Is WEC diluting shareholders?

Read three numbers together: shares outstanding over time (325.8M as of 2026-06-30), warrants that can convert into new shares, and how much cash runway remains. A company short on cash with live registrations is structurally likely to issue shares.

Where do these numbers come from?

SEC EDGAR only: the XBRL company-facts API for shares, warrants and cash, and filing metadata for registrations and pricings. Every figure shows its source form, and nothing here is estimated by us beyond the arithmetic stated next to it.

Why might a warrant tranche be missing from the table?

The tranche table is built from the dimensions the company tagged in its own 10-Q or 10-K XBRL. A tranche the filer chose not to dimension does not appear, and its absence proves nothing: the exhibits remain the ground truth. Everything shown carries the filing it came from.

Dilution profile // every instrument, one screen, from SEC filings

WEC ENERGY GROUP, INC. (WEC)

CIK 783325 · all EDGAR filings →

Overall dilution risk

HIGHworst of 3 computed signals (offering ability)

= the worst band among the computed sub-ratings, no hidden weighting

not every sub-rating was computable; treat as a floor

Offering ability

HIGHS-3ASR on file 2024-08-05

= is there a registration (S-1/S-3 family) on file without a later withdrawal

no structured fee data on the live registrations, so this is a yes/no, not a size

Overhead supply

NOT COMPUTEDno warrant count tagged in XBRL

= warrant shares outstanding divided by current shares outstanding

absence of a tag is not proof of absence of warrants

Historical dilution

LOW+3% O/S in 3y

= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative

Cash need

LOWoperating cash flow positive

= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

Latest: 325.8M shares as of Jun 30, 2026 (10-Q).

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

No warrant figures tagged in this filer’s XBRL facts. That means the company has not reported them in structured form; it does not prove no warrants exist. The exhibits are the ground truth.

Convertible notes

Note	Principal	Carrying	Conv. price	Rate	If converted
WEC 3.375 Convertible Notes Due June 12028	not tagged	$893.2M	not tagged	—	—
WEC 4.375 Convertible Notes Due June 12027	not tagged	$859.5M	not tagged	—	—
WEC 4.375 Convertible Notes Due June 12029	not tagged	$856.7M	not tagged	—	—

Notes exactly as the company dimensioned them in its 10-Q filed Aug 4, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Registrations and offerings

S-3ASRAug 5, 2024fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

S-3ASROct 18, 2023no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 5 executed · 0 registered.

EXECUTEDFeb 24, 2026Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDFeb 23, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

MARKETINGFeb 23, 2026Free-writing prospectus — offering being marketedFWP →

EXECUTEDNov 4, 2025Prospectus supplement priced — shares or notes (large filers: often a bond deal)424B2 →

EXECUTEDNov 3, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

MARKETINGNov 3, 2025Free-writing prospectus — offering being marketedFWP →

EXECUTEDOct 31, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

EXECUTEDJun 10, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDAug 6, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5 →

REGISTEREDAug 5, 2024Automatic shelf registration — effective immediately (large filers)S-3ASR →

EXECUTEDJun 5, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

EXECUTEDMay 28, 2024Unregistered share sale disclosed (8-K item 3.02)8-K →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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