Cari Anne Renlund compensation by year
MGE ENERGY Summary Compensation Table · all 7 fiscal years held| Component | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2025 |
|---|---|---|---|---|---|---|---|
| Salary | $272,502 | $282,334 | $295,533 | $317,667 | $344,135 | $359,093 | $413,180 |
| Bonus | $137,257 | $142,142 | $143,442 | $157,469 | $165,993 | $175,874 | $0 |
| Stock awards | $96,282 | $96,270 | $100,163 | $135,170 | $170,354 | $173,362 | $273,183 |
| Option awards | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Non-equity incentive | $0 | $0 | $0 | $0 | $0 | $0 | $270,607 |
| Pension and deferred compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| All other | $33,592 | $34,894 | $36,196 | $37,557 | $43,437 | $352,631 | $102,953 |
| Total | $539,633 | $555,640 | $575,334 | $647,863 | $723,919 | $1,060,959 | $1,059,923 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: MGE ENERGY INC DEF 14A filed April 2, 2026, accession 0001161728-26-000005, and prior-year filings. Open the filing on EDGAR.
How this page was built: the MGE ENERGY INC filed document, accession 0001161728-26-000005. Every figure is read from that document and cited to the page and table it appears in. Filed April 2, 2026.
Equity holdings
unvested awards at FY2021 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| PSU | 1,731 | $150,424 | — |
| PSU | 1,325 | $115,099 | — |
| RSU | 1,154 | $100,283 | — |
| RSU | 883 | $76,733 | — |
| RSU | 562 | $50,580 | — |
| RSU | 311 | $27,972 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in MGE ENERGY INC's FY2021 proxy; value at the fiscal year-end close, as the company printed it.
Change-in-control & termination
estimated payments MGE ENERGY discloses, by trigger · FY2025| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Disability | — | $560,938 | — | $560,938 |
| Retirement | — | $560,938 | — | $560,938 |
| Change in control and involuntary termination | $1,371,932 | $560,938 | — | $2,150,104 |
| Death | — | $560,938 | — | $560,938 |
Per the Potential Payments Upon Termination or Change in Control table in MGE ENERGY INC's FY2025 proxy. Estimates as the company printed them; a dash means it printed no figure.
MGE ENERGY’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Jeffrey Keebler | Chairman of the Board, President, and Chief Executive Officer | $3,613,508 |
| Jared Bushek | Vice President – Chief Financial Officer and Treasurer | $1,464,884 |
| Cari Anne Renlund · this page | Vice President, General Counsel and Secretary | $1,059,923 |
| James Lorenz | Vice President – Energy Operations | $987,203 |
| Lynn Hobbie | Former Executive Vice President | $910,888 |
Board service
MGE ENERGY board · FY2021–FY2025How this board is paid
Company policy: MGE ENERGY pays directors a $85,000 cash retainer and $85,000 in equity. As stated in MGE ENERGY's FY2025 proxy.
The full MGE ENERGY compensation record
free company briefThis page is one person within MGE ENERGY's record. The company brief lists every named executive, each linking to their own page.
Peer companies
named in the MGE ENERGY proxy · each links to its own free briefCompensation, the day it’s disclosed
The CompBrief Daily Digest lists the newest executive and director compensation disclosures as companies file them. Or order MGE ENERGY's full Executive Compensation Report with peer benchmarking.
How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are MGE ENERGY's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
Order MGEE
Add the email the receipt and the PDF go to, then press the report you want. Each button opens its own card payment on Stripe.