Atmos Energy (NYSE: ATO) director receives new phantom stock grant

Rhea-AI Filing Summary

ATMOS ENERGY CORP director Telisa Toliver acquired 920.2600 phantom stock units as a compensation grant. Each unit is equivalent to one share of Atmos Energy common stock, so the award tracks the company’s share price but is not an open-market purchase.

The units were granted under the 1998 Long-Term Incentive Plan and are to be settled when Toliver’s service on the Board ends. After this grant, Toliver holds a total of 3050.8357 phantom stock units, reinforcing long-term, equity-linked alignment with shareholders.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TOLIVER TELISA

(Last) (First) (Middle)

5430 LBJ FREEWAY

SUITE 1800

(Street)

DALLAS TX 75240

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ATMOS ENERGY CORP [ ATO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(1)	03/06/2026		A		920.26		(2)	(2)	Common Stock	920.26	$184.73	3,050.8357	D

Explanation of Responses:

1. Each unit of phantom stock is equivalent to one share of the Company's common stock.

2. The phantom stock units were granted under the 1998 Long-Term Incentive Plan (the "Plan") and are to be settled upon the reporting person's termination of service on the Company's Board.

	/s/Suzanne Johnson by POA	03/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did ATMOS ENERGY (ATO) report for Telisa Toliver?

ATMOS ENERGY reported that director Telisa Toliver received a grant of 920.2600 phantom stock units. This is a compensation-related award, not an open-market stock purchase or sale, and is reported as an acquisition on a Form 4 filing.

What are phantom stock units in the ATMOS ENERGY (ATO) Form 4 filing?

The filing explains that each phantom stock unit is equivalent to one share of ATMOS ENERGY common stock. These units track the share price for compensation purposes but are typically settled in cash or stock later, rather than being current, tradeable shares.

Under which plan were Telisa Toliver’s phantom stock units granted at ATMOS ENERGY (ATO)?

The phantom stock units were granted under ATMOS ENERGY’s 1998 Long-Term Incentive Plan. This plan provides equity-linked awards to align directors’ compensation with shareholder interests over the long term, based on the company’s common stock performance.

When will Telisa Toliver’s phantom stock units at ATMOS ENERGY (ATO) be settled?

The Form 4 states that the phantom stock units will be settled upon Toliver’s termination of service on ATMOS ENERGY’s Board. This means payout occurs when she leaves Board service, reinforcing a long-term incentive structure for her role as director.

How many phantom stock units does Telisa Toliver hold after this ATMOS ENERGY (ATO) grant?

After the reported grant, Telisa Toliver holds a total of 3050.8357 phantom stock units. This total reflects the newly awarded 920.2600 units plus her prior balance, all tied in value to ATMOS ENERGY common stock performance.

Does the ATMOS ENERGY (ATO) Form 4 show a stock buy or sale by Telisa Toliver?

No, the Form 4 shows a grant/award acquisition of phantom stock units, not an open-market buy or sale. The transaction code "A" and description indicate compensation, meaning Toliver did not purchase or sell common shares in the market.