Director at NorthWestern Energy Group (NWE) receives 581-share grant

Rhea-AI Filing Summary

NorthWestern Energy Group, Inc. director Kent T. Larson reported a routine stock-based compensation grant. On January 2, 2026, he received 581 shares of common stock at a value of $64.54 per share, described as a first quarter 2026 stock grant under the company’s compensation rate schedule for non-employee directors. Following this grant, he directly holds 10,948 shares of NorthWestern Energy Group common stock.

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).

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^*

Larson Kent T

(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)
01/02/2026

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	01/02/2026		A		581(1)	A	$64.54	10,948	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. First quarter stock grant for 2026 received pursuant to the NorthWestern Energy Group, Inc. compensation rate schedule for non-employee directors.

Remarks:

	Emily L. Folsom, by power of attorney	01/06/2026
	** 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).
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FAQ

Who is the reporting insider in NorthWestern Energy Group (NWE)'s latest Form 4?

The reporting person is Kent T. Larson, who serves as a director of NorthWestern Energy Group, Inc. and is not listed as an officer or 10% owner.

What type of transaction did Kent T. Larson report for NWE?

Kent T. Larson reported an acquisition of common stock, coded as transaction type "A", indicating shares were acquired rather than sold.

How many NorthWestern Energy Group (NWE) shares did the director receive?

He received 581 shares of common stock on January 2, 2026 as part of the reported transaction.

What was the reported value per share for the NWE stock grant?

The Form 4 shows the common stock grant valued at $64.54 per share for the 581-share award.

How many NWE shares does Kent T. Larson own after this transaction?

After the reported grant, Kent T. Larson directly owns 10,948 shares of NorthWestern Energy Group common stock.

Was the NWE stock grant part of a director compensation plan?

Yes. A footnote explains this was a first quarter 2026 stock grant received under NorthWestern Energy Group, Inc.’s compensation rate schedule for non-employee directors.

Is the reported NWE ownership held directly or indirectly by the director?

The Form 4 lists the 10,948 shares as held with direct (D) ownership, with no separate entity or indirect ownership described.