NorthWestern Energy (NWE) VP logs award vesting and small tax share disposal

Rhea-AI Filing Summary

NorthWestern Energy Group, Inc. executive Bobbi L. Schroeppel, VP – HR, Customer Care and Corporate Communications, reported equity-related transactions in company common stock. On February 24, 2026, she acquired 1,335 shares of common stock at $68.45 per share through a grant/award acquisition tied to the December 31, 2025 vesting of performance units under the company’s 2020 Executive Retirement-Retention Plan.

A separate transaction on the same date shows a disposition of 31 shares to satisfy tax withholding obligations by delivering securities. Following these transactions, her directly owned common stock totaled 36,664 shares. Footnotes state that total holdings include shares from the Employee Stock Purchase Plan, dividend reinvestment, and underlying deferred share units that will be issued after termination of service, and that the grant’s share price reflects the closing price on February 11, 2026 when the Board approved payout and vesting.

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^*

Schroeppel Bobbi L

(Last) (First) (Middle)

3010 WEST 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP - HR, Cust Care, Corp Comm

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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(1)	02/24/2026		A		1,335(2)	A	$68.45(3)	36,695(4)	D
Common Stock	02/24/2026		F		31	D	$0	36,664	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. Includes underlying deferred share units that are issuable subsequent to the reporting person's termination of service from the company.

2. Shares acquired upon 12/31/25 vesting of performance units granted under the company's 2020 Executive Retirement-Retention Plan.

3. Share price is the closing share price on 2/11/26, the date when the company's Board of Directors approved payout and vesting of the award.

4. Total shares owned includes shares acquired from participation in the company's Employee Stock Purchase Plan and through dividend reinvestment.

Remarks:

	Emily L. Folsom, by power of attorney	02/25/2026
	** 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.
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FAQ

What insider transactions did NWE executive Bobbi Schroeppel report on this Form 4?

Bobbi Schroeppel reported acquiring 1,335 shares of NorthWestern Energy Group common stock and disposing of 31 shares to cover taxes. Both transactions involved directly owned shares and occurred on February 24, 2026, according to the Form 4 details and footnotes.

How many NorthWestern Energy (NWE) shares did Bobbi Schroeppel acquire in this filing?

She acquired 1,335 shares of NorthWestern Energy Group common stock at a reference price of $68.45 per share. The acquisition came from the vesting of performance units granted under the company’s 2020 Executive Retirement-Retention Plan, tied to a December 31, 2025 vesting date.

Why were 31 NorthWestern Energy (NWE) shares disposed of in this Form 4?

The 31 shares were disposed of to pay tax liability by delivering securities, coded as a tax-withholding disposition. This is a common mechanism where shares from an award are withheld instead of paying cash taxes at settlement or vesting of equity awards.

What plan triggered Bobbi Schroeppel’s NorthWestern Energy (NWE) share award vesting?

The share acquisition was triggered by vesting of performance units under NorthWestern Energy’s 2020 Executive Retirement-Retention Plan. Footnotes state the units vested on December 31, 2025, and the Board approved payout and vesting of the award on February 11, 2026.

What is Bobbi Schroeppel’s total NorthWestern Energy (NWE) share ownership after these transactions?

After the reported transactions, Bobbi Schroeppel directly owned 36,664 shares of NorthWestern Energy Group common stock. Footnotes explain that total holdings also reflect shares from the Employee Stock Purchase Plan, dividend reinvestment, and certain deferred share units issuable after her termination of service.

How was the $68.45 share price determined for the NorthWestern Energy (NWE) award?

The $68.45 share price equals the closing share price on February 11, 2026. Footnotes clarify that this was the date when NorthWestern Energy’s Board of Directors approved payout and vesting of the performance-based award under the 2020 Executive Retirement-Retention Plan.