[Form 4] MDU RESOURCES GROUP INC Insider Trading Activity

Rhea-AI Filing Summary

Marian M. Durkin, a director of MDU Resources Group Inc (MDU), received 182 shares of the issuer's common stock on 09/30/2025 as part of the company director compensation program in which the reporting person elected stock in lieu of a cash retainer. The transaction is recorded at a $0.00 per-share price, and following the issuance the reporting person beneficially owns 3,929 shares. The Form 4 was signed by Attorney-in-Fact Anthony D. Foti on 10/01/2025.

Positive

• Director received equity compensation: 182 shares issued on 09/30/2025 under the issuer's director compensation policy
• Disclosure complete: Form 4 filed and signed by Attorney-in-Fact Anthony D. Foti on 10/01/2025
• Post-transaction ownership stated: Reporting person beneficially owns 3,929 shares following the issuance

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation election; no unusual insider trading or large shift in ownership.

The filing documents a standard director election to receive equity in lieu of cash, resulting in 182 shares issued and total beneficial ownership of 3,929 shares. The record shows a $0.00 per-share price consistent with a compensation issuance rather than an open-market purchase. The filing was executed by an attorney-in-fact, which is common for administrative filings. Based solely on the information provided, this is a routine governance/compensation disclosure without material red flags.

Securities Analyst

TL;DR: Small, non-market transaction for director compensation; immaterial to company valuation.

The transaction code indicates an acquisition under a director compensation policy. The 182-share issuance and resulting ownership of 3,929 shares are modest in scale and recorded at $0.00 per share reflecting compensation treatment. There is no evidence in the filing of derivative transactions, sales, or significant ownership change. From a securities-disclosure perspective this is a routine Form 4 report with limited investor impact.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DURKIN MARIAN M

(Last) (First) (Middle)

1200 WEST CENTURY AVENUE

(Street)

BISMARCK ND 58503

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MDU RESOURCES GROUP INC [ MDU ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		A(1)		182	A	$0.0000	3,929	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. Pursuant to the issuer's director compensation policy, the reporting person elected to receive common stock in lieu of the cash compensation retainer for service on the issuer's board of directors.

	Anthony D. Foti, Attorney-in-Fact for Marian M. Durkin	10/01/2025
	** 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 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 transaction did Marian M. Durkin report on Form 4 for MDU?

The Form 4 reports an acquisition of 182 shares of MDU common stock on 09/30/2025 as director compensation.

What was the price per share for the reported transaction on the Form 4?

The transaction is recorded at a $0.00 per-share price, reflecting issuance as compensation rather than a market purchase.

How many MDU shares does the reporting person own after this transaction?

Following the reported transaction the reporting person beneficially owns 3,929 shares.

Who signed the Form 4 for Marian M. Durkin and when?

The Form 4 was signed by Attorney-in-Fact Anthony D. Foti on 10/01/2025.

Was the reported transaction a sale or an issuance?

The transaction code indicates an acquisition (issuance) of shares under the issuer's director compensation policy.