CNX Resources (CNX) director exercises options and sells 46,119 shares

Rhea-AI Filing Summary

CNX Resources director Bernard Lanigan Jr exercised a stock option for 46,119 shares on February 19, 2026, converting it into common stock at an exercise price of 13.1857 per share. He then sold 46,119 common shares in an open-market transaction at a weighted average price of 40.5955 per share, with individual sale prices ranging from 40.3100 to 40.7100. After these trades, he held 177,180 common shares directly, including 6,762 restricted stock units, and reported additional indirect ownership of CNX shares through several entities, including 401,820 shares by Conifer Partners IV, LLC, 30,600 shares by Lanigan Family Holdings, LLC, 669,806 shares by Conifer Partners III, LLC, 82,600 shares by Conifer Partners II, LLC, and 58,845 shares by Teton Pines Capital, LLC.

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

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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^*

LANIGAN BERNARD JR

(Last) (First) (Middle)

1000 HORIZON VUE DRIVE

(Street)

CANONSBURG PA 15317

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CNX Resources Corp [ CNX ]

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)
02/19/2026

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
Common shares, $0.01 par value per share	02/19/2026		M		46,119	A	$13.1857	223,299(1)	D
Common shares, $0.01 par value per share	02/19/2026		S		46,119	D	$40.5955(2)	177,180	D
Common shares, $0.01 par value per share								401,820(3)	I	By Conifer Partners IV, LLC
Common shares, $0.01 par value per share								30,600(4)	I	By Lanigan Family Holdings, LLC
Common shares, $0.01 par value per share								669,806(5)	I	By Conifer Partners III, LLC
Common shares, $0.01 par value per share								82,600(6)	I	By Conifer Partners II, LLC
Common shares, $0.01 par value per share								58,845(7)	I	By Teton Pines Capital, LLC

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
Stock Option (right to buy)	$13.1857(8)	02/19/2026		M			46,119	(9)	05/11/2026	Common shares, $0.01 par value per share	46,119(8)	$0	0	D

Explanation of Responses:

1. Of the shares owned directly, 6,762 are restricted stock units.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.3100 to $40.7100, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. Shares held in Conifer Partners, IV, LLC, of which Mr. Lanigan is part owner of the managing member.

4. Shares held in Lanigan Family Holdings, LLC (f/k/a Lanigan Family Limited Partnership), of which Mr. Lanigan is a member.

5. Shares held in Conifer Partners III, LLC, of which Mr. Lanigan is part owner of the managing member.

6. Shares held in Conifer Partners II, LLC, of which Mr. Lanigan is part owner of the managing member.

7. Shares held in Teton Pines Capital, LLC, of which Mr. Lanigan controls the managing member. Mr. Lanigan disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that he is the beneficial owner of such securities for Section 16 or any other purpose.

8. This stock option, including share amount and exercise price, reflects an exempt anti-dilution adjustment to such award in connection with the 2017 spin-off of the Issuer from CONSOL Energy Inc.

9. This stock option vested on May 9, 2017.

Remarks:

	/s/ Bernard Lanigan, Jr. by Sarah Molinero, his attorney in fact	02/20/2026
	** 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.
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FAQ

What insider transactions did CNX director Bernard Lanigan Jr report?

Bernard Lanigan Jr reported exercising a stock option for 46,119 CNX shares at an exercise price of $13.1857, then selling 46,119 common shares in an open-market transaction at a weighted average price of $40.5955 per share, all on February 19, 2026.

At what prices did Bernard Lanigan Jr sell CNX Resources (CNX) shares?

He sold 46,119 CNX common shares at a weighted average price of $40.5955 per share. The individual sale prices ranged from $40.3100 to $40.7100, as disclosed, with detailed trade breakdowns available on request from the issuer or the SEC staff.

How many CNX shares does Bernard Lanigan Jr own directly after these transactions?

After the reported transactions, Bernard Lanigan Jr held 177,180 CNX common shares directly. This direct holding includes 6,762 restricted stock units, which are share-based awards that typically vest over time according to previously established terms and conditions.

What indirect CNX shareholdings are associated with Bernard Lanigan Jr?

He reported indirect ownership of CNX shares through several entities: 401,820 shares by Conifer Partners IV, LLC, 30,600 by Lanigan Family Holdings, LLC, 669,806 by Conifer Partners III, LLC, 82,600 by Conifer Partners II, LLC, and 58,845 by Teton Pines Capital, LLC.

What type of derivative security did Bernard Lanigan Jr exercise at CNX Resources?

He exercised a stock option, described as a “Stock Option (right to buy),” covering 46,119 CNX shares. The option had an exercise price of $13.1857 per share and had vested on May 9, 2017, following an anti-dilution adjustment related to the 2017 spin-off.

How is the Teton Pines Capital LLC CNX holding described for Bernard Lanigan Jr?

The 58,845 CNX shares held by Teton Pines Capital, LLC are reported as indirectly owned. The filing states Mr. Lanigan controls the managing member but disclaims beneficial ownership except for any pecuniary interest, clarifying the extent of his economic stake in those securities.