NorthWestern Energy (NWE) director awarded 569-share 2026 Q2 stock grant

Rhea-AI Filing Summary

Larson Kent T reported acquisition or exercise transactions in this Form 4 filing.

NorthWestern Energy Group director Kent T. Larson received a routine equity grant. He was awarded 569 shares of common stock on April 7, 2026 as a second quarter 2026 stock grant under the company’s compensation rate schedule for non-employee directors at a fair value of $65.94 per share.

Following this award, Larson directly holds 11,517 common shares. This is a compensation-related stock grant, not an open-market purchase or sale, and reflects standard board compensation rather than a discretionary trading decision.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Larson Kent T

Role Director

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

Holdings After Transaction: Common Stock — 11,517 shares (Direct)

Footnotes (1)

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Key Figures

Stock grant size: 569 shares Grant fair value per share: $65.94 per share Shares held after grant: 11,517 shares

3 metrics

Stock grant size 569 shares Common stock award on April 7, 2026

Grant fair value per share $65.94 per share Value used for 2026 second quarter stock grant

Shares held after grant 11,517 shares Director’s direct common stock holdings post-transaction

Key Terms

stock grant, non-employee directors, Grant, award, or other acquisition

3 terms

stock grant financial

"Second quarter stock grant for 2026 received pursuant to the NorthWestern Energy Group, Inc. compensation rate schedule"

non-employee directors financial

"compensation rate schedule for non-employee directors"

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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^*

Larson Kent T

(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)
04/07/2026

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	04/07/2026		A		569(1)	A	$65.94	11,517	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.

Remarks:

	Emily L. Folsom, by power of attorney	04/07/2026
	** 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 Kent T. Larson report on this Form 4?

Kent T. Larson reported receiving a grant of 569 shares of NorthWestern Energy Group common stock. The award was part of the company’s 2026 second quarter stock grant program for non-employee directors, made under its established compensation rate schedule.

Was the NorthWestern Energy Group (NWE) Form 4 transaction an open-market buy or sell?

The Form 4 transaction was not an open-market buy or sell. It was a grant or award of 569 common shares to director Kent T. Larson as routine board compensation, based on NorthWestern Energy Group’s non-employee director compensation rate schedule.

How many NorthWestern Energy Group (NWE) shares does Kent T. Larson hold after this grant?

After receiving the 569-share stock grant, Kent T. Larson directly holds 11,517 shares of NorthWestern Energy Group common stock. This figure reflects his post-transaction ownership position as reported in the Form 4 filing for the April 7, 2026 award.

What was the reported fair value per share for the NorthWestern Energy Group (NWE) stock grant?

The stock grant to Kent T. Larson used a reported fair value of $65.94 per NorthWestern Energy Group common share. This price is used to value the 569-share award for compensation reporting purposes, rather than representing an executed market trade price.

Why did Kent T. Larson receive a stock grant from NorthWestern Energy Group (NWE)?

Kent T. Larson received the 569-share stock grant as part of NorthWestern Energy Group’s compensation program for non-employee directors. The footnote explains it is the second quarter 2026 stock grant under the company’s established compensation rate schedule for board members.