NOG director awarded 5,645 shares under 2018 Equity Incentive Plan

Rhea-AI Filing Summary

Northern Oil & Gas, Inc. director Bahram Akradi reported an acquisition of 5,645 shares of the company's common stock on 09/30/2025. The shares were granted under the issuer's 2018 Equity Incentive Plan at a reported price of $0, and following the transaction the reporting person beneficially owned 1,677,230 shares. The Form 4 was signed on 10/02/2025 by an attorney-in-fact and indicates the filing was made by one reporting person. The filing shows a routine equity award to an insider with direct ownership disclosed and no derivative transactions reported.

Positive

• 5,645 shares granted to a director under the 2018 Equity Incentive Plan
• Reporting person’s direct beneficial ownership at 1,677,230 shares, disclosed transparently

Negative

• None.

Insights

Corporate Governance Analyst

Director received a routine equity award of 5,645 shares under the company's equity plan.

This Form 4 records a non-derivative grant, not a sale, increasing the director's direct stake to 1,677,230 shares as of 09/30/2025. The award is described as granted under the 2018 Equity Incentive Plan, indicating compensation via standard equity-based pay.

The filing is procedural and contains no exercised options, dispositions, or derivative activity; it therefore primarily documents alignment through stock ownership rather than market activity.

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

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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^*

Akradi Bahram

(Last) (First) (Middle)

4350 BAKER ROAD, SUITE 400

(Street)

MINNETONKA MN 55343

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NORTHERN OIL & GAS, INC. [ N O G ]

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)
09/30/2025

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)	09/30/2025		A		5,645	A	$0	1,677,230	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. Stock granted pursuant to the Issuer's 2018 Equity Incentive Plan.

Remarks:

	/s/ Stephanie L. Horton as 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.
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 transaction did Bahram Akradi report on Form 4 for NOG?

He reported an acquisition of 5,645 shares of common stock on 09/30/2025 under the issuer's 2018 Equity Incentive Plan.

How many shares does the reporting person own after the transaction?

The Form 4 states beneficial ownership of 1,677,230 shares following the reported transaction.

Was the transaction a purchase, sale, or grant?

The filing records the transaction code A (acquisition); the explanation specifies the stock was granted under the equity incentive plan.

Did the Form 4 report any derivative transactions for NOG?

No. Table II shows no derivative securities; only a non-derivative grant is reported.

When was the Form 4 signed and filed?

The signature block shows the form was signed by an attorney-in-fact on 10/02/2025.