MGE Energy Inc. filings document the regulatory reporting of a Wisconsin public utility holding company and its principal utility subsidiary, Madison Gas and Electric. The record includes Form 8-K reports for earnings releases, Regulation FD financial presentations, material agreements, capital-market transactions, and officer and compensation matters.
Company filings also cover common-stock offering arrangements, forward sale agreements, at-the-market equity distribution programs, proxy governance, board matters, executive compensation, shareholder voting materials, and disclosure for electric and gas utility operations in Wisconsin.
MGE Energy, Inc. and its subsidiary Madison Gas and Electric Company furnished a current report describing a new investor presentation. On May 8, 2026, MGE Energy posted updated financial presentation slides on its Investor Relations website, also attaching them as Exhibit 99.1. Company representatives plan to use these slides in upcoming investor meetings at the 2026 AGA Financial Forum in Scottsdale, Arizona on May 17-18, 2026. The materials are furnished under Regulation FD, meaning they are provided for information purposes but are not deemed filed with the SEC.
MGE Energy, Inc. entered into an underwriting and forward sale structure for an underwritten public offering of 3,300,331 shares of common stock. Of these, 990,099 shares are newly issued by the company and 2,310,232 shares are borrowed and sold through forward sellers under Forward Sale Agreements.
The company will receive net proceeds from the newly issued shares and expects to use them for general corporate purposes, including debt repayment, capital expenditures and subsidiary investments. It will not initially receive proceeds from the 2,310,232 forward-sold shares, but can receive additional cash upon settling the Forward Sale Agreements at an initial forward sale price of $72.9094 per share, adjustable over time.
The Forward Sale Agreements may be settled at the company’s discretion in cash, net shares or physical delivery of stock by no later than January 8, 2028. The company explains that earnings per share will only be diluted when its average market price exceeds the adjusted forward sale price and upon physical or net share settlement of the forward contracts.
MGE Energy, Inc. is registering 3,300,331 shares of common stock and offering 990,099 shares directly, with an aggregate of 2,310,232 additional shares to be delivered by forward sellers under forward sale agreements. At an initial public offering price of $75.75 per share, the underwriters will pay $72.9094 per share to the issuer for shares sold directly by MGE, and the filing describes forward sale mechanics that may result in physical settlement, cash settlement, or net share settlement no later than approximately 20 months after the prospectus supplement date. The company expects initial net proceeds to be approximately $72.2 million before expenses and, assuming full physical settlement of the forward sales at the initial forward sale price, aggregate net proceeds to the company of approximately $168.4 million. The prospectus supplement details dilution, underwriting arrangements, FINRA Rule 5121 conflict-of-interest compliance, and forward purchaser acceleration and settlement rights.
MGE Energy, Inc. is offering common stock in a mixed transaction totaling $250,000,000, consisting of $75,000,000 of shares offered and sold by the company and $175,000,000 of shares to be sold by forward sellers under forward sale agreements.
The prospectus supplement describes forward sale agreements with Morgan Stanley, BofA and J.P. Morgan that contemplate physical settlement within approximately 20 months, with alternative cash or net share settlement mechanics and price adjustments tied to a floating interest factor and expected dividends. The filing shows 36,756,422 shares issued and outstanding as of May 5, 2026 and uses proceeds for general corporate purposes.
MGE Energy, Inc. is offering common stock in a mixed transaction totaling $250,000,000, consisting of $75,000,000 of shares offered and sold by the company and $175,000,000 of shares to be sold by forward sellers under forward sale agreements.
The prospectus supplement describes forward sale agreements with Morgan Stanley, BofA and J.P. Morgan that contemplate physical settlement within approximately 20 months, with alternative cash or net share settlement mechanics and price adjustments tied to a floating interest factor and expected dividends. The filing shows 36,756,422 shares issued and outstanding as of May 5, 2026 and uses proceeds for general corporate purposes.
MGE Energy, Inc. reported stronger results for the first quarter of 2026. GAAP net income rose to $48.5 million, or $1.32 per share, up from $41.6 million, or $1.14 per share, a year earlier. Operating revenues increased to $242.7 million from $219.0 million.
Electric segment earnings increased by $5.5 million, driven by strategic capital investments that expanded the rate base, largely from deploying key renewable energy projects. The gas segment delivered stable net income with minimal variation from the prior-year quarter.
MGE Energy reported stronger Q1 2026 results, with net income of $48.5 million or $1.32 per share, up from $41.6 million or $1.14 a year earlier. Total operating revenue rose to $242.7 million from $219.0 million, driven by higher electric and gas revenues and new rates effective in 2026.
The effective tax rate declined to 10.8%, helped by federal production and investment tax credits tied to renewable and storage projects and higher non‑taxable AFUDC equity income. Capital expenditures more than doubled to $101.1 million, reflecting heavy investment in solar, wind, battery and storage projects.
Cash flow from operations was $80.7 million, funding part of this buildout alongside a new $90 million long‑term debt issue and an at‑the‑market equity program that sold 154,321 shares for net proceeds of $11.5 million. The company also deferred $4.4 million of 2026 fuel savings under Wisconsin fuel rules, which will be reviewed by regulators and returned through future rates.
MGE Energy Inc ownership disclosure: Vanguard Capital Management reports beneficial ownership of 1,936,460 shares of MGE Energy common stock, representing 5.29% of the class. The filing lists 295,434 shares as sole voting power and shows sole dispositive power over 1,936,460 shares. The filing is signed on 04/30/2026.
Vanguard Portfolio Management reports beneficial ownership of 2,686,624 shares (7.34%) of MGE Energy Inc common stock as of 03/31/2026. The filing shows sole dispositive power over 2,686,624 shares and sole voting power over 23,523 shares. The disclosure states these holdings include shares held for Vanguard funds and managed accounts over which Vanguard Portfolio Management LLC or its affiliates exercise dispositive power. The schedule is signed by Ashley Grim, Head of Global Fund Administration, on 04/29/2026.
MGE Energy reported that its Vice President, Chief Financial Officer and Treasurer, Jared Joseph Bushek, received a grant of 25,000 shares of Common Stock in the form of restricted stock units. The grant was awarded at $0.00 per share as a compensation-related award, not an open‑market purchase.
The restricted stock units convert into common stock on a one-to-one basis when they vest on April 17, 2031. After this award, Bushek directly holds a total of 35,795.6544 shares of Common Stock, including adjustments for accrued dividends through dividend reinvestment.
MGE Energy, Inc. and Madison Gas and Electric Company reported a leadership and compensation change. On April 17, 2026, their boards promoted Jared Bushek from Vice President – Chief Financial Officer and Treasurer to Executive Vice President – Chief Financial Officer and Treasurer, effective May 1, 2026.
In connection with this promotion, Bushek received a one-time retention grant of 25,000 restricted stock units of MGE Energy common stock under the 2021 Long-Term Incentive Plan. The award cliff vests on the fifth anniversary of the grant date, with certain accelerated vesting protections on death, disability, or qualifying termination after a change in control.