Xcel Energy (XEL) CEO awarded 42,065 restricted stock units

Rhea-AI Filing Summary

Xcel Energy Inc. reported that Chairman, President and CEO Robert Frenzel acquired 42,065 shares of common stock through a grant of restricted stock units at a price of $0.00 per share. These restricted stock units vest on December 31, 2028, contingent on his continued employment, and will settle one-for-one in Xcel Energy common stock.

Following this grant, Frenzel directly owns a total of 512,597.261 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

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^*

Frenzel Robert

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman, President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		A		42,065(1)	A	$0	512,597.261	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. Represents restricted stock units that vest on December 31, 2028 if the reporting person continues to be employed by Xcel Energy as of such date. Upon vesting, the restricted stock units will be settled in shares of Xcel Energy common stock on a one-for-one basis.

	Kristin L. Westlund, Attorney in Fact for Robert Frenzel	03/04/2026
	** 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.

FAQ

What insider transaction did XEL report for Robert Frenzel?

Xcel Energy reported that CEO Robert Frenzel acquired 42,065 shares via a grant of restricted stock units at $0.00 per share. These units represent equity compensation rather than an open-market purchase, adding to his existing direct ownership in the company’s common stock.

How many Xcel Energy (XEL) shares does the CEO own after this Form 4?

After the reported grant, CEO Robert Frenzel directly owns 512,597.261 Xcel Energy common shares. This total includes the effect of the 42,065 restricted stock units that were awarded as equity compensation and reported in the latest insider transaction filing.

What are the vesting terms of the 42,065 restricted stock units at Xcel Energy?

The 42,065 restricted stock units granted to CEO Robert Frenzel vest on December 31, 2028 if he continues to be employed by Xcel Energy on that date. Upon vesting, each unit will be settled in one share of Xcel Energy common stock.

Did the Xcel Energy CEO pay cash for the 42,065 share acquisition?

No cash changed hands in this acquisition; the 42,065 shares were granted as restricted stock units at $0.00 per share. This reflects equity-based compensation rather than an open-market stock purchase by the Xcel Energy CEO.

Is the XEL Form 4 transaction a buy or an award of stock units?

The XEL Form 4 shows an award of restricted stock units, not an open-market buy. The transaction is coded as a grant or other acquisition, providing 42,065 stock-settled units that vest in 2028 subject to continued employment.