National Fuel Gas Form 4: 471 DSUs granted, ownership rises
Rhea-AI Filing Summary
Rebecca Ranich, a director of National Fuel Gas Company (NFG), reported multiple insider transactions on this Form 4. On 07/15/2025 she acquired 105 shares of common stock at $89.33 through dividend reinvestment and received 98 deferred stock units (economic equivalents of common shares) valued at $88.82. On 10/01/2025 she was granted 471 deferred stock units under the company's director equity plan at $92.955. Following the 07/15 transactions she beneficially owned 16,860 shares; after 10/01 she beneficially owned 17,331 shares. The deferred stock units become payable in shares after termination of service per the company's deferred compensation plan.
Positive
- Acquired 105 common shares via dividend reinvestment at $89.33, increasing direct ownership
- Received 471 deferred stock units on 10/01/2025 under the director equity plan, supporting alignment with shareholders
- Total beneficial ownership increased to 17,331 shares after the reported transactions
Negative
- None.
Insights
Director received routine equity compensation and dividend reinvestment.
The Form 4 shows a combination of dividend reinvestment purchases and plan-based grants: 105 common shares and 569 deferred stock units total across two dates. These are standard mechanisms to align non-employee directors with shareholder interests without indicating open-market trading intentions.
The deferred stock units are described as the economic equivalent of common shares and are payable in stock after the reporting person's termination of service, which is a typical retention/compensation feature.
Transactions are material to ownership counts but routine in nature.
The reporting shows precise figures: 105 shares at $89.33 and 471 DSUs at $92.955, bringing beneficial ownership to 17,331 shares. These entries are filed under standard exemptions (Rule 16a-11) for dividend reinvestment and plan grants.
Because the Form 4 records plan-based grants and reinvestments rather than open-market purchases or sales, the activity signals compensation accrual rather than trading-driven ownership changes.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Deferred Stock Units | 471 | $92.955 | $44K |
| Other | Deferred Stock Units | 98 | $88.82 | $9K |
| Other | Common Stock | 105 | $89.33 | $9K |
Footnotes (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.
