National Fuel Gas grants Carroll 577 deferred stock units

Each deferred stock unit is economically equivalent to one common share and becomes payable in common shares after Carroll ends service as a director.

Rhea-AI Filing Summary

National Fuel Gas Company director David C. Carroll reported acquiring 214 common shares through a dividend reinvestment plan and 129 deferred stock units through the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers’ dividend-reinvestment feature on July 15, 2026. He also received a quarterly grant of 577 deferred stock units on October 1, 2026, under the 2009 Non-Employee Director Equity Compensation Plan. His directly held common-stock position after the July 15 common-share acquisition was 31,018 shares.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Carroll David C.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units F4, F3	577	$75.89	$44K
Other	Deferred Stock Units F2, F3	129	$79.99	$10K
Other	Common Stock F1	214	$79.676	$17K

Holdings After Transaction: Deferred Stock Units — 19,939 contracts (Direct); Common Stock — 31,018 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

Common shares acquired: 214 shares Deferred stock units acquired: 129 units Deferred stock units granted: 577 units +4 more

7 metrics

Common shares acquired 214 shares July 15, 2026; dividend reinvestment plan

Deferred stock units acquired 129 units July 15, 2026; dividend-reinvestment feature

Deferred stock units granted 577 units October 1, 2026; quarterly grant

Reported transaction price per share $79.6760 per share 214 common shares acquired July 15, 2026

Reported transaction price per share $79.9900 per share 129 deferred stock units acquired July 15, 2026

Reported transaction price per share $75.8900 per share 577 deferred stock units granted October 1, 2026

Common shares held after transaction 31,018 shares Direct holdings following the July 15, 2026 common-share acquisition

Key Terms

Deferred Stock Units, Rule 16a-11, dividend reinvestment plan, distribution election

4 terms

Deferred Stock Units financial

"Each deferred stock unit is the economic equivalent of one share of 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.

Rule 16a-11 regulatory

"exempt under Rule 16a-11"

dividend reinvestment plan financial

"Acquired through dividend reinvestment plan"

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.

distribution election financial

"pursuant to the reporting person's distribution election"

FAQ

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

What did NFG director David C. Carroll acquire?

David C. Carroll acquired 214 common shares through a dividend reinvestment plan and 129 deferred stock units through the directors’ and officers’ deferred compensation plan’s dividend-reinvestment feature on July 15, 2026. He also received a quarterly grant of 577 deferred stock units on October 1, 2026.

When can NFG director David C. Carroll receive his deferred stock units?

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

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/02/2026 - 03:24 PM Accepted by SEC EDGAR 10/02/2026 - 03:23 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^*

Carroll David C.

(Last) (First) (Middle)

6363 MAIN STREET

(Street)

WILLIAMSVILLE NEW YORK 14221

(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)
10/01/2026

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(1)	07/15/2026		J	V	214	A	$79.676	31,018	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
Deferred Stock Units(2)	(3)	07/15/2026		J	V	129		(3)	(3)	Common Stock	129	$79.99	19,362	D
Deferred Stock Units(4)	(3)	10/01/2026		A		577		(3)	(3)	Common Stock	577	$75.89	19,939	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	10/02/2026
	** 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)