Xcel Energy Inc. files Definitive Proxy Statement for 2024 Annual Meeting

Ticker: XELLL · Form: DEF 14A · Filed: Apr 9, 2024 · CIK: 72903

Xcel Energy Inc DEF 14A Filing Summary
FieldDetail
CompanyXcel Energy Inc (XELLL)
Form TypeDEF 14A
Filed DateApr 9, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$51.6B, $1.7 billion, $1.5 billion, $4 billion, $4.4 million
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Shareholder Voting, Executive Compensation, Xcel Energy

TL;DR

<b>Xcel Energy Inc. has filed its Definitive Proxy Statement for the 2024 Annual Meeting of Shareholders, scheduled for May 22, 2024.</b>

AI Summary

XCEL ENERGY INC (XELLL) filed a Proxy Statement (DEF 14A) with the SEC on April 9, 2024. Xcel Energy Inc. is holding its 2024 Annual Meeting of Shareholders on May 22, 2024, at 11:00 a.m. Central Time. The company serves approximately 3.8 million electric customers and 2.2 million natural gas customers. Xcel Energy reported $51.6 billion in capital assets as of 2023. 54% of Xcel Energy's electricity generation is carbon-free. The proxy statement details voting procedures, including internet, telephone, and mail options, and emphasizes the importance of shareholder voting on director elections and executive compensation.

Why It Matters

For investors and stakeholders tracking XCEL ENERGY INC, this filing contains several important signals. This filing is crucial for shareholders to understand the proposals being voted on, including director elections and executive compensation, and to ensure their votes are counted. The proxy statement provides key operational and financial data, offering insights into the company's scale and commitment to clean energy, which are important for investment decisions.

Risk Assessment

Risk Level: low — XCEL ENERGY INC shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial results or significant strategic shifts, indicating a low level of immediate risk.

Analyst Insight

Shareholders should review the proxy materials to make informed voting decisions on director nominees and executive compensation plans.

Key Numbers

  • 3.8 M — Electric Customers (Business Overview)
  • 2.2 M — Natural Gas Customers (Business Overview)
  • 11,000 — Xcel Energy Jobs (Business Overview)
  • 51.6B — 2023 Capital Assets (Business Overview)
  • 54% — Carbon-Free Electricity (Business Overview)
  • 2024-05-22 — Annual Meeting Date (Meeting Information)
  • 11:00 a.m. Central Time — Annual Meeting Time (Meeting Information)

Key Players & Entities

  • XCEL ENERGY INC (company) — Registrant
  • 0000072903 (company) — Central Index Key
  • 4931 (company) — Standard Industrial Classification
  • MN (company) — State of Incorporation
  • 414 NICOLLET MALL (company) — Business Address Street 1
  • MINNEAPOLIS (company) — Business Address City
  • 55401 (company) — Business Address Zip
  • NORTHERN STATES POWER CO /MN/ (company) — Former Company Name

FAQ

When did XCEL ENERGY INC file this DEF 14A?

XCEL ENERGY INC filed this Proxy Statement (DEF 14A) with the SEC on April 9, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by XCEL ENERGY INC (XELLL).

Where can I read the original DEF 14A filing from XCEL ENERGY INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by XCEL ENERGY INC.

What are the key takeaways from XCEL ENERGY INC's DEF 14A?

XCEL ENERGY INC filed this DEF 14A on April 9, 2024. Key takeaways: Xcel Energy Inc. is holding its 2024 Annual Meeting of Shareholders on May 22, 2024, at 11:00 a.m. Central Time.. The company serves approximately 3.8 million electric customers and 2.2 million natural gas customers.. Xcel Energy reported $51.6 billion in capital assets as of 2023..

Is XCEL ENERGY INC a risky investment based on this filing?

Based on this DEF 14A, XCEL ENERGY INC presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial results or significant strategic shifts, indicating a low level of immediate risk.

What should investors do after reading XCEL ENERGY INC's DEF 14A?

Shareholders should review the proxy materials to make informed voting decisions on director nominees and executive compensation plans. The overall sentiment from this filing is neutral.

How does XCEL ENERGY INC compare to its industry peers?

Xcel Energy Inc. operates as a utility company providing electricity and natural gas. The company is focused on delivering reliable, safe, affordable, and clean energy.

Are there regulatory concerns for XCEL ENERGY INC?

The filing is a proxy statement (DEF 14A) filed under the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

Industry Context

Xcel Energy Inc. operates as a utility company providing electricity and natural gas. The company is focused on delivering reliable, safe, affordable, and clean energy.

Regulatory Implications

The filing is a proxy statement (DEF 14A) filed under the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

  1. Review the proxy statement for details on director nominees and executive compensation.
  2. Vote your shares using the provided internet, telephone, or mail options.
  3. Ensure your broker has instructions to vote your shares on non-routine matters if you hold shares in a brokerage account.

Key Dates

  • 2024-05-22: Annual Meeting of Shareholders — Shareholders will vote on key company matters.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a Definitive Proxy Statement, typically filed annually to provide shareholders with information for the annual meeting.

Filing Stats: 4,494 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-04-09 16:54:24

Key Financial Figures

  • $51.6B — CUSTOMERS ~11,000 XCEL ENERGY JOBS $51.6B 2023 CAPITAL ASSETS 54% CARBON-FREE
  • $1.7 billion — e ground on Colorado's Power Pathway, a $1.7 billion transmission superhighway across the Ea
  • $1.5 billion — Department of Energy awarded us nearly $1.5 billion to support our Heartland Hydrogen Hub,
  • $4 billion — tts of wind energy have provided nearly $4 billion in customer price mitigation through av
  • $4.4 million — ays: The Xcel Energy Foundation granted $4.4 million to 409 nonprofits through our focus are
  • $4.1 m — area grants. Our Giving Campaign raised $4.1 million, benefiting more than 1,300 nonpr
  • $230,000 — ing an economic impact of approximately $230,000, and in 2023 our Customer Care group co
  • $186.9 million — mer Care group connected customers with $186.9 million of public energy assistance. As we del
  • $3.35 — s, we also achieved ongoing earnings of $3.35 per share in 2023, which represented ou
  • $6 billion — of Xcel Energy, investing approximately $6 billion in infrastructure to improve the resili
  • $39 billion — itious capital investment plan to date: $39 billion over the next five years. Xcel Energy
  • $1.3 billion — our supply chain spend was local, with ~$1.3 billion spent with diverse and small suppliers
  • $15 million — ayer in multiple states that we serve >$15 million contributed to local nonprofits by the
  • $187 million — community boards In 2023, distributed $187 million in energy assistance, supporting ~188,0

Filing Documents

Executive Compensation (Say on Pay Vote)

Executive Compensation (Say on Pay Vote) 32 Compensation Discussion and Analysis 33 Highlights 33 Establishing Compensation 35 Additional Compensation Program Features and Policies 41 Report of the Compensation Committee 43

Executive Compensation

Executive Compensation 44 Summary Compensation Table 44 Grants of Plan-Based Awards 46 Outstanding Equity Awards at Fiscal Year-End 47 Option Exercises and Stock Vested 48 Pension Benefits 49 Nonqualified Deferred Compensation 51 Potential Payments upon Termination or Change in Control 52 CEO Pay Ratio 55 Pay Versus Performance 56 Proposal No. 3 Approval of the Xcel Energy Inc. 2024 Equity Incentive Plan 58 Factors Considered in Setting Size of Share Reserve 58 Updated Equity Compensation Plan Information 58 Key Compensation Practices 59 Description of the 2024 Plan 59 U.S. Federal Income Tax Consequences 62 New Plan Benefits 63 Securities Authorized for Issuance under Equity Compensation Plans 63 Director Compensation 64 Annual Equity Grant 64 Stock Program 64 Director Compensation Table 65 Director Stock Ownership Guidelines 65 Proposal No. 4 Ratification of Independent Registered Public Accounting Firm 66 Report of the Audit Committee 67 Independent A uditors 67 Audit and Non-Audit Fees 67 Audit and Non-Audit Services Pre-Approval Policy 68 Related Person Transactions 68 69 Directors and Officers 69 Largest Shareholders 70 Questions and Answers About the Annual Meeting and Voting 71 Appendix A – R e conciliation of Ongoing E PS A- 1 Appendix B – 2 024 Equity Incentive Plan B- 1

Forward-Looking Statements

Forward-Looking Statements The statements contained in this proxy statement about our future performance, including, without limitation, future financial and operational results, strategies, visions, prospects, consequences and all other statements that are not purely historical, are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Although we believe that our expectations are based on information currently available and on reasonable assumptions, we can give no assurance they will be achieved. There are a number of risks and uncertainties that could cause actual results to differ materially from any forward-looking statements made herein. A discussion of some of these risks and uncertainties is contained in our Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission ("SEC"), which are available on our website: xcelenergy.com . These reports address in further detail our business, industry issues and other factors that could cause actual results to differ materially from those indicated in this proxy statement. In addition, any forward-looking statements included herein represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even if our internal estimates change, unless otherwise required by applicable securities laws. Xcel Energy's website address is xcelenergy.com. The information on Xcel Energy's website is not a part of, or incorporated by reference into, this proxy statement. PROXY SUMMARY Proposals Board Vote Recommendation Page Reference (for more detail) 1 Election of Directors Candidates provide the needed experience and expertise to govern the Company and ensure strong independent oversight. FOR each nominee Page 21

View Full Filing

View this DEF 14A filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.