NorthWestern Energy (NWE) VP Cashell withholds 381 shares for taxes

Rhea-AI Filing Summary

NorthWestern Energy Group, Inc. executive activity: Vice President of Transmission Michael R. Cashell reported a disposition of 381 shares of NorthWestern Energy Group, Inc. common stock on January 22, 2026 at a price of $64.54 per share, coded as an "F" transaction, which typically reflects share withholding to cover taxes on equity compensation.

After this transaction, Cashell directly beneficially owned 24,354 shares of the company’s common stock. The filing shows no derivative securities transactions and lists his ownership as direct rather than through an intermediary entity.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Cashell Michael R

Role VP - Transmission

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	381	$64.54	$25K

Holdings After Transaction: Common Stock — 24,354 shares (Direct)

Footnotes (1)

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^*

Cashell Michael R

(Last) (First) (Middle)

11 EAST PARK STREET

(Street)

BUTTE MT 59701

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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	01/22/2026		F		381	D	$64.54	24,354	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:

Remarks:

	Emily L. Folsom, by power of attorney	01/22/2026
	** 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.

FAQ

What insider transaction did NorthWestern Energy Group (NWE) report for Michael R. Cashell?

Vice President of Transmission Michael R. Cashell reported a disposition of 381 shares of NorthWestern Energy Group, Inc. common stock on January 22, 2026, at $64.54 per share, coded as an "F" transaction.

How many NorthWestern Energy (NWE) shares does Michael R. Cashell own after the reported transaction?

Following the reported transaction, Michael R. Cashell beneficially owns 24,354 shares of NorthWestern Energy Group, Inc. common stock, held in direct ownership.

What does transaction code "F" mean in the NorthWestern Energy (NWE) Form 4 filing?

In this context, code "F" indicates a disposition of shares to satisfy tax withholding obligations related to equity awards, rather than an open-market purchase or sale.

What role does the reporting person hold at NorthWestern Energy Group (NWE)?

The reporting person, Michael R. Cashell, is an officer of NorthWestern Energy Group, Inc., serving as Vice President - Transmission.

Were any derivative securities reported in this NorthWestern Energy (NWE) insider filing?

No derivative securities transactions were reported; the filing’s activity relates only to common stock in the non-derivative securities table.

Is Michael R. Cashell a 10% owner of NorthWestern Energy (NWE)?

No. In this filing, Michael R. Cashell is reported as an officer (Vice President - Transmission) and is not marked as a 10% owner.