National Fuel Gas (NYSE: NFG) CFO reports stock grants and 7,416 RSUs

Rhea-AI Filing Summary

National Fuel Gas Company reported insider equity activity by its Treasurer and CFO for December 4, 2025. The officer acquired 657 shares of common stock and 1,055 additional shares at a price of $0.00, reflecting equity awards rather than open-market purchases. On the same date, 336 shares and 539 shares were withheld and cancelled at $82.01 per share to cover taxes tied to the vesting of performance shares, and these were not sold into the market.

Following these transactions, the officer held 6,711 shares of common stock directly and had an indirect interest equivalent to 4,853 shares through a 401(k) stock fund. Separately, the officer was granted 7,416 restricted stock units, each representing a contingent right to one share of common stock, vesting in three equal installments on December 4 of 2026, 2027, and 2028.

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^*

Silverstein Timothy J

(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)
	Treasurer & CFO

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

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	12/04/2025		A		657	A	$0.00	6,531	D
Common Stock	12/04/2025		F		336(1)	D	$82.01	6,195	D
Common Stock	12/04/2025		A		1,055	A	$0.00	7,250	D
Common Stock	12/04/2025		F		539(2)	D	$82.01	6,711	D
Common Stock								4,853(3)	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	(4)	12/04/2025		A		7,416		(5)	(5)	Common Stock	7,416	$0.00	7,416	D

Explanation of Responses:

1. On December 4, 2025, the reporting person had 336 shares withheld and cancelled in respect of taxes in connection with the vesting of performance shares. 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.

2. On December 4, 2025, the reporting person had 539 shares withheld and cancelled in respect of taxes in connection with the vesting of performance shares. 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. 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 4, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.

4. Each restricted stock unit represents a contingent right to receive one share of NFG common stock.

5. On December 4, 2025, the reporting person was granted 7,416 restricted stock units, vesting as follows: 2,472 on December 4, 2026, 2,472 on December 4, 2027, and 2,472 on December 4, 2028.

Remarks:

	J. P. Baetzhold, Attorney in Fact	12/08/2025
	** 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.

FAQ

What insider transaction did NFG report for its Treasurer and CFO?

The Treasurer and CFO of National Fuel Gas Company (NFG) reported equity award activity on December 4, 2025, including stock granted, tax-related share cancellations, and a new restricted stock unit grant.

How many National Fuel Gas (NFG) shares does the officer own after the reported transactions?

After the reported activity, the officer held 6,711 shares of NFG common stock directly and an indirect interest equivalent to 4,853 shares through a 401(k) stock fund, plus 7,416 restricted stock units reported separately.

What restricted stock units were granted to the NFG officer on December 4, 2025?

On December 4, 2025, the officer received 7,416 restricted stock units, each representing a contingent right to one NFG share, vesting in three installments of 2,472 units on December 4, 2026, 2027, and 2028.

Were any National Fuel Gas (NFG) shares sold into the market in this Form 4?

The filing states that 336 shares and 539 shares were withheld and cancelled for taxes in connection with vesting performance shares, and clarifies that none of these cancelled shares were sold into the market.

What prices are associated with the NFG insider transactions on this Form 4?

Shares acquired in connection with equity awards are shown at $0.00, while the tax-related share cancellations tied to vesting performance shares are shown at $82.01 per share.

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

The reporting person is identified as an officer of National Fuel Gas Company, serving as Treasurer & CFO.