NFG Director Jaggers Acquires 471 Shares at $92.955 Under Director Plan

Rhea-AI Filing Summary

Joseph N. Jaggers, a director of National Fuel Gas Company (NFG), reported acquiring 471 shares of the issuer's common stock on 10/01/2025 through the companys quarterly grant under the 2009 Non-Employee Director Equity Compensation Plan. The shares were acquired at a reported per-share price of $92.955. After the transaction Mr. Jaggers beneficially owned 32,940 shares, held directly. The Form 4 was signed by an attorney-in-fact on 10/02/2025. The filing indicates a routine, compensatory equity award to a director and does not disclose any derivatives or disposals.

Positive

• 471 shares acquired under the 2009 Non-Employee Director Equity Compensation Plan
• Direct beneficial ownership increased to 32,940 shares, showing alignment with shareholders

Negative

• None.

Insights

Corporate Governance Analyst

Director received standard equity grant of 471 shares under non-employee plan.

The Form 4 shows a director-level acquisition tied to the 2009 Non-Employee Director Equity Compensation Plan, which is a routine mechanism to align non-employee directors with shareholder interests.

The grant size (471 shares) and resulting 32,940 beneficially owned shares are disclosed; ownership is listed as direct, indicating no indirect holdings or special vehicles were used.

Insider Transactions Specialist

Transaction is an acquisition at a listed price of $92.955 per share on 10/01/2025.

The filing records an acquisition code A and a per-share price of $92.955, which is consistent with a compensatory grant rather than a market purchase.

The report was executed by an attorney-in-fact on 10/02/2025, and no derivative instruments or dispositions are reported in this Form 4.

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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

JAGGERS JOSEPH N

(Last) (First) (Middle)

6363 MAIN ST

(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)
10/01/2025

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(1)	10/01/2025		A		471	A	$92.955	32,940	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

Explanation of Responses:

1. Acquired through quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan.

Remarks:

	J. P. Baetzhold, Attorney in Fact	10/02/2025
	** 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.
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FAQ

What did National Fuel Gas (NFG) director Joseph Jaggers report on the Form 4?

He acquired 471 shares of NFG common stock on 10/01/2025 under the company's 2009 Non-Employee Director Equity Compensation Plan at $92.955 per share.

How many NFG shares does Joseph Jaggers beneficially own after the transaction?

After the reported acquisition Mr. Jaggers beneficially owned 32,940 shares, held directly.

Was the Form 4 transaction a purchase or a compensatory grant?

The filing lists transaction code A and the explanation states the shares were acquired through the quarterly grant under the 2009 Non-Employee Director Equity Compensation Plan, indicating a compensatory grant.

Does the Form 4 report any derivative transactions or disposals by the director?

No. Table II shows no derivative securities and Table I reports only the acquisition; there are no disposals reported.

Who signed the Form 4 and when was it signed?

The Form 4 was executed by J. P. Baetzhold, Attorney in Fact and dated 10/02/2025.