Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-30

Xcel Energy Inc. (XEL)

CEO Bob Frenzel was paid $15,998,859 in fiscal year 2025, ↑ up 23.7% from fiscal year 2024, the 56th percentile of its disclosed peer group (SEC filing 0000072903-26-000063 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$15,998,859 ↑
Bob Frenzel total, FY2025
56th
CEO pay percentile vs peers
108:1
CEO-to-median pay ratio
90.48%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Bob Frenzel (Chairman, President and CEO), FY2025 total compensation $15,998,859 (base salary $1,450,000) [exec_comp, SEC accession 0000072903-26-000063, filed 2026-04-07]

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XEL's next annual pay disclosure, estimated April 6, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Bob Frenzel$1,450,000$0$11,244,160$0$3,022,554$200,268$81,877$15,998,859
Chairman, President and CEO
Brian Van Abel840,00002,402,22301,026,446172,42252,7194,493,810
EVP, Chief Financial Officer
Amanda Rome775,00001,942,1990947,02085,27249,4863,798,977
EVP, Group President, Utilities and Chief Customer Officer
Tim O'Connor513,33301,737,7810624,036260,36229,7533,165,265
Former EVP, Chief Operations Officer
Michael Lamb556,66701,154,3470508,718371,46346,4642,637,659
EVP, Chief Delivery Officer
Ryan Long556,45801,282,5550646,92050,26726,5332,562,733
EVP, Chief Legal and Compliance Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Bob Frenzel$15,998,859$12,932,063—↑ +3,066,796
Brian Van Abel4,493,8104,557,821—↓ −64,011
Amanda Rome3,798,9773,740,288—↑ +58,689
Tim O'Connor3,165,2653,457,942—↓ −292,677
Michael Lamb2,637,659———
Ryan Long2,562,733———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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$15,998,859 Bob Frenzel total, FY2025

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Data as of September 30, 2026 · Source: 0000072903-26-000063 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against XEL
24 companies name XEL as a compensation peer

Each company listed discloses XEL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named XEL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Bob FrenzelCEO$15,998,859
Amanda RomeEVP$3,798,977
Brian Van AbelCFO$4,493,810
Michael LambEVP$2,637,659
Ryan LongGeneral Counsel$2,562,733
Tim O'ConnorCOO$3,165,265
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Charles PardeeIndependent Director$356,000
Christopher PolicinskiFormer director (through FY2025)$69,725
Daniel YohannesFormer director (through FY2025)$48,420
Devin StockfishIndependent Director$342,634
George KehlIndependent Director$330,000
James ProkopankoIndependent Director$305,000
Kim WilliamsFormer director (through FY2025)$61,978
Lynn CaseyIndependent Director$327,352
Maria DemareeIndependent Director$77,497
Megan BurkhartIndependent Director$350,379
Netha JohnsonIndependent Director$295,000
Patricia KamplingLead Independent Director$338,354
Richard O'BrienIndependent Director$315,000
Tim WelshIndependent Director$324,648
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Maria Demaree HutchinsonDirector2026-05-21A2,253.94$0$0CommonForm 4 ↗
Tim WelshDirector2026-05-21A2,253.9400CommonForm 4 ↗
George KehlDirector2026-05-21A2,253.9400CommonForm 4 ↗
Charles PardeeDirector2026-05-21A2,253.9400CommonForm 4 ↗
Devin StockfishDirector2026-05-21A2,253.9400CommonForm 4 ↗
Netha JohnsonDirector2026-05-21A2,253.9400CommonForm 4 ↗
Lynn CaseyDirector2026-05-21A2,253.9400CommonForm 4 ↗
Megan BurkhartDirector2026-05-21A2,253.9400CommonForm 4 ↗
Patricia KamplingDirector2026-05-21A2,253.9400CommonForm 4 ↗
Lynn CaseyDirector2026-06-28A492.5200CommonForm 4 ↗
Charles PardeeDirector2026-06-28A541.0300CommonForm 4 ↗
Tim WelshDirector2026-06-28A468.0700CommonForm 4 ↗
Patricia KamplingDirector2026-06-28A607.7800CommonForm 4 ↗
Megan BurkhartDirector2026-06-28A583.7300CommonForm 4 ↗
Peter W. CarterDirector2026-07-29A1,818.7400CommonForm 4 ↗
Lynn CaseyDirector2026-09-28A580.2300CommonForm 4 ↗
Megan BurkhartDirector2026-09-28A687.6800CommonForm 4 ↗
Patricia KamplingDirector2026-09-28A773.6400CommonForm 4 ↗
Peter W. CarterDirector2026-09-28A403.6400CommonForm 4 ↗
Charles PardeeDirector2026-09-28A666.1900CommonForm 4 ↗
Tim WelshDirector2026-09-28A580.2300CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Amanda RomePSU2025-01-023,48119,892—39,784$1,372,150
Michael LambPSU2025-01-021,2837,329—14,658505,554
Amanda RomeRSU2025-01-02——8,526—570,049
Tim O'ConnorRSU2025-01-02——7,629—510,075
Bob FrenzelPSU2025-01-0220,154115,166—230,3327,944,151
Bob FrenzelRSU2025-01-02——49,357—3,300,009
Tim O'ConnorPSU2025-01-023,11517,798—35,5961,227,706
Ryan LongRSU2025-01-02——2,244—150,034
Ryan LongRSU2025-06-18——3,395—225,021
Michael LambRSU2025-01-02——3,141—210,007
Michael LambPSU2025-05-017744,425—8,850305,237
Ryan LongPSU2025-06-181,3867,921—15,842546,391
Michael LambRSU2025-05-01——1,897—133,549
Brian Van AbelRSU2025-01-02——10,545—705,039
Brian Van AbelPSU2025-01-024,30624,604—49,2081,697,184
Ryan LongPSU2025-01-029165,235—10,470361,110
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Amanda Rome$570,049$1,372,150$070.6%
Michael Lamb343,556810,791070.2%
Tim O'Connor510,0751,227,706070.6%
Bob Frenzel3,300,0097,944,151070.7%
Ryan Long375,055907,501070.8%
Brian Van Abel705,0391,697,184070.7%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Bob FrenzelPSU118,830—$8,776,807
Brian Van AbelPSU15,052—1,111,718
Michael LambRSU5,167—381,613
Bob FrenzelRSU163,113—12,047,507
Bob FrenzelPSU66,896—4,940,952
Bob FrenzelPSU50,172—3,705,675
Amanda RomeRSU22,160—1,636,766
Brian Van AbelRSU24,669—1,822,026
Michael LambRSU12,054—890,332
Michael LambRSU11,876—877,144
Michael LambPSU4,515—333,479
Ryan LongRSU4,182—308,898
Amanda RomeRSU20,525—1,515,970
Amanda RomePSU8,781—648,528
Michael LambRSU3,386—250,109
Michael LambPSU3,386—250,109
Amanda RomePSU11,707—864,678
Ryan LongRSU5,734—423,529
Ryan LongRSU13,378—988,107
Amanda RomeRSU8,797—649,767
Brian Van AbelPSU11,289—833,789
Brian Van AbelRSU25,387—1,875,072
Ryan LongPSU3,345—247,040
Michael LambPSU11,373—839,982
Bob FrenzelRSU50,173—3,705,753
Ryan LongPSU2,508—185,260
Michael LambRSU18,364—1,356,386
Michael LambPSU8,529—629,948
Michael LambRSU7,872—581,406
Bob FrenzelRSU50,927—3,761,500
Brian Van AbelRSU10,881—803,635
05

Incentive-plan design — the Compensation Discussion & Analysis

Our executive compensation programs are designed to align the interests of our executives with the interests of our shareholders, customers and employees. Our compensation philosophy is based on the following principles: Performance Based - Majority of executive compensation is at risk, and pay is aligned with Company performance; Market Competitive - Enables us to attract and retain talented leaders, Compares us to an industry peer group and also considers broad market trends; Equity-Based Incentive - Focuses on long-term value creation, Aligns executive interests with those of our stakeholders and rewards for strategic success.

CEO STI target (% of salary)145%
CEO LTI target (% of salary)—
Independent consultantMeridian
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-20463,774,47448,813,0452,233,71990.48%Passed
20252025-05-21421,060,43637,180,9042,046,03891.89%Passed
20242024-05-22327,887,68889,832,3812,038,82378.49%Passed
20232023-05-24406,591,30823,558,5772,605,11294.52%Passed
20222022-05-18393,233,16024,316,3372,336,13694.18%Passed
20212021-05-19393,533,26719,706,6702,821,62495.23%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-2090.48%a
20252025-05-2191.89%b
20242024-05-2278.49%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)108 : 1
CEO total compensation$15,998,859
Median employee compensation$147,664
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Charles PardeeIndependent · Finance · ONES (Chair)$155,000$201,000$0$0$0$356,000
Megan BurkhartIndependent · Audit · GCN (Chair)150,316200,063000350,379
Devin StockfishIndependent · Finance · GCN · Newly elected117,361225,273000342,634
Patricia KamplingIndependent · Lead Independent Director · Audit · GCN134,316204,038000338,354
George KehlIndependent · Audit (Chair) · Finance160,000170,000000330,000
Lynn CaseyIndependent · Audit · ONES144,626182,726000327,352
Tim WelshIndependent · Audit · GCN128,874195,774000324,648
Richard O'BrienIndependent · Finance (Chair) · GCN · Not standing for re-election145,000170,000000315,000
James ProkopankoIndependent · Audit · ONES · Not standing for re-election135,000170,000000305,000
Netha JohnsonIndependent · Finance · ONES125,000170,000000295,000
Maria DemareeIndependent · Audit · ONES · Partial-year service · Newly elected5,50371,99400077,497
Christopher PolicinskiIndependent · Departed during FY58,10411,62100069,725
Kim WilliamsIndependent · Departed during FY61,978—00061,978
Daniel YohannesIndependent · Departed during FY48,420—00048,420
Bob FrenzelEmployee director · Board Chair000—00
09

Board fee structure and ownership guideline

Annual cash retainer$135,000
Annual equity retainer$170,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 25,000
Stock ownership guideline7x annual cash retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,569,498
Equity awards (grant-date value)$1,972,489
All other compensation$0
Total cost of the board$3,541,987

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Xcel Energy Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Xcel Energy Inc..

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1AEP Company Inc.2025William Fehrman$1,505,769$29,339,782$0$4,290,000$36,601,524
2The Southern Company2025Christopher Womack1,560,57713,830,05403,665,02528,223,562
3NextEra Energy, Inc.2025John Ketchum1,606,15412,873,6463,100,0005,120,00024,192,607
4Sempra2025Jeffrey Martin1,700,0009,873,9164,580,017022,245,589
5Consolidated Edison Inc.2025Timothy Cawley1,445,8339,773,90002,809,00019,899,971
6Entergy Corporation2025Andrew Marsh1,286,3466,951,8931,647,4842,614,95016,752,589
7Edison International2025Pedro Pizarro1,417,0417,242,0932,414,0061,606,92616,544,559
8Dominion Energy Inc.2025Robert Blue1,287,5009,309,83004,421,31816,037,850
9Xcel Energy Inc.2025Bob Frenzel1,450,00011,244,16003,022,55415,998,859
10Exelon Corporation2025Calvin Butler1,379,00010,900,02402,665,71915,601,905
11Eversource Energy2025Joseph R. Nolan, Jr.1,432,3089,020,89003,000,00014,987,168
12Ameren Corporation2025Martin Lyons1,325,0008,205,55003,330,00014,056,510
13Public Service Enterprise Group Incorporated2025Ralph LaRossa1,386,0009,000,15302,563,40013,866,735
14Duke Energy Corporation2025Harry Sideris1,200,00010,068,66301,974,10213,652,630
15FirstEnergy Corp.2025Brian Tierney1,505,7699,406,19602,394,00013,452,559
16PPL Corporation2025Vincent Sorgi1,238,0607,865,24901,869,24813,221,331
17WEC Energy Group, Inc.2025Scott Lauber1,205,7005,405,848990,2353,535,78912,188,492
18CenterPoint Energy Inc.2025Jason Wells1,226,9237,625,02302,583,75012,092,341
19DTE Energy Company2025Joi Harris852,3083,098,52001,544,4376,732,386

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Xcel Energy Inc.143.76%PSU 70 · RSU 30NoMeridian
AEP Company Inc.174.9%PSU 75 · RSU 25Yes — Three-Year Total Shareholder Return of AEP vs. TSR Peer GroupMeridian
Ameren Corporation193.3%PSU 70 · RSU 30NoMeridian Compensation Partners
CenterPoint Energy Inc.159%PSU 70 · RSU 30Yes — Relative TSRMeridian Compensation Partners, LLC
Consolidated Edison Inc.143.5%PSU 70 · RSU 30NoMercer
Dominion Energy Inc.108%PSU 70 · MSU 30Yes — Relative TSR performancenot disclosed
DTE Energy Company169.87%PSU 70 · RSU 30NoMeridian Compensation Partners LLC
Duke Energy Corporation114.7%PSU 70 · RSU 30Yes — Relative TSRFW Cook
Edison Internationalnot disclosedPSU 50 · Option 25 · RSU 25Yes — TSRPay Governance
Entergy Corporation149%PSU 60 · Options 20 · RSU 20Yes — Relative TSRPay Governance, LLC
Eversource Energy145%PSU 75 · RSU 25NoPay Governance
Exelon Corporation133.62%PSU 67 · RSU 33Yes — 3-year TSRWillis Towers Watson
FirstEnergy Corp.106%PSU 60 · RSU 40Yes — Relative TSRFarient Advisors LLC
NextEra Energy, Inc.189%%Performance Shares 60 · Options 14 · Performance-Based Restricted Stock 3NoFrederic W. Cook & Co., Inc.
PPL Corporation116.14%PSU 80 · RSU 20Yes — Total Shareowner Return (TSR)FW Cook
Public Service Enterprise Group Incorporatednot disclosedPSU 70 · RSU 30Yes — Relative TSR versus peer panelCompensation Advisory Partners (CAP)
Sempra173%PRSU 66.67 · Option 33.33NoExequity
The Southern Company179%not disclosedYes — Relative TSRPay Governance
WEC Energy Group, Inc.not disclosedPSU 65 · RSU 20 · Option 15not disclosedFrederic W. Cook & Co., Inc.

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Xcel Energy Inc. in fiscal 2025?
As disclosed, Bob Frenzel (Chairman, President and CEO) was the highest-paid executive at Xcel Energy Inc. in fiscal 2025, with total compensation of $15,998,859.
How does Xcel Energy Inc.'s chief executive pay compare to its disclosed peer group?
As disclosed, Bob Frenzel's total compensation ranked at the 56th percentile of Xcel Energy Inc.'s disclosed peer group.
What is Xcel Energy Inc.'s CEO-to-median employee pay ratio?
As disclosed, Xcel Energy Inc.'s CEO-to-median employee pay ratio was 108:1.
How did shareholders vote on Xcel Energy Inc.'s executive compensation?
As disclosed, 90.48% of shareholders supported Xcel Energy Inc.'s executive compensation in the latest say-on-pay vote.
How much does Xcel Energy Inc. spend in total on board compensation for fiscal 2025?
As disclosed, Xcel Energy Inc. reported total board compensation of $3,541,987 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Bob FrenzelDEF 14A2026-04-070000072903-26-000063Section “Summary Compensation Table” · page 41. As printed: 15,998,859. Filing ↗machine: r2 · c24 · span 898797–898807
2Section 01, Brian Van AbelDEF 14A2026-04-070000072903-26-000063Section “Summary Compensation Table” · page 41. As printed: 4,493,810. Filing ↗machine: t162 · r5 · c14 · span 907856–907865
3Section 01, Amanda RomeDEF 14A2026-04-070000072903-26-000063Section “Summary Compensation Table” · page 41. As printed: 3,798,977. Filing ↗machine: r8 · c24 · span 916664–916673
4Section 01, Tim O'ConnorDEF 14A2026-04-070000072903-26-000063Section “Summary Compensation Table” · page 41. As printed: 3,165,265. Filing ↗machine: r13 · c24 · span 932876–932885
5Section 01, Michael LambDEF 14A2026-04-070000072903-26-000063Section “Summary Compensation Table” · page 41. As printed: 2,637,659. Filing ↗machine: r12 · c24 · span 929446–929455
6Section 01, Ryan LongDEF 14A2026-04-070000072903-26-000063Section “Summary Compensation Table” · page 41. As printed: 2,562,733. Filing ↗machine: r11 · c24 · span 925843–925852
7Section 03, Amanda Rome PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r9 · c8 · span 992948–992954
8Section 03, Michael Lamb PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r18 · c13 · span 1012094–1012101
9Section 03, Amanda Rome RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r10 · c10 · span 994940–994945
10Section 03, Tim O'Connor RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r24 · c10 · span 1024009–1024014
11Section 03, Bob Frenzel PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r3 · c8 · span 980794–980801
12Section 03, Bob Frenzel RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r4 · c10 · span 982788–982794
13Section 03, Tim O'Connor PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r23 · c8 · span 1022017–1022023
14Section 03, Ryan Long RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r13 · c13 · span 1001714–1001721
15Section 03, Ryan Long RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r15 · c13 · span 1006236–1006243
16Section 03, Michael Lamb RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r19 · c13 · span 1014090–1014097
17Section 03, Michael Lamb PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r20 · c15 · span 1016496–1016503
18Section 03, Ryan Long PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r14 · c15 · span 1004124–1004131
19Section 03, Michael Lamb RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r21 · c13 · span 1018607–1018614
20Section 03, Brian Van Abel RSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r7 · c10 · span 988871–988877
21Section 03, Brian Van Abel PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r6 · c8 · span 986879–986885
22Section 03, Ryan Long PSUDEF 14A2026-04-070000072903-26-000063Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t167 · r12 · c13 · span 999718–999725
23Section 07, pay ratioDEF 14A2026-04-070000072903-26-000063Section “CEO Pay Ratio”. As printed: 108 : 1. Filing ↗machine: span 1332286–1332291
24Section 08, Charles PardeeDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 356,000. Filing ↗machine: t197 · r9 · c5 · span 1445433–1445681
25Section 08, Megan BurkhartDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 350,379. Filing ↗machine: t197 · r2 · c5 · span 1436054–1436302
26Section 08, Devin StockfishDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 342,634. Filing ↗machine: t197 · r12 · c5 · span 1449510–1449758
27Section 08, Patricia KamplingDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 338,354. Filing ↗machine: t197 · r6 · c5 · span 1441567–1441815
28Section 08, George KehlDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 330,000. Filing ↗machine: t197 · r7 · c4 · span 1442773–1443021
29Section 08, Lynn CaseyDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 327,352. Filing ↗machine: t197 · r3 · c5 · span 1437374–1437622
30Section 08, Tim WelshDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 324,648. Filing ↗machine: t197 · r13 · c5 · span 1450829–1451077
31Section 08, Richard O'BrienDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 315,000. Filing ↗machine: t197 · r8 · c5 · span 1444098–1444346
32Section 08, James ProkopankoDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 305,000. Filing ↗machine: t197 · r11 · c4 · span 1447972–1448220
33Section 08, Netha JohnsonDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 295,000. Filing ↗machine: t197 · r5 · c5 · span 1440229–1440477
34Section 08, Maria DemareeDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 77,497. Filing ↗machine: t197 · r4 · c5 · span 1438907–1439154
35Section 08, Christopher PolicinskiDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 69,725. Filing ↗machine: t197 · r10 · c5 · span 1446763–1447010
36Section 08, Kim WilliamsDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 61,978. Filing ↗machine: t197 · r14 · c1 · span 1451553–1451686
37Section 08, Daniel YohannesDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 48,420. Filing ↗machine: t197 · r15 · c1 · span 1452940–1453073
38Section 08, Bob FrenzelDEF 14A2026-04-070000072903-26-000063Section “Director Compensation”. As printed: 0. Filing ↗
39Section 02, Maria Demaree Hutchinson 2026-05-21Form 42026-05-220000072903-26-000091Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Tim Welsh 2026-05-21Form 42026-05-220000072903-26-000095Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, George Kehl 2026-05-21Form 42026-05-220000072903-26-000087Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Charles Pardee 2026-05-21Form 42026-05-220000072903-26-000089Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Devin Stockfish 2026-05-21Form 42026-05-220000072903-26-000090Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Netha Johnson 2026-05-21Form 42026-05-220000072903-26-000092Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Lynn Casey 2026-05-21Form 42026-05-220000072903-26-000093Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Megan Burkhart 2026-05-21Form 42026-05-220000072903-26-000088Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Patricia Kampling 2026-05-21Form 42026-05-220000072903-26-000094Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Lynn Casey 2026-06-28Form 42026-06-300000072903-26-000139Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Charles Pardee 2026-06-28Form 42026-06-300000072903-26-000137Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Tim Welsh 2026-06-28Form 42026-06-300000072903-26-000138Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Patricia Kampling 2026-06-28Form 42026-06-300000072903-26-000140Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Megan Burkhart 2026-06-28Form 42026-06-300000072903-26-000136Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Peter W. Carter 2026-07-29Form 42026-07-310000072903-26-000158Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Lynn Casey 2026-09-28Form 42026-09-300000072903-26-000167Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Megan Burkhart 2026-09-28Form 42026-09-300000072903-26-000171Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Patricia Kampling 2026-09-28Form 42026-09-300000072903-26-000170Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Peter W. Carter 2026-09-28Form 42026-09-300000072903-26-000172Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Charles Pardee 2026-09-28Form 42026-09-300000072903-26-000169Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Tim Welsh 2026-09-28Form 42026-09-300000072903-26-000168Insider equity transaction reported since the proxy statement. Filing ↗
60Section 06, 2026 voteForm 8-K2026-05-220000072903-26-000097Item 5.07 · say-on-pay result. As reported: 90.48% (votes for as printed: 463,774,474). Filing ↗
61Section 06, 2025 voteForm 8-K2025-05-230000072903-25-000108Item 5.07 · say-on-pay result. As reported: 91.89% (votes for as printed: 421,060,436). Filing ↗
62Section 06, 2024 voteForm 8-K2024-05-230000072903-24-000111Item 5.07 · say-on-pay result. As reported: 78.49% (votes for as printed: 327,887,688). Filing ↗
63Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
64Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
65Section 09b board cost (computed)Computed——Cash 1,569,498 + equity 1,972,489 + all other 0 = 3,541,987, summed across the director compensation table rows.machine: formula: Σ = 3,541,987
66AEP Company Inc., Section 10b CEO totalDEF 14A2026-03-180000004904-26-000022CEO total compensation as printed in AEP Company Inc.'s own proxy. As printed: 36,601,524. Filing ↗machine: t38 · r3 · c22 · span 948915–948925
67The Southern Company, Section 10b CEO totalDEF 14A2026-04-030000092122-26-000028CEO total compensation as printed in The Southern Company's own proxy. As printed: 28,223,562. Filing ↗machine: r2 · c21 · span 1349281–1349291
68NextEra Energy, Inc., Section 10b CEO totalDEF 14A2026-04-010001104659-26-038551CEO total compensation as printed in NextEra Energy, Inc.'s own proxy. As printed: 24,192,607. Filing ↗machine: r2 · c54 · span 1822461–1822471
69Sempra, Section 10b CEO totalDEF 14A2026-03-270001193125-26-127603CEO total compensation as printed in Sempra's own proxy. As printed: 22,245,589. Filing ↗machine: r6 · c44 · span 1518546–1518556
70Consolidated Edison Inc., Section 10b CEO totalDEF 14A2026-04-080001047862-26-000078CEO total compensation as printed in Consolidated Edison Inc.'s own proxy. As printed: 19,899,971. Filing ↗machine: r4 · c24 · span 1434489–1434499
71Entergy Corporation, Section 10b CEO totalDEF 14A2026-03-270000065984-26-000211CEO total compensation as printed in Entergy Corporation's own proxy. As printed: 16,752,589. Filing ↗machine: r3 · c27 · span 1089446–1089457
72Edison International, Section 10b CEO totalDEF 14A2026-03-130001104659-26-027655CEO total compensation as printed in Edison International's own proxy. As printed: 16,544,559. Filing ↗machine: t310 · r10 · c18 · span 2410710–2410720
73Dominion Energy Inc., Section 10b CEO totalDEF 14A2026-03-190001193125-26-115180CEO total compensation as printed in Dominion Energy Inc.'s own proxy. As printed: 16,037,850. Filing ↗machine: r4 · c20 · span 2345967–2345977
74Xcel Energy Inc. (subject), Section 10b CEO totalDEF 14A2026-04-070000072903-26-000063CEO total compensation as printed in Xcel Energy Inc.'s own proxy. As printed: 15,998,859. Filing ↗machine: r2 · c24 · span 898797–898807
75Exelon Corporation, Section 10b CEO totalDEF 14A2026-03-180001109357-26-000040CEO total compensation as printed in Exelon Corporation's own proxy. As printed: 15,601,905. Filing ↗machine: t122 · r2 · c8 · span 1118853–1118863
76Eversource Energy, Section 10b CEO totalDEF 14A2026-03-270001104659-26-036077CEO total compensation as printed in Eversource Energy's own proxy. As printed: 14,987,168. Filing ↗machine: t46 · r1 · c41 · span 1205602–1205612
77Ameren Corporation, Section 10b CEO totalDEF 14A2026-03-310001104659-26-037756CEO total compensation as printed in Ameren Corporation's own proxy. As printed: 14,056,510. Filing ↗machine: r1 · c47 · span 1200840–1200850
78Public Service Enterprise Group Incorporated, Section 10b CEO totalDEF 14A2026-03-120001193125-26-104270CEO total compensation as printed in Public Service Enterprise Group Incorporated's own proxy. As printed: 13,866,735. Filing ↗machine: t131 · r4 · c19 · span 2441876–2441886
79Duke Energy Corporation, Section 10b CEO totalDEF 14A2026-03-200001104659-26-032443CEO total compensation as printed in Duke Energy Corporation's own proxy. As printed: 13,652,630. Filing ↗machine: r1 · c50 · span 1542349–1542359
80FirstEnergy Corp., Section 10b CEO totalDEF 14A2026-04-010001193125-26-138029CEO total compensation as printed in FirstEnergy Corp.'s own proxy. As printed: 13,452,559. Filing ↗machine: span 2403220–2403230
81PPL Corporation, Section 10b CEO totalDEF 14A2026-04-010001193125-26-135991CEO total compensation as printed in PPL Corporation's own proxy. As printed: 13,221,331. Filing ↗machine: t139 · r2 · c21 · span 1822151–1822161
82WEC Energy Group, Inc., Section 10b CEO totalDEF 14A2026-03-260000783325-26-000035CEO total compensation as printed in WEC Energy Group, Inc.'s own proxy. As printed: 12,188,492. Filing ↗machine: r4 · c27 · span 797676–797686
83CenterPoint Energy Inc., Section 10b CEO totalDEF 14A2026-03-040001104659-26-023457CEO total compensation as printed in CenterPoint Energy Inc.'s own proxy. As printed: 12,092,341. Filing ↗machine: r1 · c54 · span 1435451–1435461
84DTE Energy Company, Section 10b CEO totalDEF 14A2026-03-120000936340-26-000062CEO total compensation as printed in DTE Energy Company's own proxy. As printed: 6,732,386. Filing ↗machine: t121 · r3 · c12 · span 1045987–1045996
85Section 10a, Edison International reciprocityDEF 14A—0001104659-26-027655Edison International names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
86Section 10a, Entergy Corporation reciprocityDEF 14A—0000065984-26-000211Entergy Corporation names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
87Section 10a, NextEra Energy, Inc. reciprocityDEF 14A—0001104659-26-038551NextEra Energy, Inc. names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
88Section 10a, Sempra reciprocityDEF 14A—0001193125-26-127603Sempra's most recent proxy was read; its disclosed peer group does not include Xcel Energy Inc.. Filing ↗
89Section 10a, WEC Energy Group, Inc. reciprocityDEF 14A—0000783325-26-000035WEC Energy Group, Inc. names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
90Section 10a, CenterPoint Energy Inc. reciprocityDEF 14A—0001104659-26-023457CenterPoint Energy Inc. names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
91Section 10a, Duke Energy Corporation reciprocityDEF 14A—0001104659-26-032443Duke Energy Corporation names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
92Section 10a, AEP Company Inc. reciprocityDEF 14A—0000004904-26-000022AEP Company Inc. names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
93Section 10a, Consolidated Edison Inc. reciprocityDEF 14A—0001047862-26-000078Consolidated Edison Inc. names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
94Section 10a, Dominion Energy Inc. reciprocityDEF 14A—0001193125-26-115180Dominion Energy Inc. names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
95Section 10a, DTE Energy Company reciprocityDEF 14A—0000936340-26-000062DTE Energy Company names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
96Section 10a, Eversource Energy reciprocityDEF 14A—0001104659-26-036077Eversource Energy names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
97Section 10a, Exelon Corporation reciprocityDEF 14A—0001109357-26-000040Exelon Corporation names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
98Section 10a, The Southern Company reciprocityDEF 14A—0000092122-26-000028The Southern Company names Xcel Energy Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗

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