NorthWestern Energy (NWE) director receives 569-share deferred stock grant

Rhea-AI Filing Summary

NorthWestern Energy Group director Jeffrey W. Yingling received a stock-based compensation grant. On May 11, 2026, he acquired 569 shares of common stock at a grant price of $65.94 per share as a second-quarter 2026 stock grant for non-employee directors.

The filing notes that shares were issued as deferred share units, with the grant price set as of March 31, 2026. After this award and including prior deferred share units and dividend reinvestment, Yingling directly holds 23,616 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Yingling Jeffrey W.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	569	$65.94	$38K

Holdings After Transaction: Common Stock — 23,616 shares (Direct, null)

Footnotes (1)

1. Second quarter stock grant for 2026 received pursuant to the NorthWestern Energy Group, Inc. compensation rate schedule for non-employee directors. Includes underlying deferred share units that are issuable subsequent to the reporting person's termination of service from the company. Grant price as of March 31, 2026. Shares issued as deferred share units on May 11, 2026. Includes shares acquired from dividend reinvestment.

Key Figures

Shares granted: 569 shares Grant price: $65.94 per share Post-transaction holdings: 23,616 shares +1 more

4 metrics

Shares granted 569 shares Second quarter 2026 stock grant for non-employee director

Grant price $65.94 per share Grant price as of March 31, 2026

Post-transaction holdings 23,616 shares Total direct holdings after May 11, 2026 grant

Transaction date May 11, 2026 Date deferred share units were issued

Key Terms

deferred share units, dividend reinvestment, non-employee directors, stock grant

4 terms

deferred share units financial

"Includes underlying deferred share units that are issuable subsequent to the reporting person's termination of service"

Deferred share units are promises that give an executive or director the right to receive company shares or their cash value at a future date, often when they retire or leave the company. Think of them as a paycheck held in a savings account that converts into stock later; they matter to investors because they tie pay to long-term performance, create potential future dilution of shares, and represent a delayed cash or share obligation the company must eventually fulfill.

dividend reinvestment financial

"Includes shares acquired from dividend reinvestment"

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

non-employee directors financial

"compensation rate schedule for non-employee directors"

stock grant financial

"Second quarter stock grant for 2026 received pursuant to the ... compensation rate schedule"

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^*

Yingling Jeffrey W.

(Last) (First) (Middle)

3010 W. 69TH STREET

(Street)

SIOUX FALLS SOUTH DAKOTA 57108

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NorthWestern Energy Group, Inc. [ NWE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2026

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	05/11/2026		A		569(1)(2)	A	$65.94(3)	23,616(4)	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. Second quarter stock grant for 2026 received pursuant to the NorthWestern Energy Group, Inc. compensation rate schedule for non-employee directors.

2. Includes underlying deferred share units that are issuable subsequent to the reporting person's termination of service from the company.

3. Grant price as of March 31, 2026. Shares issued as deferred share units on May 11, 2026.

4. Includes shares acquired from dividend reinvestment.

Remarks:

	Emily L. Folsom, by power of attorney	05/12/2026
	** 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)

FAQ

What did NorthWestern Energy Group (NWE) director Jeffrey W. Yingling report in this Form 4?

Director Jeffrey W. Yingling reported receiving 569 shares of NorthWestern Energy Group common stock as a stock-based compensation grant. The award relates to his role as a non-employee director under the company’s compensation rate schedule and was issued as deferred share units.

What was the grant price of the NorthWestern Energy Group (NWE) stock awarded to the director?

The grant price for the 569-share award was $65.94 per share, set as of March 31, 2026. The shares were subsequently issued as deferred share units on May 11, 2026, reflecting the compensation structure for non-employee directors.

How many NorthWestern Energy Group (NWE) shares does Jeffrey W. Yingling hold after this transaction?

After this grant, Jeffrey W. Yingling directly holds 23,616 shares of NorthWestern Energy Group common stock. This total includes underlying deferred share units issuable after his service ends and shares accumulated through dividend reinvestment programs.

Is the NorthWestern Energy Group (NWE) Form 4 transaction an open-market purchase or a compensation grant?

The transaction is a compensation-related stock grant, not an open-market purchase. It is reported with code “A” as a grant, award, or other acquisition under the company’s compensation rate schedule for non-employee directors, delivered in deferred share units.

How are the NorthWestern Energy Group (NWE) director’s deferred share units treated in this Form 4?

The filing explains that the reported holdings include underlying deferred share units that will be issued after the director’s termination of service. These units, along with dividend reinvestment shares, are counted in the 23,616 total direct holdings shown.