STOCK TITAN

[Form 4] CNX Resources Corporation Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Navneet Behl, Chief Operating Officer of CNX Resources Corp (CNX), reported a change in beneficial ownership. On 09/01/2025 he had 3,776 common shares disposed of at $29.20 per share, representing shares automatically withheld to satisfy tax obligations from the vesting of previously granted performance share units. Following the transaction, Mr. Behl beneficially owned 155,230 common shares, of which 102,565 are restricted stock units that include dividend equivalent rights. The Form 4 was signed on 09/03/2025 by his attorney-in-fact.

Navneet Behl, Chief Operating Officer di CNX Resources Corp (CNX), ha comunicato una variazione nella titolarità effettiva. Il 01/09/2025 sono state cedute 3.776 azioni ordinarie a 29,20$ ciascuna, corrispondenti a quote trattenute automaticamente per il pagamento delle imposte derivanti dal consolidamento di performance share units precedentemente assegnate. Dopo l'operazione, il Sig. Behl deteneva in via beneficiaria 155.230 azioni ordinarie, di cui 102.565 sono restricted stock unit che comprendono diritti equivalenti ai dividendi. Il modulo Form 4 è stato firmato il 03/09/2025 dal suo procuratore.

Navneet Behl, Director de Operaciones (COO) de CNX Resources Corp (CNX), informó un cambio en la propiedad beneficiaria. El 01/09/2025 se dispusieron 3.776 acciones ordinarias a 29,20$ por acción, representando acciones retenidas automáticamente para cubrir obligaciones fiscales derivadas del otorgamiento de unidades de rendimiento previamente concedidas. Tras la transacción, el Sr. Behl poseía beneficiariamente 155.230 acciones ordinarias, de las cuales 102.565 son unidades restringidas de acciones que incluyen derechos equivalentes a dividendos. El Formulario 4 fue firmado el 03/09/2025 por su apoderado.

CNX Resources Corp (CNX)의 최고운영책임자(COO) Navneet Behl이 실소유권 변동을 보고했습니다. 2025-09-01에 3,776주의 보통주가 주당 $29.20에 처분되었으며, 이는 이전에 부여된 성과 주식 단위(PSU)의 권리 확정으로 발생한 세금 납부를 위해 자동으로 원천징수된 주식입니다. 거래 이후 Behl 씨는 배당 상응권이 포함된 102,565주의 제한주식단위를 포함해 총 155,230주의 보통주를 실질적으로 보유하게 되었습니다. Form 4는 2025-09-03에 그의 대리인이 서명했습니다.

Navneet Behl, directeur des opérations (COO) de CNX Resources Corp (CNX), a déclaré une modification de la détention bénéficiaire. Le 01/09/2025, 3 776 actions ordinaires ont été cédées à 29,20 $ chacune, représentant des actions retenues automatiquement pour couvrir les obligations fiscales liées à la consolidation d'unités d'actions de performance précédemment attribuées. À la suite de la transaction, M. Behl détenait au bénéfice 155 230 actions ordinaires, dont 102 565 sont des restricted stock units incluant des droits équivalents aux dividendes. Le formulaire 4 a été signé le 03/09/2025 par son mandataire.

Navneet Behl, Chief Operating Officer von CNX Resources Corp (CNX), meldete eine Änderung des wirtschaftlichen Eigentums. Am 01.09.2025 wurden 3.776 Stammaktien zu je 29,20$ veräußert; diese Aktien wurden automatisch einbehalten, um Steuerverpflichtungen aus der Versteuerung zuvor gewährter Performance-Share-Units zu erfüllen. Nach der Transaktion hielt Herr Behl wirtschaftlich 155.230 Stammaktien, davon 102.565 Restricted Stock Units, die Dividendengleichwertrechte einschließen. Das Formular 4 wurde am 03.09.2025 von seinem Bevollmächtigten unterzeichnet.

Positive
  • Retention of substantial equity stake: Reporting person beneficially owns 155,230 shares, maintaining alignment with shareholders.
  • Majority of holding restricted: 102,565 of the shares are restricted stock units including dividend equivalent rights, indicating continued incentive alignment.
  • Transaction explained as tax withholding: Disposal of 3,776 shares was to satisfy tax liabilities from vested performance share units, a routine administrative action.
Negative
  • Shares reduced by withholding: 3,776 shares were disposed of, lowering the reporting person's free-share balance.
  • Potential near-term sell pressure: While described as tax withholding, the disposal removed shares from the marketable pool at $29.20 each.

Insights

TL;DR: Insider sold a small block to cover taxes; substantial RSU exposure remains, signalling continued alignment with equity upside.

The reported disposal of 3,776 shares was executed to satisfy tax withholding on vested performance-based awards rather than a market sale for discretionary liquidity based on the explanation provided. After the withholding, the reporting person retains 155,230 shares, including 102,565 RSUs, maintaining significant equity exposure to CNX. For investors, the transaction appears administrative and non-dispositive of longer-term incentive holdings; it does not indicate a reduction of the executive's retained restricted equity position.

TL;DR: Transaction consistent with routine compensation settlement; governance signals intact given large restricted equity balance.

The Form 4 disclosure documents standard tax withholding upon vesting of performance share units. Retention of a large number of RSUs suggests ongoing alignment of executive incentives with shareholder outcomes. No indication of accelerated dilution, related-party transfers, or exercising of options is present. The reporting through an attorney-in-fact and timely Form 4 filing are procedurally appropriate.

Navneet Behl, Chief Operating Officer di CNX Resources Corp (CNX), ha comunicato una variazione nella titolarità effettiva. Il 01/09/2025 sono state cedute 3.776 azioni ordinarie a 29,20$ ciascuna, corrispondenti a quote trattenute automaticamente per il pagamento delle imposte derivanti dal consolidamento di performance share units precedentemente assegnate. Dopo l'operazione, il Sig. Behl deteneva in via beneficiaria 155.230 azioni ordinarie, di cui 102.565 sono restricted stock unit che comprendono diritti equivalenti ai dividendi. Il modulo Form 4 è stato firmato il 03/09/2025 dal suo procuratore.

Navneet Behl, Director de Operaciones (COO) de CNX Resources Corp (CNX), informó un cambio en la propiedad beneficiaria. El 01/09/2025 se dispusieron 3.776 acciones ordinarias a 29,20$ por acción, representando acciones retenidas automáticamente para cubrir obligaciones fiscales derivadas del otorgamiento de unidades de rendimiento previamente concedidas. Tras la transacción, el Sr. Behl poseía beneficiariamente 155.230 acciones ordinarias, de las cuales 102.565 son unidades restringidas de acciones que incluyen derechos equivalentes a dividendos. El Formulario 4 fue firmado el 03/09/2025 por su apoderado.

CNX Resources Corp (CNX)의 최고운영책임자(COO) Navneet Behl이 실소유권 변동을 보고했습니다. 2025-09-01에 3,776주의 보통주가 주당 $29.20에 처분되었으며, 이는 이전에 부여된 성과 주식 단위(PSU)의 권리 확정으로 발생한 세금 납부를 위해 자동으로 원천징수된 주식입니다. 거래 이후 Behl 씨는 배당 상응권이 포함된 102,565주의 제한주식단위를 포함해 총 155,230주의 보통주를 실질적으로 보유하게 되었습니다. Form 4는 2025-09-03에 그의 대리인이 서명했습니다.

Navneet Behl, directeur des opérations (COO) de CNX Resources Corp (CNX), a déclaré une modification de la détention bénéficiaire. Le 01/09/2025, 3 776 actions ordinaires ont été cédées à 29,20 $ chacune, représentant des actions retenues automatiquement pour couvrir les obligations fiscales liées à la consolidation d'unités d'actions de performance précédemment attribuées. À la suite de la transaction, M. Behl détenait au bénéfice 155 230 actions ordinaires, dont 102 565 sont des restricted stock units incluant des droits équivalents aux dividendes. Le formulaire 4 a été signé le 03/09/2025 par son mandataire.

Navneet Behl, Chief Operating Officer von CNX Resources Corp (CNX), meldete eine Änderung des wirtschaftlichen Eigentums. Am 01.09.2025 wurden 3.776 Stammaktien zu je 29,20$ veräußert; diese Aktien wurden automatisch einbehalten, um Steuerverpflichtungen aus der Versteuerung zuvor gewährter Performance-Share-Units zu erfüllen. Nach der Transaktion hielt Herr Behl wirtschaftlich 155.230 Stammaktien, davon 102.565 Restricted Stock Units, die Dividendengleichwertrechte einschließen. Das Formular 4 wurde am 03.09.2025 von seinem Bevollmächtigten unterzeichnet.

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*
Behl Navneet

(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Operating Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025
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 09/01/2025 F 3,776(1) D $29.2 155,230(2) D
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
Explanation of Responses:
1. Represents shares automatically withheld to satisfy the reporting person's tax liability from the vesting of performance share units previously granted to him.
2. Of the shares owned, 102,565 are restricted stock units (including dividend equivalent rights).
Remarks:
/s/ Navneet Behl by Sarah Molinero, his attorney-in-fact 09/03/2025
** 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 did CNX insider Navneet Behl report on Form 4?

The Form 4 reports disposal of 3,776 common shares on 09/01/2025 at $29.20 per share to satisfy tax withholding from vested performance share units.

How many CNX (CNX) shares does Navneet Behl own after the transaction?

After the reported transaction he beneficially owns 155,230 common shares, of which 102,565 are restricted stock units including dividend equivalent rights.

Was the share disposal a market sale or tax withholding?

The filing explains the shares were automatically withheld to satisfy the reporting person’s tax liability from vesting performance share units.

Who signed the Form 4 for Navneet Behl and when?

The Form 4 was signed by Navneet Behl by Sarah Molinero, his attorney-in-fact on 09/03/2025.

Do the retained shares include dividend rights?

Yes, the filing states that the 102,565 restricted stock units include dividend equivalent rights.
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