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Share-Based Compensation
3 Months Ended
Mar. 31, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-Based Compensation

Share-Based Compensation - MGE Energy and MGE.

 

During the three months ended March 31, 2021 and 2020, MGE recorded $0.7 million in compensation expense and $0.6 million in compensation benefit, respectively, related to share-based compensation awards under the 2006 Performance Unit Plan, the 2020 Performance Unit Plan, the 2013 Director Incentive Plan, and the 2021 Long-Term Incentive Plan (2021 Plan).

 

In January 2021, cash payments of $1.9 million were distributed related to awards that were granted under the plans in 2018, for the 2013 Director Incentive Plan, and in 2016, for the 2006 Performance Unit Plan.

 

In February 2021, MGE issued 10,187 performance units and 16,267 restricted stock units under the 2021 Plan to eligible employees and non-employee directors.

The performance units can be paid out in either cash, shares of common stock or a combination of cash and stock and are accounted for as a liability award. The restricted stock units will be paid out in shares of common stock, and therefore accounted for as equity awards.