. Lamb is identified as an Officer of Xcel Energy with the title EVP, Chief Delivery Officer, as shown in the relationship section of the Form 4.

How many Xcel Energy shares does Michael G. Lamb beneficially own after the reported transaction?

After the reported transaction, the form shows 23,808.444 shares of Xcel Energy common stock beneficially owned indirectly through the Michael G. Lamb Family Trust, and 2,009.271 shares held indirectly in the Xcel Energy Stock Fund under the company’s 401(k) Savings Plan.

When did the earliest reported Xcel Energy (XEL) transaction occur on this Form 4?

The Form 4 lists the Date of Earliest Transaction as 12/16/2025, which matches the transaction date shown in Table I for the common stock entry.

Is this Xcel Energy (XEL) Form 4 filed for more than one reporting person?

No. The Form 4 indicates that it is filed by one reporting person, as shown by the checked line “Form filed by One Reporting Person” in section 6.

How are Michael G. Lamb’s indirect Xcel Energy (XEL) holdings structured?

The filing shows indirect ownership in two ways: 23,808.444 shares of common stock held by the Michael G. Lamb Family Trust, and 2,009.271 shares held in the Xcel Energy Stock Fund within the Xcel Energy 401(k) Savings Plan.