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  4. [Form 4] NATIONAL FUEL GAS CO Insider Trading Activity

National Fuel Gas (NFG) officer discloses RSU vesting, DRIP buys and 401(k) holdings

Filing Impact
(Neutral)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

National Fuel Gas Company (NFG) officer and Controller & Chief Accounting Officer reported routine equity transactions. On October 15, 2025, the insider acquired 73 shares of common stock through a dividend reinvestment plan at $86.221 per share. On December 1, 2025, 319 restricted stock units converted into common stock on a one-for-one basis, and 163 shares were withheld and cancelled to cover taxes at a value of $82.38 per share, with no shares sold into the market. After these transactions, the insider directly owned 11,984 shares of NFG common stock and held an additional 7,408 shares indirectly through the NFG 401(k) stock fund.

Positive

  • None.

Negative

  • None.
Insider Mendel Elena G
Role Controller & Chf Acct Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 319 $0.00 --
Exercise Common Stock 319 $0.00 --
Tax Withholding Common Stock 163 $82.38 $13K
holding Common Stock -- -- --
Other Common Stock 73 $86.221 $6K
Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 12,147 shares (Direct); Common Stock — 7,408 shares (Indirect, 401K Trust)
Footnotes (1)
  1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11. Restricted stock units convert into common stock on a one-for-one basis. On December 1, 2025, the reporting person had 163 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. 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 1, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date. On December 1, 2022, the reporting person was granted 955 restricted stock units, vesting as follows: 318 on December 1, 2023, 318 on December 1, 2024, and 319 on December 1, 2025.
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*
Mendel Elena G
(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)
Controller & Chf Acct Officer
3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025
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 10/15/2025 J V 73(1) A $86.221 11,828 D
Common Stock 12/01/2025 M 319 A (2) 12,147 D
Common Stock 12/01/2025 F 163(3) D $82.38 11,984 D
Common Stock 7,408(4) 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 (2) 12/01/2025 M 319 (5) (5) Common Stock 319 $0.00 0.00 D
Explanation of Responses:
1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11.
2. Restricted stock units convert into common stock on a one-for-one basis.
3. On December 1, 2025, the reporting person had 163 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. 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 1, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.
5. On December 1, 2022, the reporting person was granted 955 restricted stock units, vesting as follows: 318 on December 1, 2023, 318 on December 1, 2024, and 319 on December 1, 2025.
Remarks:
J. P. Baetzhold, Attorney in Fact 12/03/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did NFG report in this Form 4?

The filing shows the Controller & Chief Accounting Officer of National Fuel Gas (NFG) acquired 73 shares via a dividend reinvestment plan and had 319 restricted stock units convert into common stock, with some shares withheld for taxes.

How many National Fuel Gas (NFG) shares does the insider own after these transactions?

Following the reported transactions, the insider directly owned 11,984 shares of NFG common stock and held 7,408 shares indirectly through the company’s 401(k) stock fund.

Were any National Fuel Gas (NFG) shares sold into the market?

No market sales occurred. The 163 shares shown as dispositions on December 1, 2025 were withheld and cancelled solely to cover tax obligations related to vesting restricted stock units.

What are the restricted stock units reported for NFG in this filing?

The filing notes that restricted stock units convert into NFG common stock on a one-for-one basis. On December 1, 2025, 319 units from a prior grant vested and converted to common shares.

How was the 401(k) position in NFG stock calculated in this Form 4?

The 7,408 indirect shares reflect the dollar value of the insider’s balance in the NFG stock fund under the NFG 401(k) plan as of December 1, 2025, divided by the closing price of NFG common stock on that date.

Who is the reporting person in this National Fuel Gas (NFG) Form 4?

The reporting person is an officer of National Fuel Gas Company, serving as Controller & Chief Accounting Officer, and the form is filed for one reporting person only.