[Form 4] XCEL ENERGY INC Insider Trading Activity

Rhea-AI Filing Summary

XCEL ENERGY INC executive Scott Sharp reported equity compensation activity, not open‑market trading. On February 24, 2026, he acquired 4,081 shares of common stock through a grant or award and 1,065.507 shares through the settlement of performance share unit and restricted stock unit awards, which convert to common stock on a one-for-one basis.

To cover tax obligations on these settlements, 1,619.507 shares of common stock were withheld at a price of $83.35 per share. After these transactions, Sharp directly held 26,156.073 shares of common stock and indirectly held 97.236 shares in the Xcel Energy Stock Fund under the company’s 401(k) Savings Plan as of a plan statement dated February 20, 2026.

Insider Trade Summary

1,065.507 shares exercised/converted

Mixed 5 txns

Insider Sharp Scott

Role EVP, Chief Generation Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,065.507	$0.00	--
Grant/Award	Common Stock	4,081	$0.00	--
Exercise	Common Stock	1,065.507	$0.00	--
Tax Withholding	Common Stock	1,619.507	$83.35	$135K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 26,710.073 shares (Direct); Common Stock — 97.236 shares (Indirect, 401(k))

Footnotes (1)

1. Represents the settlement of performance share unit awards for the 2023-2025 performance period. Restricted stock units are settled in common stock on a one-for-one basis. 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. 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. Number of units shown reflects 95.507 additional units as a result of the reinvestment of dividend equivalents since the original grant. Award vested on December 31, 2025 but was settled in shares of common stock on February 24, 2026.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

Sharp Scott

(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 Generation 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		4,081(1)	A	$0	26,710.073	D
Common Stock	02/24/2026		M		1,065.507	A	(2)	27,775.58	D
Common Stock	02/24/2026		F		1,619.507(3)	D	$83.35	26,156.073	D
Common Stock								97.236(4)	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	(2)	02/24/2026		M			1,065.507(5)	(6)	(6)	Common Stock	1,065.507	$0	0	D

Explanation of Responses:

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

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

3. 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.

4. 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.

5. Number of units shown reflects 95.507 additional units as a result of the reinvestment of dividend equivalents since the original grant.

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 Scott Sharp	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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