Xcel Energy (XEL)

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2025-12-28 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: XCEL ENERGY INC (XEL) CIK: 0000072903 --- Reporting Owner --- Name: Welsh Timothy A CIK: 0001711665 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Common Stock Date: 2025-12-28 | Code: A (Grant or award) Shares: +503.897 | Price: $0.00 Shares Owned After: 14,074.484 | Ownership: D (Direct) Footnotes: [F1] Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash. [F2] Of the 503.897 stock equivalent units, 419.914 were granted at a price of $74.42 per unit in lieu of the reporting person's quarterly cash retainer, and 83.983 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer. [F3] Includes 91.254 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents. --- Footnotes (Complete Index) --- F1: Retainer granted in the form of stock equivalent units payable in whole shares of common stock following termination of the reporting person's service as director and fractional units are payable at such time in cash. F2: Of the 503.897 stock equivalent units, 419.914 were granted at a price of $74.42 per unit in lieu of the reporting person's quarterly cash retainer, and 83.983 were granted at no cost to the reporting person as a 20% premium on the amount of such retainer. F3: Includes 91.254 stock equivalent units acquired pursuant to the reinvestment of dividend equivalents. --- Signature --- /s/ Kristin L. Westlund, Attorney in Fact for Timothy A. Welsh (2025-12-30)