Knife River (KNF) CEO awarded 20,955 RSUs vesting in 2028

Rhea-AI Filing Summary

Knife River Corp President & CEO Brian R. Gray received an equity award. He acquired 20,955 restricted stock units that each represent the contingent right to receive one share of Knife River common stock. These RSUs vest on December 31, 2028, if he remains employed by the company through that date.

After the award, Gray directly holds 84,747 shares of common stock. The filing also reports 8,164.6823 shares of common stock held indirectly in a 401(k) plan by a trustee, with the share count able to fluctuate daily based on plan activity.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Gray Brian R.

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	20,955	$0.00	--
holding	Common Stock - 401(k)	--	--	--

Holdings After Transaction: Common Stock — 84,747 shares (Direct); Common Stock - 401(k) — 8,164.682 shares (Indirect, By Trustee)

Footnotes (1)

1. Represents restricted stock units (RSUs) that vest on December 31, 2028, provided that the reporting person remains employed by the issuer as of the vesting date. Each RSU represents the contingent right to receive one share of the issuer's common stock. As of the most recent quarter end, the number of shares may fluctuate daily depending on plan activity in the fund.

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^*

Gray Brian R.

(Last) (First) (Middle)

1150 WEST CENTURY AVENUE

(Street)

BISMARCK ND 58503

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

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	03/06/2026		A		20,955(1)	A	$0.0000	84,747	D
Common Stock - 401(k)(2)								8,164.6823	I	By Trustee

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 December 31, 2028, provided that the reporting person remains employed by the issuer as of the vesting date. Each RSU represents the contingent right to receive one share of the issuer's common stock.

2. As of the most recent quarter end, the number of shares may fluctuate daily depending on plan activity in the fund.

	/s/ Karl A. Liepitz, Power of Attorney	03/09/2026
	** 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 Knife River (KNF) CEO Brian R. Gray report in this Form 4?

Brian R. Gray reported an equity award of 20,955 restricted stock units. These RSUs each represent the contingent right to receive one share of Knife River common stock, subject to vesting conditions tied to his continued employment with the company.

How many restricted stock units did Knife River (KNF) grant to its CEO?

Knife River granted Brian R. Gray 20,955 restricted stock units. Each RSU corresponds to one share of common stock and will only be delivered if the vesting conditions, including his continued employment through the vesting date, are satisfied.

When do Brian R. Gray’s Knife River (KNF) RSUs vest?

The 20,955 restricted stock units granted to Brian R. Gray vest on December 31, 2028. Vesting requires that he remain employed by Knife River through that date before shares of common stock become deliverable under the award.

How many Knife River (KNF) shares does Brian R. Gray hold after this award?

Following the RSU grant, Brian R. Gray directly holds 84,747 shares of Knife River common stock. The Form 4 also shows an additional 8,164.6823 shares held indirectly in a 401(k) plan by a trustee, with amounts subject to daily plan activity.

What does the Form 4 say about Brian R. Gray’s Knife River (KNF) 401(k) holdings?

The Form 4 reports 8,164.6823 Knife River shares held in a 401(k) plan by a trustee. It notes that this share amount can fluctuate daily as participants direct investments and other plan-related transactions occur within the fund.