Knife River (KNF) legal chief awarded 4,611 restricted stock units in Form 4

Rhea-AI Filing Summary

Knife River Corp executive Karl A. Liepitz, VP, Chief Legal Officer & Secretary, reported an equity award and updated holdings. He acquired 4,611 shares of common stock on March 4, 2026 through a grant classified as restricted stock units (RSUs) at a stated price of $0.00 per share, increasing his directly held common stock to 44,312 shares after the award.

The RSUs vest on December 31, 2028, provided he remains employed by the company on that date, and each RSU represents the right to receive one share of common stock. In addition, he reported indirect ownership of 1,896.8482 shares of common stock held in a 401(k) plan by a trustee, with the amount subject to daily fluctuation based on plan activity.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Liepitz Karl A

Role VP, Chief Legal Officer & Sec.

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	4,611	$0.00	--
holding	Common Stock - 401(k)	--	--	--

Holdings After Transaction: Common Stock — 44,312 shares (Direct); Common Stock - 401(k) — 1,896.848 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^*

Liepitz Karl A

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP, Chief Legal Officer & Sec.

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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	03/04/2026		A		4,611(1)	A	$0.0000	44,312	D
Common Stock - 401(k)(2)								1,896.8482	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	03/05/2026
	** 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 insider transaction did Knife River (KNF) report for Karl A. Liepitz?

Knife River reported that Karl A. Liepitz received a grant of 4,611 restricted stock units on March 4, 2026. These RSUs are tied to the company’s common stock and increased his directly held shares to 44,312 after the transaction.

When do Karl A. Liepitz’s Knife River (KNF) RSUs vest?

The 4,611 restricted stock units granted to Karl A. Liepitz vest on December 31, 2028, if he remains employed by Knife River through that date. Each unit represents the contingent right to receive one share of common stock at vesting.

How many Knife River (KNF) shares does Karl A. Liepitz hold after this Form 4?

After the reported grant, Karl A. Liepitz directly holds 44,312 shares of Knife River common stock. He also has an indirect interest in 1,896.8482 shares through a 401(k) plan, where the share count may fluctuate based on plan activity.

What is the nature of the Knife River (KNF) equity award to Karl A. Liepitz?

The award to Karl A. Liepitz consists of 4,611 restricted stock units, each tied to one share of Knife River common stock. The units were granted at a stated price of $0.00 per share and are subject to time-based vesting conditions tied to continued employment.

How are Karl A. Liepitz’s Knife River (KNF) 401(k) shares reported?

Karl A. Liepitz’s 401(k) holdings are reported as 1,896.8482 shares of Knife River common stock held indirectly by a trustee. The filing notes this number can change daily, reflecting ongoing plan activity within the relevant investment fund.