NFG insider Silverstein discloses vesting withholding and 401(k) holdings
Rhea-AI Filing Summary
NATIONAL FUEL GAS Co. insider Timothy J. Silverstein reported changes to his beneficial ownership on Form 4 covering transactions dated 09/10/2025. He acquired 214 shares of common stock at no cash cost (reported as A, $0.00) and had 110 shares cancelled/withheld in connection with taxes on vesting performance shares (reported as dispositions). Following these transactions he beneficially owns 5,843 shares directly and an indirect interest equivalent to 4,763 shares through the NFG 401(k) stock fund, as calculated by the plan administrator using the closing stock price on that date.
Positive
- Full disclosure of tax-related withholding: the filing explains that 110 shares were cancelled to satisfy taxes on vested performance shares
- Post-transaction ownership stated: direct beneficial ownership of 5,843 shares and an indirect 4,763-share equivalent via the 401(k) fund
Negative
- None.
Insights
TL;DR: Insider activity shows routine vesting-related withholding and a small acquisition; impact appears immaterial to valuation.
The filing documents a standard administrative outcome: performance shares vested and 110 shares were withheld and cancelled to satisfy tax obligations while the reporting person received 214 shares at no cash cost, likely from an award distribution. Post-transaction direct ownership is 5,843 shares with an additional 4,763-share equivalent held indirectly via the 401(k) plan. There is no evidence of open-market sales or other material transfers.
TL;DR: Filing reflects routine executive compensation mechanics; disclosures are clear and include plan-based indirect holdings.
The report appropriately discloses the nature of the dispositions, noting withheld shares for taxes on vested performance awards and clarifying that cancellations were not market sales. It also explains the method for reporting the 401(k) stock fund balance as a share-equivalent value. Documentation includes a Power of Attorney exhibit and a signed filing representative, indicating procedural completeness.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 214 | $0.00 | -- |
| Tax Withholding | Common Stock | 110 | $86.515 | $10K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- On September 10, 2025, the reporting person had 110 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. 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 September 10, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.
