Knife River (NYSE: KNF) director awarded 2,040 restricted stock units

Rhea-AI Filing Summary

Hill Thomas W. reported acquisition or exercise transactions in this Form 4 filing.

Knife River Corp director Thomas W. Hill received a grant of 2,040 restricted stock units (RSUs) of common stock on May 20, 2026. These RSUs vest on the day immediately prior to the company’s next annual meeting of stockholders, provided he continues serving on the board through that date. Each RSU represents the right to receive one share of Knife River common stock, and following this award Hill now holds 5,496 shares directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hill Thomas W.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,040	$0.00	--

Holdings After Transaction: Common Stock — 5,496 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSUs granted: 2,040 units Post-transaction holdings: 5,496 shares Grant price per unit: $0.00 per unit

3 metrics

RSUs granted 2,040 units Restricted stock units awarded on May 20, 2026

Post-transaction holdings 5,496 shares Total Knife River common stock directly owned after grant

Grant price per unit $0.00 per unit Compensation-related RSU award, not a market purchase

Key Terms

restricted stock units (RSUs), vest, annual meeting of stockholders, contingent right

4 terms

restricted stock units (RSUs) financial

"Represents restricted stock units (RSUs) that vest on the day immediately prior to the date of the next Knife River Corporation..."

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

vest financial

"RSUs that vest on the day immediately prior to the date of the next Knife River Corporation annual meeting of stockholders..."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

annual meeting of stockholders financial

"the next Knife River Corporation annual meeting of stockholders occurring after the date of grant..."

contingent right financial

"Each RSU represents the contingent right to receive one share of the issuer's common stock."

Form 4 Insider Transactions: What Each Field Means →

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^*

Hill Thomas W.

(Last) (First) (Middle)

1150 WEST CENTURY AVENUE

(Street)

BISMARCK NORTH DAKOTA 58503

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Knife River Corp [ KNF ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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

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

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

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	05/20/2026		A		2,040(1)	A	$0.0000	5,496	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 restricted stock units (RSUs) that vest on the day immediately prior to the date of the next Knife River Corporation (the "issuer") annual meeting of stockholders occurring after the date of grant and subject to the reporting person continuing in service on the board of directors of the issuer through such vesting date. Each RSU represents the contingent right to receive one share of the issuer's common stock.

	/s/ Karl A. Liepitz, Power of Attorney	05/21/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Knife River (KNF) director Thomas W. Hill report in this Form 4?

Thomas W. Hill reported receiving 2,040 restricted stock units of Knife River common stock as a grant. The award is part of his director compensation and increases his direct holdings to 5,496 shares after the transaction.

How many Knife River (KNF) shares did Thomas W. Hill acquire in this grant?

He acquired 2,040 restricted stock units, each representing one share of Knife River common stock. The grant was recorded at a price of $0.00 per unit, reflecting a compensation award rather than an open-market purchase.

When do Thomas W. Hill’s Knife River (KNF) RSUs vest?

The RSUs vest on the day immediately prior to the next Knife River annual meeting of stockholders after the grant date. Vesting is conditioned on Hill continuing to serve on the company’s board through that vesting date.

What is Thomas W. Hill’s total Knife River (KNF) share ownership after this Form 4?

After the RSU grant, Hill directly owns 5,496 shares of Knife River common stock. This total includes the newly awarded restricted stock units, which convert into shares upon vesting under the terms of the award.

Was this Knife River (KNF) Form 4 transaction a market purchase or sale?

No, it was not a market trade. The Form 4 reports a grant of 2,040 restricted stock units with a stated price of $0.00 per share, indicating a compensation-related award rather than an open-market buy or sell transaction.