[Form 4] WEC ENERGY GROUP, INC. Insider Trading Activity

Rhea-AI Filing Summary

WEC Energy Group director Cristina A. Garcia-Thomas reported acquisition of phantom stock units totaling 195.2786 shares on 10/07/2025. The units were received via deferral of director fees under the Director's Deferred Compensation Plan and are one-for-one payable in common stock when settled. The filing shows an aggregate holding of 8,389.6422 phantom stock units after the transaction, with a per-share reference price of $115.22 noted. Several units reflect accruals from a dividend reinvestment feature; the acquisition is described as exempt from certain Section 16(b) rules under Rule 16b-3(d) and Rule 16a-11. The Form 4 was signed by an attorney-in-fact on 10/09/2025.

Positive

• Director compensation is aligned with shareholder outcomes via 195.2786 phantom units
• Transaction uses deferred fees, preserving company cash while granting equity-linked value

Negative

• Potential future dilution if phantom units settle in common stock
• Settlement timing unclear; no explicit distribution/vesting date disclosed in the filing

Insights

Corporate Governance Analyst

Director deferred fees converted into 195.2786 phantom units, increasing long-term compensation alignment.

Phantom stock units acquired via fee deferral tie the director’s economic interest to common stock performance without immediate share issuance. The filing notes these units are accrued under the Director's Deferred Compensation Plan and include reinvested dividends, raising total phantom holdings to 8,389.6422.

The structure is exempt under Rule 16b-3(d) and Rule 16a-11, reducing short-swing liability and indicating routine compensation processing; monitor settlement timing and plan terms for when units convert to actual shares, typically driven by plan vesting or distribution events within the plan's schedule.

Equity Compensation Specialist

Transaction reflects non-cash compensation at an indicated reference price of $115.22.

Phantom units carry economic value tied to underlying common stock and are reported as acquisitions with an attributable per-share price. Because these are deferred director fees, they are non-derivative accruals intended to be settled in common stock in future, preserving cash while aligning incentives.

Key items to watch are plan settlement mechanics and the eventual conversion ratio and timing that will determine dilution and actual share issuance; any future settlement dates or distributions will materially affect outstanding shares if shares are issued upon settlement.

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^*

Garcia-Thomas Cristina A

(Last) (First) (Middle)

231 WEST MICHIGAN STREET

(Street)

MILWAUKEE WI 53203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WEC ENERGY GROUP, INC. [ WEC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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

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
Phantom Stock Units	(1)	10/07/2025		A		195.2786(2)		(3)	(3)	Common Stock	195.2786	$115.22	8,389.6422(4)	D

Explanation of Responses:

1. One-for-one.

2. These phantom stock units were acquired pursuant to a deferral of director fees in an acquisition exempt from Section 16(b) pursuant to Rule 16b-3(d).

3. These phantom stock units were accrued under the WEC Energy Group, Inc. Director's Deferred Compensation Plan (DDCP) and are to be settled in accordance with the terms of the plan.

4. Includes phantom stock units accrued pursuant to a dividend reinvestment feature of the DDCP in transactions exempt from Section 16 pursuant to Rule 16a-11.

Remarks:

	Joshua M. Erickson, as attorney in fact	10/09/2025
	** 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 did Cristina A. Garcia-Thomas report on Form 4 for WEC (WEC)?

The director reported acquiring 195.2786 phantom stock units on 10/07/2025, increasing total phantom holdings to 8,389.6422 units.

How were the phantom stock units acquired by the WEC director?

They were acquired via a deferral of director fees under the Director's Deferred Compensation Plan and include amounts from a dividend reinvestment feature.

Will the phantom units immediately convert to WEC common shares?

No specific settlement/vesting dates are disclosed in the Form 4; the units are accrued in the DDCP and "are to be settled in accordance with the terms of the plan."

Does this Form 4 transaction create short-swing liability concerns?

The filing states the acquisition was exempt from Section 16(b) under Rule 16b-3(d), indicating it was structured to avoid short-swing trading liability.

What reference price is listed for the reported phantom units?

The filing notes a price of $115.22 per share as the reference amount associated with the phantom units.