IDACORP (NYSE: IDA) SVP receives stock awards and RSUs, with shares withheld for taxes

Rhea-AI Filing Summary

IDACORP SVP of Public Affairs Jeffrey L. Malmen reported equity compensation changes. On February 20, 2026, he was granted 1,354 restricted stock units, each representing one IDA common share, vesting on January 1, 2029, and 4,957 shares of common stock received for no consideration after meeting 2023–2025 performance criteria. To cover tax obligations, 2,215 common shares were disposed of at $139.89 per share through tax withholding, leaving 19,854 common shares held directly.

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^*

Malmen Jeffrey L

(Last) (First) (Middle)

1221 W IDAHO STREET

(Street)

BOISE ID 83702

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IDACORP INC [ IDA ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP of Public Affairs

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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 Stock	02/20/2026		A		4,957	A	(1)	22,069	D
Common Stock	02/20/2026		F		2,215	D	$139.89	19,854	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
Restricted Stock Units	(2)	02/20/2026		A		1,354		(3)	(3)	Common Stock	1,354	$0	1,354	D

Explanation of Responses:

1. These shares were received for no consideration upon the satisfaction of performance criteria underlying an award of performance-based units for the 2023-2025 performance period.

2. Each restricted stock unit represents a contingent right to receive one share of IDA common stock.

3. The restricted stock units vest on January 1, 2029.

	/s/ Cheryl W. Thompson, Attorney-in-Fact	02/24/2026
	** 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 did IDACORP (IDA) executive Jeffrey Malmen report on this Form 4?

Jeffrey L. Malmen reported equity compensation activity, not open-market trading. He received common shares and restricted stock units for no consideration after meeting 2023–2025 performance criteria, and had some shares withheld to satisfy tax obligations, all held in direct ownership.

How many restricted stock units did Jeffrey Malmen receive from IDACORP (IDA)?

He received 1,354 restricted stock units. Each unit represents a contingent right to one IDACORP common share. These units function as deferred equity compensation and are scheduled to vest on January 1, 2029, subject to the plan’s terms and continued eligibility conditions.

When do Jeffrey Malmen’s IDACORP (IDA) restricted stock units vest?

The restricted stock units vest on January 1, 2029. Until vesting, they are contingent rights rather than delivered shares. After vesting, each restricted stock unit converts into one share of IDACORP common stock, assuming all plan requirements continue to be satisfied.

Why were 2,215 IDACORP (IDA) shares disposed of in Jeffrey Malmen’s Form 4?

The 2,215 common shares were disposed of under code F as a tax-withholding transaction. This means shares were delivered back to cover tax liabilities arising from equity awards, rather than sold in an open-market trade, at a reported price of $139.89 per share.

How many IDACORP (IDA) common shares does Jeffrey Malmen hold after these transactions?

After the reported transactions, Jeffrey Malmen holds 19,854 IDACORP common shares directly. This figure reflects the net amount remaining after the equity grants and the tax-withholding disposition of 2,215 shares used to satisfy related tax obligations on the awards.

What performance period was tied to Jeffrey Malmen’s IDACORP (IDA) stock award?

The common stock grant was tied to the 2023–2025 performance period. Shares were received for no consideration after satisfaction of performance criteria under an award of performance-based units, aligning executive compensation with company performance over that timeframe.