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National Fuel Gas (NFG) CIO details RSU vesting, dividend reinvestment and DSU holdings

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

National Fuel Gas Company reported insider equity transactions by its Chief Information Officer. On October 15, 2025, the officer acquired 25 shares of common stock through a dividend reinvestment plan at $86.221 per share, and 119 deferred stock units through a similar dividend reinvestment feature. On December 1, 2025, 644 restricted stock units vested and converted into an equal number of common shares, which were simultaneously exchanged for 644 deferred stock units under the company’s deferred compensation plan. Following these transactions, the officer directly held 4,083 shares of common stock and indirectly held 62 units in the 401(k) stock fund, along with 19,944 deferred stock units that are economically equivalent to common shares and payable in stock after service ends.

Positive

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Negative

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Insider Krebs Martin A
Role Chief Information Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 644 $0.00 --
Grant/Award Deferred Stock Units 644 $0.00 --
Exercise Common Stock 644 $0.00 --
Disposition Common Stock 644 $0.00 --
holding Common Stock -- -- --
Other Deferred Stock Units 119 $86.21 $10K
Other Common Stock 25 $86.221 $2K
Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Deferred Stock Units — 19,944 shares (Direct); Common Stock — 4,727 shares (Direct); Common Stock — 62 shares (Indirect, 401K Trust)
Footnotes (1)
  1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11. Restricted stock units convert into common stock on a one-for-one basis. In connection with the vesting on December 1, 2025 of restricted stock units previously granted to the reporting person, the reporting person's receipt of 644 shares of common stock was deferred, resulting in the reporting person's receipt instead of 644 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 644 shares of common stock in exchange for an equal number of deferred stock units. 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 December 1, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date. 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, pursuant to the reporting person's distribution election under National Fuel Gas Company's Deferred Compensation Plan for Directors and Officers. On December 1, 2022, the reporting person was granted 1,932 restricted stock units, vesting as follows: 644 on December 1, 2023, 644 on December 1, 2024, and 644 on December 1, 2025.
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*
Krebs Martin A
(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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Information Officer
3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025
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 10/15/2025 J V 25(1) A $86.221 4,083 D
Common Stock 12/01/2025 M 644 A (2) 4,727 D
Common Stock 12/01/2025 D 644 D (3) 4,083 D
Common Stock 62(4) 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
Deferred Stock Units(5) (6) 10/15/2025 J V 119 (7) (7) Common Stock 119 $86.21 19,300 D
Restricted Stock Units (2) 12/01/2025 M 644 (8) (8) Common Stock 644 $0.00 0.00 D
Deferred Stock Units (6) 12/01/2025 A 644 (7) (7) Common Stock 644 (3) 19,944 D
Explanation of Responses:
1. Acquired through dividend reinvestment plan, exempt under Rule 16a-11.
2. Restricted stock units convert into common stock on a one-for-one basis.
3. In connection with the vesting on December 1, 2025 of restricted stock units previously granted to the reporting person, the reporting person's receipt of 644 shares of common stock was deferred, resulting in the reporting person's receipt instead of 644 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 644 shares of common stock in exchange for an equal number of deferred stock units.
4. 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 December 1, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.
5. Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11.
6. Each deferred stock unit is the economic equivalent of one share of common stock.
7. The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service, pursuant to the reporting person's distribution election under National Fuel Gas Company's Deferred Compensation Plan for Directors and Officers.
8. On December 1, 2022, the reporting person was granted 1,932 restricted stock units, vesting as follows: 644 on December 1, 2023, 644 on December 1, 2024, and 644 on December 1, 2025.
Remarks:
J. P. Baetzhold, Attorney in Fact 12/03/2025
** 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.
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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did NATIONAL FUEL GAS CO (NFG) disclose in this Form 4?

The Chief Information Officer reported routine equity transactions, including dividend reinvestment purchases, vesting of 644 restricted stock units, and an exchange of those shares into 644 deferred stock units under a deferred compensation plan.

How many NATIONAL FUEL GAS CO (NFG) shares does the reporting officer own after these transactions?

After the reported transactions, the officer directly owned 4,083 shares of NFG common stock, plus an indirect interest equivalent to 62 units in the company’s 401(k) stock fund.

What are deferred stock units in the NATIONAL FUEL GAS CO (NFG) filing?

The filing states that each deferred stock unit is the economic equivalent of one share of common stock and becomes payable in shares after the officer’s termination of service, according to their distribution election.

How many deferred stock units does the NATIONAL FUEL GAS CO (NFG) officer hold?

Following the transactions, the officer beneficially owned 19,944 deferred stock units, which are tied to NFG common stock and are payable in shares in the future.

How were the 644 NATIONAL FUEL GAS CO (NFG) restricted stock units described in the filing?

The filing explains that 644 restricted stock units vested on December 1, 2025, converted one-for-one into common stock, and that the officer deferred receipt of those shares in favor of 644 deferred stock units under a deferred compensation plan.

What role does the dividend reinvestment plan play in the NATIONAL FUEL GAS CO (NFG) Form 4?

The officer acquired 25 shares of common stock and 119 deferred stock units through dividend reinvestment features of company plans, which the filing notes are exempt transactions under Rule 16a-11.