NorthWestern director granted 640 shares; total ownership 20,884

Rhea-AI Filing Summary

NorthWestern Energy Group, Inc. (NWE) reported a Form 4 showing a non-employee director, Mahvash Yazdi, received 640 shares of common stock on 10/06/2025 as a fourth-quarter stock grant under the company's compensation schedule for non-employee directors. The reported transaction price per share was $58.61, and the reporting person now beneficially owns 20,884 shares, which includes shares acquired through dividend reinvestment. The filing was signed by power of attorney on 10/07/2025.

Positive

• 640 shares granted to a director under the company’s compensation schedule indicates governance alignment through equity-based pay
• Post-transaction beneficial ownership of 20,884 shares (including dividend reinvestment) shows continued insider stake in the company

Negative

• No material negative developments disclosed; the filing shows a routine compensation grant with no change in control

Insights

Corporate Governance Analyst

Director stock grant completed under standard compensation terms.

The grant of 640 shares on 10/06/2025 reflects routine equity compensation for a non-employee director under the stated director compensation schedule. The reported per-share price of $58.61 is the transaction pricing recorded on the Form 4; the reporting person’s post-transaction beneficial ownership is 20,884 shares, which incorporates dividend reinvestment.

This is a standard disclosure event with limited direct impact on company operations or capital structure. Investors may monitor aggregate director holdings trends and future grant sizes at the next proxy or governance disclosure cycle, typically within the next 12 months.

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).

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^*

YAZDI MAHVASH

(Last) (First) (Middle)

3010 W. 69TH STREET

(Street)

SIOUX FALLS SD 57108

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/06/2025

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	10/06/2025		A		640(1)	A	$58.61	20,884(2)	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. Fourth quarter stock grant for 2025 received pursuant to the NorthWestern Energy Group, Inc. compensation rate schedule for non-employee directors.

2. Includes shares acquired from dividend reinvestment.

Remarks:

	Emily L. Folsom, by power of attorney	10/07/2025
	** 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 NWE director Mahvash Yazdi report on Form 4?

The Form 4 reports a non-employee director grant of 640 shares on 10/06/2025, recorded at $58.61 per share.

How many NWE shares does Mahvash Yazdi beneficially own after the transaction?

The filing reports beneficial ownership of 20,884 shares after the reported transaction, which includes dividend reinvestment.

Was the stock grant for Mahvash Yazdi discretionary or part of a schedule?

The grant is disclosed as a fourth-quarter stock grant for 2025 received pursuant to the company’s compensation schedule for non-employee directors.

When was the Form 4 signed and filed for this NWE transaction?

The signature by power of attorney is dated 10/07/2025, following the 10/06/2025 transaction date.