Jared J. Bushek - Mar 1, 2023 Form 4 Insider Report for MGE ENERGY INC (MGEE)

Role: VP Chief Fin. Off. & Treasurer
Signature: /s/ Jared J. Bushek
Stock symbol: MGEE
Transactions as of: Mar 1, 2023
Transactions value $: $157,398
Form type: 4
Date filed: 3/3/2023, 11:50 AM
Previous filing: Oct 11, 2022
Next filing: Mar 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MGEE	MGEE Common Stock	Award	$0	+1.15K	+52.05%	$0.00	3.36K	Mar 1, 2023	Direct	F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	MGEE	Phantom Stock Units	Award	$157K	+2.23K		$70.48	2.23K	Mar 2, 2023	Common Stock	2.23K		Direct	F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents restricted stock units (RSUs) which are converted to common stock on a one-to-one basis when vested. The RSUs vest on December 31, 2025.
F2	Includes adjustments for accrued dividends pursuant to a dividend reinvestment transaction exempt from Section 16 under Rule 16a-11.
F3	Each phantom stock unit has an equivalent value to one share of MGEE Common Stock and entitles the holder to the cash value thereof.
F4	Phantom stock units were accrued under MGE's 2023 Deferred Compensation Supplemental Executive Retirement Plan (DC SERP) and are to be settled in accordance with the terms of the Plan.