National Fuel Gas CFO granted 216 shares

NFG’s Treasurer & CFO received a small stock grant while shares were withheld for taxes tied to performance share vesting.

Rhea-AI Filing Summary

NATIONAL FUEL GAS CO (NFG) reported that Treasurer & CFO Timothy J. Silverstein received a grant of 216 shares of Common Stock on September 16, 2026, at no cash cost to him. On the same date, 111 shares were withheld and cancelled at $81.515 per share to satisfy tax liabilities arising from the vesting of performance shares; these shares were not sold into the market. Silverstein also reports 5,234 shares of NFG common stock held indirectly through a 401(k) Trust stock fund. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Silverstein Timothy J

Role Treasurer & CFO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	216	$0.00	$0.00
Tax Withholding	Common Stock F1	111	$81.515	$9K
holding	Common Stock F2	--	--	--

Holdings After Transaction: Common Stock — 8,177 shares (Direct); Common Stock — 5,234 shares (Indirect, 401K Trust)

Footnotes (2)

1. F1. On September 16, 2026, the reporting person had 111 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. F2. 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 16, 2026, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.

Key Figures

Stock grant: 216 shares of Common Stock Shares withheld for taxes: 111 shares at $81.515 per share Indirect holdings via 401(k) Trust: 5,234 shares of Common Stock +1 more

4 metrics

Stock grant 216 shares of Common Stock Grant or award to Treasurer & CFO on September 16, 2026

Shares withheld for taxes 111 shares at $81.515 per share Shares withheld and cancelled for tax liability on September 16, 2026

Indirect holdings via 401(k) Trust 5,234 shares of Common Stock Balance in NFG stock fund under NFG 401(k) plan as of September 16, 2026

Net buy/sell shares 0 shares Transaction summary shows neutral net buy/sell across reported transactions

Key Terms

performance shares, withheld and cancelled, 401(k) plan, stock fund

4 terms

performance shares financial

"in respect of taxes in connection with the vesting of performance shares"

Performance shares are a type of company stock given to executives or employees that only become theirs if the company meets specific goals, like hitting certain profits or growth targets. They motivate leaders to work toward the company’s success, because their additional shares depend on achieving these results.

withheld and cancelled financial

"had 111 shares withheld and cancelled in respect of taxes"

401(k) plan financial

"The NFG stock fund under the NFG 401(k) plan is denominated in units"

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

stock fund financial

"ownership interests in a fund that includes both NFG common stock and a reserve of cash"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NFG’s Treasurer & CFO acquire in this Form 4 filing for NFG?

The Treasurer & CFO, Timothy J. Silverstein, received 216 shares of NFG Common Stock on September 16, 2026, as a grant or award at no cash price per share reported for him.

Why were 111 NFG shares disposed of in this Form 4?

On September 16, 2026, 111 NFG shares were withheld and cancelled at $81.515 per share to cover taxes related to the vesting of performance shares. The company states none of these cancelled shares were sold into the market.

Were the NFG Form 4 transactions made under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as an affirmative plan, and the footnotes do not indicate that the reported transactions were executed under a Rule 10b5-1 trading plan.

How many NFG shares does the CFO report holding indirectly after these transactions?

After the reported transactions, Timothy J. Silverstein reports 5,234 shares of NFG Common Stock held indirectly through a 401(k) Trust stock fund as of September 16, 2026.

How is the NFG 401(k) stock fund position calculated in this Form 4 for NFG?

The NFG 401(k) stock fund is denominated in units, holding NFG stock and cash. The reported 5,234 shares are derived by dividing the dollar value of the CFO’s fund balance by the closing price of NFG stock on September 16, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 06:22 PM Accepted by SEC EDGAR 09/17/2026 - 06:22 PM Learn about SEC filing 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

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^*

Silverstein Timothy J

(Last) (First) (Middle)

6363 MAIN STREET

(Street)

WILLIAMSVILLE NEW YORK 14221

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	09/16/2026		A		216	A	$0.00	8,288	D
Common Stock	09/16/2026		F		111(1)	D	$81.515	8,177	D
Common Stock								5,234(2)	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

Explanation of Responses:

1. On September 16, 2026, the reporting person had 111 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. 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 16, 2026, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.

Remarks:

	J. P. Baetzhold, Attorney in Fact	09/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)