Burkhart Megan D, serving as SEVP and Chief Admin Officer, has filed 40 Form 4 transactions across two companies, yet the pattern reveals no open-market buying or selling whatsoever. Her entire recorded activity consists of automatic or compensatory events: grants (code A), shares withheld for taxes (code F), and dispositions back to the issuer (code D). The total acquired value across all filings reached $254,961, but this figure is driven entirely by equity awards rather than discretionary purchases, while no open-market sales (code S) appear in the record.
The most recent transactions, spanning late 2025 through mid-2026, cluster around Xcel Energy (XEL) and Comerica (CMA). For XEL, Burkhart received a series of zero-value grants on quarterly dates—June 28, 2026; May 21, 2026; March 28, 2026; and December 28, 2025—consistent with routine compensation. The CMA filings are more complex: on February 1, 2026, she executed nine separate code D transactions (sales back to the issuer) with no disclosed dollar value, following three code A grants on January 27, 2026. Earlier, on January 15, 2026, she had a tax-withholding event valued at $279,929.09, and on December 29, 2025, another at $127,879.30, with a further $138,509.67 withheld on February 20, 2025.
The absence of any code P (open-market purchase) or code S (open-market sale) transactions indicates that Burkhart has not made any directional bets on either stock during this period. Her activity is entirely mechanical—award vesting, tax settlements, and issuer buybacks—revealing no conviction either way. The dollar values attached to the F codes reflect share prices at vesting, not trading decisions, and the D codes on February 1, 2026, likely represent routine surrenders of shares to cover obligations. Overall, the filing history shows a compensation-driven pattern with no discretionary market participation.
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