NFG director granted deferred stock units, adds DRIP shares

National Fuel Gas Company director David Hugo Anderson reported routine equity compensation and dividend reinvestment activity.

Rhea-AI Filing Summary

National Fuel Gas Company director David Hugo Anderson reported routine equity compensation and dividend reinvestment activity. He received a grant of 564 Deferred Stock Units at $77.63 per unit, increasing his deferred stock unit balance to 19,233 units, each economically equivalent to one share of common stock.

The filing also records shares and units acquired through dividend reinvestment plans that are exempt under Rule 16a-11, including 108 Deferred Stock Units and 2 shares of common stock. Following these transactions, Anderson holds 5,173 shares of common stock directly and 221 shares indirectly through the Anderson Family Trust, in addition to his deferred stock units, which will be paid in common shares after his service as a director ends.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider ANDERSON DAVID HUGO

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	564	$77.63	$44K
holding	Common Stock	--	--	--
Other	Deferred Stock Units	108	$89.49	$10K
Other	Common Stock	2	$89.708	$179.42

Holdings After Transaction: Deferred Stock Units — 19,233 contracts (Direct); Common Stock — 221 shares (Indirect, By Anderson Family Trust); Common Stock — 5,173 shares (Direct)

Footnotes (4)

1. F1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11.
2. F2. Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11.
3. F3. Each deferred stock unit is the economic equivalent of one share of common stock. The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service as a director, pursuant to the reporting person's distribution election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.
4. F4. Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan, and deferred pursuant to the reporting person's election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

Key Figures

Deferred Stock Unit grant: 564 units at $77.63 Deferred Stock Units after grant: 19,233 units Direct common stock holding: 5,173 shares +3 more

6 metrics

Deferred Stock Unit grant 564 units at $77.63 Grant of Deferred Stock Units to director

Deferred Stock Units after grant 19,233 units Total Deferred Stock Units following 564-unit grant

Direct common stock holding 5,173 shares Common Stock held directly after reported activity

Indirect common stock holding 221 shares Common Stock held indirectly via Anderson Family Trust

Other DSU transaction 108 units at $89.49 Deferred Stock Units from other transaction code J

Trust common stock transaction 2 shares at $89.708 Common Stock held by Anderson Family Trust under code J

Key Terms

Deferred Stock Units, dividend reinvestment plan, Rule 16a-11, National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, +1 more

5 terms

Deferred Stock Units financial

"The filing reports grants and acquisitions of Deferred Stock Units linked to common stock."

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

dividend reinvestment plan financial

"Acquired through dividend reinvestment plan, exempt under Rule 16a-11."

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

Rule 16a-11 regulatory

"Acquired through dividend reinvestment plan, exempt under Rule 16a-11."

National Fuel Gas Company Deferred Compensation Plan for Directors and Officers financial

"Units were acquired or deferred under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers."

National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan financial

"Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NFG director David Hugo Anderson report in this Form 4 filing?

David Hugo Anderson reported routine equity-related activity, including a grant of Deferred Stock Units and additional shares from dividend reinvestment plans. These are compensation and reinvestment transactions, not open-market stock purchases or sales.

How many Deferred Stock Units does David Hugo Anderson hold at National Fuel Gas (NFG)?

After the reported transactions, David Hugo Anderson holds 19,233 Deferred Stock Units. Each unit is the economic equivalent of one share of common stock and will be settled in shares after his service as a director ends.

Were there any open-market buys or sells by David Hugo Anderson in this NFG Form 4?

No open-market buys or sells were reported. The Form 4 shows a grant of Deferred Stock Units and additional units and shares acquired through dividend reinvestment and compensation plans, which are routine and exempt under Rule 16a-11.

How many NFG common shares does David Hugo Anderson own directly and indirectly?

Following the transactions, David Hugo Anderson holds 5,173 shares of National Fuel Gas common stock directly and 221 shares indirectly through the Anderson Family Trust, as disclosed in the ownership details of the filing.

What is the value per unit of the new Deferred Stock Units granted to the NFG director?

The new grant to David Hugo Anderson consists of 564 Deferred Stock Units at $77.63 per unit. These units are part of National Fuel Gas’s non-employee director equity compensation and deferred compensation plans.

How are NFG Deferred Stock Units for directors ultimately settled?

Each Deferred Stock Unit is the economic equivalent of one share of National Fuel Gas common stock. Units become payable in shares of common stock after the director’s termination of service, according to the director’s distribution election under the deferred compensation plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 04:13 PM Learn about SEC filing dates

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^*

ANDERSON DAVID HUGO

(Last) (First) (Middle)

1870 TWIN POINTS RD

(Street)

LAKE OSWEGO OREGON 97034

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NATIONAL FUEL GAS CO [ NFG ]

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)
07/01/2026

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								5,173	D
Common Stock(1)	04/15/2026		J	V	2	A	$89.708	221	I	By Anderson Family Trust

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
Deferred Stock Units(2)	(3)	04/15/2026		J	V	108		(3)	(3)	Common Stock	108	$89.49	18,669	D
Deferred Stock Units(4)	(3)	07/01/2026		A		564		(3)	(3)	Common Stock	564	$77.63	19,233	D

Explanation of Responses:

1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11.

2. Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11.

3. Each deferred stock unit is the economic equivalent of one share of common stock. The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service as a director, pursuant to the reporting person's distribution election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

4. Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan, and deferred pursuant to the reporting person's election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

Remarks:

	J. P. Baetzhold, Attorney in Fact	07/02/2026
	** 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)