National Fuel Gas (NFG) director receives 541-share quarterly equity grant

Rhea-AI Filing Summary

National Fuel Gas Company reported an insider stock transaction by one of its directors. On 01/02/2026, the director acquired 541 shares of National Fuel Gas common stock through a quarterly grant under the company’s 2009 Non-Employee Director Equity Compensation Plan, at a price of $80.945 per share.

Following this grant, the director now beneficially owns 21,290 shares of National Fuel Gas common stock, held as a direct ownership position. This is a routine equity compensation grant for a non-employee director, reflecting part of the director’s compensation in company stock rather than cash.

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).

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^*

BAUMANN BARBARA M

(Last) (First) (Middle)

6363 MAIN STREET

(Street)

WILLIAMSVILLE NY 14221

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

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(1)	01/02/2026		A		541	A	$80.945	21,290	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. Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan.

Remarks:

	J. P. Baetzhold, Attorney in Fact	01/06/2026
	** 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).
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FAQ

What insider transaction did NATIONAL FUEL GAS CO (NFG) report in this filing?

The company reported that a director acquired 541 shares of National Fuel Gas common stock on 01/02/2026 through a quarterly equity grant.

At what price were the new NFG shares acquired by the director?

The 541 shares of National Fuel Gas common stock were acquired at a price of $80.945 per share.

How many NATIONAL FUEL GAS CO (NFG) shares does the director own after the transaction?

After the reported transaction, the director beneficially owns 21,290 shares of National Fuel Gas common stock in a direct ownership position.

What is the source of the NFG shares acquired in this insider transaction?

The 541 shares were acquired through a quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan.

What is the relationship of the reporting person to NATIONAL FUEL GAS CO (NFG)?

The reporting person is a director of National Fuel Gas Company and filed this transaction as a single reporting person.

Is this NFG insider transaction a purchase on the open market or part of a compensation plan?

The transaction is part of a quarterly equity compensation grant under the company’s 2009 Non-Employee Director Equity Compensation Plan, not an open-market purchase.