XCEL ENERGY INC — Director's Dealing 2023

Feb 23, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: XCEL ENERGY INC (XEL)
CIK: 0000072903
Period of Report: 2023-02-21

Reporting Person: O'Connor Timothy John (EVP, Chief Operations Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-21	Common Stock	A	246.856	—	Acquired	15426.856	Direct
2023-02-21	Common Stock	M	3821.699	—	Acquired	19248.555	Direct
2023-02-21	Common Stock	F	2068.555	$68.01	Disposed	17180	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-21	Restricted Stock Units	$	M	3821.699	Disposed		Common Stock (3821.699)	Direct
2023-02-21	Phantom Stock	$0	A	10256	Acquired		Common Stock (10256)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	371.633	Indirect

Footnotes

F1: Represents the settlement of performance share unit awards for the 2020-2022 performance period.

F2: Restricted stock units are settled in common stock on a one-for-one basis.

F3: Represents the withholding of shares to satisfy tax obligations upon the settlement of the 2020-2022 performance share unit awards and restricted stock unit awards. Fractional share interests were settled in cash.

F4: Shares held in the Xcel Energy Stock Fund under the Xcel Energy 401(k) Savings Plan as of plan statement dated February 17, 2023.

F5: Number of units shown reflects the reinvestment of dividend equivalents since the original grants of (a) 3,143 units granted on January 2, 2020 and (b) 384 units granted on March 31, 2020.

F6: Award vested on December 31, 2022 but was settled in shares of common stock on February 21, 2023.

F7: Each share of phantom stock represents the right to receive the cash value of one share of common stock.

F8: Shares of phantom stock become payable in accordance with the reporting person's distribution elections made pursuant to the Xcel Energy Deferred Compensation Plan (the "Plan"). Subject to certain timing restrictions and other limitations based on the source of the amount deferred, the reporting person may generally transfer some or all of the balance in the Plan's Company stock account into an alternative Plan investment account.

F9: The number of shares of phantom stock reflects both additional shares credited upon the deemed reinvestment of dividend equivalents as reported in the most recent report from the Plan administrator, as well as minor adjustments to the number of phantom shares credited to the reporting person's Company stock account due to the unitized nature of the Plan's Company stock fund.