NFG (NFG) director Jeffrey Shaw receives 469-share equity grant at $93.29

Rhea-AI Filing Summary

SHAW JEFFREY W reported acquisition or exercise transactions in this Form 4 filing.

National Fuel Gas Company director Jeffrey W. Shaw received 469 shares of Common Stock as a grant on April 1, 2026, at a price of $93.29 per share. The award was made under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan.

Following this grant, Shaw directly owns 36,234 Common Stock shares. He also has an additional 100 shares held indirectly by trust, reflecting a separate indirect ownership position reported in the filing.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider SHAW JEFFREY W

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	469	$93.29	$44K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 36,234 shares (Direct); Common Stock — 100 shares (Indirect, By trust)

Footnotes (1)

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Key Figures

Director share grant: 469 shares Grant price: $93.29 per share Direct holdings after grant: 36,234 shares +1 more

4 metrics

Director share grant 469 shares Common Stock grant on April 1, 2026

Grant price $93.29 per share Director equity award under 2009 plan

Direct holdings after grant 36,234 shares Common Stock held directly by Jeffrey W. Shaw

Indirect trust holdings 100 shares Common Stock held indirectly by trust

Key Terms

Non-Employee Director Equity Compensation Plan, indirect ownership, Common Stock, Grant, award, or other acquisition

4 terms

Non-Employee Director Equity Compensation Plan financial

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

indirect ownership financial

"total_shares_following_transaction: 100.0000, direct_or_indirect: I, nature_of_ownership: By trust"

Common Stock financial

"security_title: Common Stock, transaction_shares: 469.0000"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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^*

SHAW JEFFREY W

(Last) (First) (Middle)

6363 MAIN ST

(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)
04/01/2026

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)	04/01/2026		A		469	A	$93.29	36,234	D
Common Stock								100	I	By 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

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	04/02/2026
	** 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)

FAQ

What insider transaction did NFG director Jeffrey W. Shaw report on this Form 4?

Jeffrey W. Shaw reported receiving 469 shares of National Fuel Gas Common Stock as a grant. The shares were awarded on April 1, 2026, under the company’s 2009 Non-Employee Director Equity Compensation Plan, reflecting routine equity-based director compensation rather than an open-market purchase.

At what price per share was Jeffrey W. Shaw’s NFG stock grant recorded?

The grant to Jeffrey W. Shaw was recorded at $93.29 per share for 469 shares. This figure represents the grant or award price used for the equity compensation entry, not the result of an open-market buy or sell transaction by the director.

How many NFG shares does Jeffrey W. Shaw hold after this reported grant?

After the April 1, 2026 grant, Jeffrey W. Shaw holds 36,234 shares of National Fuel Gas Common Stock directly. The filing also lists an additional 100 shares held indirectly by trust, indicating a small separate indirect ownership position alongside his direct holdings.

Is Jeffrey W. Shaw’s NFG stock position held directly or through other entities?

Jeffrey W. Shaw’s primary position of 36,234 National Fuel Gas shares is held directly in his name. The Form 4 additionally reports 100 shares held indirectly “By trust,” indicating a separate small holding through a trust entity associated with him.

Was the NFG Form 4 transaction a market purchase or a compensation grant?

The NFG Form 4 shows a compensation grant, not a market purchase. Code A indicates an award or other acquisition, and the footnote specifies the 469 shares were acquired through a quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan.