[Form 3] Expand Energy Corporation Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Brittany Raiford, serving as a director and as VP, Interim CFO & Treasurer of Expand Energy Corporation (EXE), reported direct beneficial ownership of 16,056 common shares. The filing states these include 14,150 restricted stock units convertible into shares and two sets of performance share units of 1,046 each that vest contingent on total shareholder return metrics, exercisable in 2028.

Positive

• Insider alignment: Officer holds 14,150 restricted stock units, aligning interests with shareholders
• Performance linkage: Two performance share unit grants tie pay to total shareholder return, encouraging long-term performance

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider initial ownership: modest equity stake plus performance-linked units, aligning management incentives with shareholder returns.

The report discloses a direct holding of 16,056 common shares, including 14,150 restricted stock units and two performance-based grants of 1,046 units each. For investors, this is a standard Section 16 disclosure that confirms executive alignment with equity compensation programs rather than a market-moving transfer or sale. The performance share units are structured to pay out based on absolute and relative total shareholder return, creating linkages between executive pay and long-term stock performance.

Corporate Governance Expert

TL;DR: Governance signal: executive-level appointment with typical equity-based incentives, showing retention and performance orientation.

This initial Form 3 identifies an officer who is also a director and holds significant restricted and performance-contingent awards. Such disclosure is consistent with standard governance practices to align senior management with shareholder outcomes. The presence of both restricted stock units and PSUs (absolute and relative TSR metrics) indicates a mixture of retention and performance-based compensation, which is typical for mid-to-senior executives.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Raiford Brittany

(Last) (First) (Middle)

6100 N. WESTERN AVE

(Street)

OKLAHOMA CITY OK 73118

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/13/2025

3. Issuer Name and Ticker or Trading Symbol
EXPAND ENERGY Corp [ EXE ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Interim CFO & Treasurer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	16,056(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Share Unit	(2)	03/15/2028	Common Stock	1,046(2)	(2)	D
Performance Share Unit	(3)	03/15/2028	Common Stock	1,046(3)	(3)	D

Explanation of Responses:

1. The reported securities include 14,150 restricted stock units, each of which represents a contingent right to receive one share of Expand common stock.

2. Each performance share unit represents a contingent right to receive from zero to two shares of Expand common stock, depending on the achievement of Expand's absolute total shareholder return over the applicable performance period.

3. Each performance share unit represents a contingent right to receive from zero to two shares of Expand common stock, depending on the achievement of Expand's relative total shareholder return over the applicable performance period.

Remarks:

Exhibit 24 - Power of Attorney

	Michael D. May For: BRITTANY RAIFORD	08/21/2025
	** 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 5 (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 Brittany Raiford report on her Form 3 for EXE?

The Form 3 reports direct ownership of 16,056 common shares, which include 14,150 restricted stock units and two performance share unit grants of 1,046 each.

What roles does the reporting person hold at Expand Energy (EXE)?

The filing lists the reporting person as a Director and as VP, Interim CFO & Treasurer of Expand Energy.

What are the performance share units (PSUs) described in the filing?

Each PSU represents a contingent right to receive from 0 to 2 shares of common stock depending on achievement of absolute or relative total shareholder return over the performance period.

Are the reported PSUs exercisable immediately?

The PSUs are documented as exercisable on 03/15/2028, per the filing, indicating a future performance/vesting date.

Do the reported holdings include indirect ownership?

No. The filing shows the ownership form as Direct (D) for the common shares, restricted stock units, and performance share units.