National Fuel Gas (NFG) officer details RSU vesting and 760 deferred stock units

Rhea-AI Filing Summary

National Fuel Gas Company executive equity activity: A company officer, the President of NFG Supply Corp., reported routine equity transactions involving restricted stock units (RSUs), common stock, and deferred stock units. On December 5, 2025, 1,119 RSUs converted into common stock, with 572 shares withheld and cancelled to cover taxes at a price of $82.28 per share. On December 6, 2025, another 788 RSUs converted, with 28 shares similarly withheld and cancelled for taxes at $82.28 per share.

The reporting person also deferred receipt of 760 shares of common stock into 760 deferred stock units under the company’s deferred compensation plan, each unit economically equivalent to one share and payable in stock after termination of service. Following these transactions, the insider continued to hold common stock directly and through a 401(k) stock fund, as well as remaining RSUs and deferred stock units scheduled to vest over future 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

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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^*

Del Vecchio Joseph N

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, NFG Supply Corp.

3. Date of Earliest Transaction (Month/Day/Year)
12/05/2025

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	12/05/2025		M		1,119	A	(1)	16,589	D
Common Stock	12/05/2025		F		572(2)	D	$82.28	16,017	D
Common Stock	12/06/2025		M		788	A	(1)	16,805	D
Common Stock	12/06/2025		F		28(3)	D	$82.28	16,777	D
Common Stock	12/06/2025		D		760	D	(4)	16,017	D
Common Stock								14,523(5)	I	401K 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
Restricted Stock Units	(1)	12/05/2025		M			1,119	(6)	(6)	Common Stock	1,119	$0.00	2,240	D
Restricted Stock Units	(1)	12/06/2025		M			788	(7)	(7)	Common Stock	788	$0.00	789	D
Deferred Stock Units	(8)	12/06/2025		A		760		(9)	(9)	Common Stock	760	(4)	18,729	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. On December 5, 2025, the reporting person had 572 shares withheld and cancelled in respect of taxes in connection with the vesting of restricted stock units. These share cancellations are shown on Table I as dispositions (Transaction Code "D" in Column 4), although none of these cancelled shares were sold into the market, as indicated by Transaction Code "F" in Column 3.

3. On December 6, 2025, the reporting person had 28 shares withheld and cancelled in respect of taxes in connection with the vesting of restricted stock units. These share cancellations are shown on Table I as dispositions (Transaction Code "D" in Column 4), although none of these cancelled shares were sold into the market, as indicated by Transaction Code "F" in Column 3.

4. In connection with the vesting on December 6, 2025 of restricted stock units previously granted to the reporting person, the reporting person's receipt of 760 shares of common stock was deferred, resulting in the reporting person's receipt instead of 760 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 760 shares of common stock in exchange for an equal number of deferred stock units.

5. The NFG stock fund under the NFG 401(k) plan is denominated in units, representing ownership interests in a fund that includes both NFG common stock and a reserve of cash. The information reported represents the dollar value of the reporting person's balance in the NFG stock fund as of December 5, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.

6. On December 5, 2024, the reporting person was granted 3,359 restricted stock units, vesting as follows: 1,119 on December 5, 2025, 1,120 on December 5, 2026, and 1,120 on December 5, 2027.

7. On December 6, 2023, the reporting person was granted 2,365 restricted stock units, vesting as follows: 788 on December 6, 2024, 788 on December 6, 2025, and 789 on December 6, 2026.

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

9. The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service, pursuant to the reporting person's distribution election under National Fuel Gas Company's Deferred Compensation Plan for Directors and Officers.

Remarks:

	J. P. Baetzhold, Attorney in Fact	12/09/2025
	** Signature of Reporting Person	Date
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FAQ

What insider activity did NATIONAL FUEL GAS CO (NFG) report in this Form 4?

The filing shows an officer received common stock from vesting restricted stock units, had shares withheld and cancelled for taxes, and converted 760 shares into an equal number of deferred stock units under a deferred compensation plan.

How many National Fuel Gas (NFG) restricted stock units vested in December 2025?

On December 5, 2025, 1,119 RSUs vested and converted into common stock. On December 6, 2025, an additional 788 RSUs vested and converted into common stock.

How were taxes handled on the NFG officer’s vested shares?

The officer had 572 shares cancelled on December 5, 2025 and 28 shares cancelled on December 6, 2025 to cover taxes, both at a share price of $82.28. These were reported as dispositions but were not sold into the market.

What are the deferred stock units reported by the NFG insider?

The officer deferred 760 shares of common stock and instead received 760 deferred stock units, each economically equivalent to one share. These units become payable in common stock after the officer’s termination of service, based on their distribution election.

What role does the reporting person hold at National Fuel Gas (NFG)?

The reporting person is an officer of National Fuel Gas Company, serving as President, NFG Supply Corp., and filed the Form 4 as a single reporting person.

How is the NFG stock fund in the 401(k) plan reported in this Form 4?

The NFG stock fund in the 401(k) plan is denominated in units representing interests in a fund holding NFG common stock and cash. The reported 14,523 units reflect the officer’s balance divided by the closing NFG stock price on December 5, 2025.