XCEL ENERGY INC — Director's Dealing 2011

Nov 10, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCEL ENERGY INC (XEL)
CIK: 0000072903
Period of Report: 2011-11-08

Reporting Person: Connelly Michael C (VP & General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-08	Common Stock	M	16000	$25.90	Acquired	104545.054	Direct
2011-11-08	Common Stock	S	16000	$26.2306	Disposed	88545.054	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-08	Employee Stock Option (Right to Buy)	$25.90	M	16000	Acquired	2011-12-12	Common Stock (16000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6224.543	Indirect

Footnotes

F1: Price is the volume weighted average selling price of all purchases by the reporting person on the transaction date. Actual prices ranged from 26.23 to 26.24. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F2: Includes 2,719.595 shares of stock acquired pursuant to reinvestment of dividends.

F3: Between March 2, 2011 and November 8, 2011, the reporting person acquired approximately 186.933 shares of Xcel Energy common stock under the Xcel Energy 401(k) Savings Plan. The information in this report is based on a plan statement dated as of November 8, 2011.

F4: The option vested in three equal installments on December 12, 2002, 2003, 2004.