Company: WELPM
Filing Date: 2025-03-27
Form Type: DEF 14C
Source: 0000107815-25-000155
Chunk: 159

Company: WISCONSIN ELECTRIC POWER CO
Filing Date: 2025-03-27
Form: DEF 14C
Chunk 159
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                           |     |
| Outstanding as of December 31, 2024 |     |                   | 433,270 |     |                                 | 78.74 |     |                                         5.0 |     | $                         | 6.7 |
| Exercisable as of December 31, 2024 |     |                   | 322,814 |     |                                 | 74.59 |     |                                         4.0 |     | $                         | 6.3 |

The aggregate intrinsic value of outstanding and exercisable options in the above table represents the total pre-tax intrinsic value that would have been received by the option holders had they exercised all of their options on December 31, 2024. This is calculated as the difference between WEC Energy Group's closing stock price on December 31, 2024, and the option exercise price, multiplied by the number of in-the-money stock options. The intrinsic value of options exercised during the years ended December 31, 2024, 2023, and 2022 was $2.0 million, $2.5 million, and $6.1 million, respectively. Cash received by WEC Energy Group from exercises of its options by our employees was $3.5 million, $2.5 million, and $4.3 million during the years ended December 31, 2024, 2023, and 2022, respectively. The actual tax benefit from option exercises for the same years was approximately $0.5 million, $0.7 million, and $1.7 million, respectively.

As of December 31, 2024, we expected to recognize approximately $0.5 million of unrecognized compensation cost related to unvested and outstanding WEC Energy Group stock options over the next 1.8 years on a weighted-average basis.

During the first quarter of 2025, the Compensation Committee awarded 41,084 non-qualified WEC Energy Group stock options with an exercise price of $94.55 and a weighted-average grant date fair value of $18.23 per option to certain of our officers and other key employees under its normal schedule of awarding long-term incentive compensation.

#### Restricted Shares
The following is a summary of our employees' WEC Energy Group restricted stock activity during 2024:

| Restricted Shares                                |     | Number of Shares |        |     | Weighted-Average Grant Date Fair Value |       |
|:-------------------------------------------------|:----|:-----------------