Gale E. Klappa’s SEC Form 4 filings reveal a consistent pattern of open-market selling in WEC Energy Group (WEC), with no corresponding purchases in the past year. Across 37 total transactions spanning two companies, Klappa disposed of approximately $9.48 million in stock, entirely through sales in WEC. The most recent cluster of sales occurred between February 13 and February 23, 2026, with three separate transactions totaling roughly $1.53 million. These sales were paired with option exercises (code M) on the same dates, a mechanical pattern where shares are acquired at a strike price and immediately sold at market value. For instance, on February 13, Klappa exercised options valued at $1.70 million and sold shares worth $576,909; similar same-day exercise-and-sale pairings occurred on February 17 and February 23.
The selling bias is unambiguous: Klappa has recorded zero open-market purchases (code P) across the entire filing history, while the $9.48 million in total sell value dwarfs the $404,214 in acquired value, which consists entirely of compensation-related grants (code A) and option exercises. The WEC sales have been steady and substantial, including an August 1, 2025, transaction worth $1.11 million and a March 3, 2025, sale of $1.08 million. In contrast, activity in Associated Banc-Corp (ASB) is limited to small quarterly equity awards—typically between $1,000 and $5,000—with the largest being a $124,987 grant on February 1, 2026. These ASB transactions are compensation events, not discretionary trades, and do not offset the persistent WEC selling. The overall trajectory points to a director or officer systematically monetizing WEC equity holdings while maintaining a passive, award-only position in ASB.
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