National Fuel Gas (NFG) director adds shares and deferred stock units

Rhea-AI Filing Summary

National Fuel Gas Company director reports routine equity awards and reinvestments. A director of National Fuel Gas Company (NFG) reported acquiring 109 shares of common stock on 10/15/2025 at $86.221 per share through a dividend reinvestment plan, bringing direct holdings of common stock to 17,803 shares.

The filing also shows activity in deferred stock units tied to common stock. On 10/15/2025, the director acquired 105 deferred stock units through the dividend reinvestment feature of the company’s Deferred Compensation Plan for Directors and Officers, and on 01/02/2026 received a quarterly grant of 541 deferred stock units under the 2009 Non-Employee Director Equity Compensation Plan, which was deferred under the same plan. After these transactions, the director holds 17,977 deferred stock units, each economically equivalent to one share of common stock and payable in shares after the director’s service ends.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Ranich Rebecca

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	541	$80.945	$44K
Other	Deferred Stock Units	105	$86.21	$9K
Other	Common Stock	109	$86.221	$9K

Holdings After Transaction: Deferred Stock Units — 17,977 shares (Direct); Common Stock — 17,803 shares (Direct)

Footnotes (1)

1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11. Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11. Each deferred stock unit is the economic equivalent of one share of common stock. The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service as a director, pursuant to the reporting person's distribution election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers. Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan, and deferred pursuant to the reporting person's election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

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^*

Ranich Rebecca

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026

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(1)	10/15/2025		J	V	109	A	$86.221	17,803	D

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
Deferred Stock Units(2)	(3)	10/15/2025		J	V	105		(3)	(3)	Common Stock	105	$86.21	17,436	D
Deferred Stock Units(4)	(3)	01/02/2026		A		541		(3)	(3)	Common Stock	541	$80.945	17,977	D

Explanation of Responses:

1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11.

2. Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11.

3. Each deferred stock unit is the economic equivalent of one share of common stock. The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service as a director, pursuant to the reporting person's distribution election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

4. Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan, and deferred pursuant to the reporting person's election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

Remarks:

	J. P. Baetzhold, Attorney in Fact	01/06/2026
	** 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.

FAQ

What insider transactions were reported for National Fuel Gas (NFG)?

The filing reports that a director of National Fuel Gas Company acquired 109 shares of common stock on 10/15/2025 and multiple grants of deferred stock units tied to the company’s common stock.

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

Following the reported dividend reinvestment on 10/15/2025, the director beneficially owns 17,803 shares of National Fuel Gas common stock directly.

What deferred stock unit awards were reported for the National Fuel Gas director?

The director acquired 105 deferred stock units on 10/15/2025 through a dividend reinvestment feature and 541 deferred stock units on 01/02/2026 through a quarterly grant under the 2009 Non-Employee Director Equity Compensation Plan.

How many deferred stock units does the National Fuel Gas director hold after the reported transactions?

After the reported transactions, the director beneficially owns 17,977 deferred stock units, each economically equivalent to one share of National Fuel Gas common stock.

What is a deferred stock unit in the context of National Fuel Gas (NFG)?

Each deferred stock unit is described as the economic equivalent of one share of common stock. The units become payable in shares of common stock after the director’s termination of service, according to the director’s distribution election under the Deferred Compensation Plan for Directors and Officers.

Were the National Fuel Gas director’s acquisitions exempt under any SEC rule?

Yes. The common stock acquired on 10/15/2025 and the 105 deferred stock units from that date were acquired through dividend reinvestment programs that are stated to be exempt under Rule 16a-11.

What plans govern the director’s equity awards at National Fuel Gas?

The reported transactions reference the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers and the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan as the governing plans for the dividend reinvestments and quarterly equity grants.