---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-023047"
form_type: "8-K"
ticker: "MGEE"
cik: "0001161728"
company_name: "MGE ENERGY INC"
filed_at: "2023-05-18T23:59:59+00:00"
generated_at: "2026-06-14T20:49:18.037855+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# MGE Energy shareholders elect three Class I directors, ratify PwC, approve say-on-pay at 2023 annual meeting

## Summary
- James G. Berbee, Londa J. Dewey, and Thomas R. Stolper elected with votes ranging 19.2M-20.3M for; broker non-votes 4.73M.
- PricewaterhouseCoopers ratified as auditor for FY2023 with 98% of votes cast in favor (27.3M for, 670K against).
- Advisory say-on-pay approved with 95% of votes cast in favor (21.9M for, 1.15M against).
- Advisory vote on frequency: 94% favored one year; board confirms annual say-on-pay going forward.
- Directors continuing: Anderson, Bugher, Keebler, Possin, Wolter, Wray—terms through 2024 and 2025.

## SEC filing metadata
- accession: 0000950170-23-023047
- form_type: 8-K
- ticker: MGEE
- cik: 0001161728
- company_name: MGE ENERGY INC
- filed_at: 2023-05-18T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1161728/000095017023023047/0000950170-23-023047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/61339/000095017023023047/mgee-20230516.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-023047
- JSON: https://secwatch.observer/filing/0000950170-23-023047.json
- Plain text: https://secwatch.observer/filing/0000950170-23-023047.txt

## Key facts
- Shareholder Votes
  MGE ENERGY INC shareholders approved Advisory vote on the frequency of future executive compensation voting as disclosed in the annual meeting proxy statement at the 2023-05-16 meeting.
  - Proposal: say on pay frequency
  - Outcome: passed
  - Meeting: 2023-05-16
  source text: 4. Advisory vote on the frequency of future executive compensation voting as disclosed in the annual meeting proxy statement. One Year Two Years Three Years Abstained Broker Non-Votes 21,641,294 378,085 1,045,400 450,772 4,731,134
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023023047/0000950170-23-023047-index.htm
- Shareholder Votes
  MGE ENERGY INC shareholders approved Election of three Class I Directors with terms of office expiring at the 2026 annual meeting of shareholders at the 2023-05-16 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-05-16
  source text: 1. Election of three Class I Directors with terms of office expiring at the 2026 annual meeting of shareholders . For Votes Withhold Votes Broker Non-Votes James G. Berbee 20,224,507 3,291,044 4,731,134 Londa J. Dewey 20,262,340 3,253,211 4,731,134 Thomas R. Stolper 19,231,075 4,284,476 4,731,134
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023023047/0000950170-23-023047-index.htm
- Shareholder Votes
  MGE ENERGY INC shareholders approved Advisory vote on executive compensation as disclosed in the annual meeting proxy statement at the 2023-05-16 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2023-05-16
  source text: 3. Advisory vote on executive compensation as disclosed in the annual meeting proxy statement. For Votes Against Votes Abstained Broker Non-Votes 21,875,022 1,147,042 493,487 4,731,134
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023023047/0000950170-23-023047-index.htm
- Shareholder Votes
  MGE ENERGY INC shareholders approved Ratification of selection of PricewaterhouseCoopers LLP to serve as MGE Energy's independent registered public accounting firm for the year 2023 at the 2023-05-16 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-05-16
  source text: 2. Ratification of selection of PricewaterhouseCoopers LLP to serve as MGE Energy's independent registered public accounting firm for the year 2023. For Votes Against Votes Abstained Broker Non-Votes 27,308,486 670,711 267,488 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1161728/000095017023023047/0000950170-23-023047-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.