Douglas C. Neve - 15 Dec 2025 Form 4 Insider Report for ALLETE INC (ALE)

Reporting relationship: Director
Issuer ticker: ALE
Reported as of: 15 Dec 2025
Net transaction value: -$2,089,716
SEC form: 4
Accepted by SEC: 16 Dec 2025, 21:39:33 UTC
Prior SEC filing: 02 Jun 2025
Source filing: View source filing
Reporting owner signature: Julie L. Padilla for Douglas C. Neve

Key filing fact

Douglas C. Neve filed Form 4 for ALLETE INC (ALE) on 16 Dec 2025.

Key facts

This page summarizes Douglas C. Neve's Form 4 filing for ALLETE INC (ALE).
2 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 16 Dec 2025, 21:39.

Change

Previous filing in this sequence was filed on 02 Jun 2025.
Current net transaction value: -$2,089,716.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001316155 Primary reporting owner

Neve Douglas C

Relationship: Director
Address: 30 WEST SUPERIOR STREET, DULUTH
Signature: Julie L. Padilla for Douglas C. Neve
Signature date: 16 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ALE transaction

Common Stock

Disposed to Issuer

Transaction value: $1,313,022
Shares: -19,597
Change %: -100%
Price: $67.00
Shares after: 0
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F1, F2, F3

ALE transaction

Common Stock

Disposed to Issuer

Transaction value: $776,694
Shares: -11,592
Change %: -100%
Price: $67.00
Shares after: 0
Date: 15 Dec 2025
Ownership: By Trust
Footnotes: F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Douglas C. Neve is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 3 footnotes

Footnote F1

Includes shares acquired in exempt transactions pursuant to the dividend equivalent feature of stock awards deferred under the non-employee director deferral plan of ALLETE, Inc., a Minnesota corporation (the "Company"), based on plan information available as of immediately prior to the Effective Time (as defined below).

Footnote F2

Pursuant to the terms of that certain Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 5, 2024, by and among the Company, Alloy Parent LLC, a Delaware limited liability company ("Parent"), and Alloy Merger Sub LLC, a Delaware limited liability company and wholly owned subsidiary of Parent ("Merger Sub"), at the effective time on December 15, 2025 (the "Effective Time"), Merger Sub merged with and into the Company, with the Company surviving such merger (the "Merger") as a subsidiary of Parent. In connection with the Merger, each share of Company common stock, no par value ("Common Stock"), was automatically converted into the right to receive $67.00 in cash per share without interest (the "Merger Consideration"). The disposition of the securities by the Reporting Person in the Merger was approved by the Company's board of directors in the manner contemplated by Rule 16b-3 under the Securities Exchange Act of 1934, as amended.

Footnote F3

Pursuant to the Merger Agreement, each deferred stock unit held by a non-employee director (a "DSU") that was outstanding immediately prior to the Effective Time was canceled as of the Effective Time and converted into a right to receive a cash payment with respect to an aggregate amount, without interest, equal in value to (x) the number of shares of Common Stock subject to such DSU immediately prior to the Effective Time after giving effect to the accumulation of dividend equivalents credited in respect of such DSU, multiplied by (y) the Merger Consideration.