Xcel Energy director receives stock retainer grant

Xcel Energy Inc. director Charles G. Pardee reported an equity-based retainer grant.

Rhea-AI Filing Summary

Xcel Energy Inc. director Charles G. Pardee reported an equity-based retainer grant. He acquired 541.031 stock equivalent units of common stock on June 28, 2026, a non-cash award recorded at a zero transaction price per unit in the filing.

According to the footnotes, 450.859 of these units were granted at $82.23 per unit in lieu of his quarterly cash retainer, while 90.172 units were granted at no cost as a 20% premium on that retainer amount. These stock equivalent units are payable in whole shares of common stock after his service as director ends, with any fractional units settled in cash. Following this award, Pardee directly holds 33,852.150 shares or equivalent units of Xcel Energy common stock.

Insider Trade Summary

Grant/Award: 541.031 shares

Grant/Award 1 txn

Insider Pardee Charles G

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	541.031	$0.00	$0.00

Holdings After Transaction: Common Stock — 33,852.15 shares (Direct)

Footnotes (2)

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 541.031 stock equivalent units, 450.859 were granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer, and 90.172 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Key Figures

Stock equivalent units granted: 541.031 units Units in lieu of cash retainer: 450.859 units Premium units granted: 90.172 units +2 more

5 metrics

Stock equivalent units granted 541.031 units Director retainer grant on June 28, 2026

Units in lieu of cash retainer 450.859 units Granted at $82.23 per unit

Premium units granted 90.172 units 20% premium on quarterly retainer

Grant valuation price $82.23 per unit Applied to 450.859 units in lieu of cash

Holdings after transaction 33,852.150 shares Director’s direct holdings following award

Key Terms

stock equivalent units, quarterly cash retainer, 20% premium, fractional units

4 terms

stock equivalent units financial

"Retainer granted in the form of stock equivalent units payable in whole shares of common stock"

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.

quarterly cash retainer financial

"granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer"

20% premium financial

"granted at no cost to the reporting person as a 20% premium on the amount of such retainer"

fractional units financial

"fractional units are payable at such time in cash"

FAQ

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

What did Xcel Energy (XEL) director Charles G. Pardee report on this Form 4?

Director Charles G. Pardee reported receiving 541.031 stock equivalent units as part of his board compensation. These units represent non-cash equity awarded in place of cash fees and are payable in Xcel Energy common shares after his board service ends.

How was the XEL director’s quarterly retainer structured in this Form 4 filing?

Most of Charles G. Pardee’s quarterly retainer was converted into 450.859 stock equivalent units at $82.23 per unit. Instead of cash, he receives these equity units, aligning his compensation more closely with Xcel Energy’s share performance over time.

What is the 20% premium mentioned in the Xcel Energy (XEL) Form 4 footnotes?

In addition to units received in lieu of cash, Pardee was granted 90.172 stock equivalent units at no cost as a 20% premium. This premium effectively boosts his equity compensation relative to the base quarterly retainer amount described in the filing.

When will the XEL stock equivalent units reported by the director be paid out?

The stock equivalent units will be paid in whole shares of Xcel Energy common stock after Charles G. Pardee’s service as a director ends. Any fractional units outstanding at that time will be settled in cash rather than additional partial shares.

How many Xcel Energy (XEL) shares does the director hold after this reported transaction?

After this grant of 541.031 stock equivalent units, Charles G. Pardee is shown as directly holding 33,852.150 shares or equivalent units. This figure reflects his updated direct ownership position immediately following the reported compensation transaction.

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

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Accepted by SEC EDGAR 06/30/2026 - 04:12 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^*

Pardee Charles G

(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)
06/28/2026

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	06/28/2026		A		541.031(1)	A	$0(2)	33,852.15	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 541.031 stock equivalent units, 450.859 were granted at a price of $82.23 per unit in lieu of the reporting person's quarterly cash retainer, and 90.172 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer.

Remarks:

	Kristin L. Westlund, Attorney in Fact for Charles G. Pardee	06/30/2026
	** 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)