Executive at NorthWestern Energy (NYSE: NWE) reports stock award and tax withholding

Rhea-AI Filing Summary

NorthWestern Energy Group, Inc. executive Bobbi L. Schroeppel reported equity compensation activity in company common stock. She acquired 2,464 shares as a grant/award upon 12/31/25 vesting of performance units granted under the company’s 2023 Long-Term Incentive Program, using a share price reference of $68.45. In a related tax-withholding disposition, 643 shares were surrendered to cover obligations, leaving her with 38,485 directly owned shares of common stock. Total holdings include shares accumulated through the Employee Stock Purchase Plan and dividend reinvestment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Schroeppel Bobbi L

Role VP - HR, Cust Care, Corp Comm

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,464	$68.45	$169K
Tax Withholding	Common Stock	643	$0.00	--

Holdings After Transaction: Common Stock — 39,128 shares (Direct)

Footnotes (1)

1. Shares acquired upon 12/31/25 vesting of performance units granted under the company's 2023 Long-Term Incentive Program. 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. Total shares owned includes shares acquired from participation in the company's Employee Stock Purchase Plan and through dividend reinvestment.

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^*

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)
02/27/2026

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	02/27/2026		A		2,464(1)	A	$68.45(2)	39,128(3)	D
Common Stock	02/27/2026		F		643	D	$0	38,485	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. Shares acquired upon 12/31/25 vesting of performance units granted under the company's 2023 Long-Term Incentive Program.

2. 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.

3. 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	03/02/2026
	** 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 transactions did NorthWestern Energy (NWE) report for Bobbi L. Schroeppel?

Bobbi L. Schroeppel reported an equity award and related tax withholding. She acquired 2,464 NorthWestern Energy common shares from vested performance units, and 643 shares were disposed of to satisfy tax obligations, resulting in 38,485 directly owned shares after these transactions.

Was the NorthWestern Energy (NWE) insider activity a stock purchase or a compensation award?

The activity was a compensation-related award, not an open-market purchase. Schroeppel received 2,464 common shares upon vesting of performance units under the 2023 Long-Term Incentive Program, with a separate 643-share disposition for tax withholding rather than a discretionary share sale.

How many NorthWestern Energy (NWE) shares does Bobbi L. Schroeppel hold after the Form 4?

After the reported transactions, Schroeppel directly owns 38,485 NorthWestern Energy common shares. This total includes shares received from the recent performance unit vesting, as well as shares accumulated via the Employee Stock Purchase Plan and through dividend reinvestment programs.

What is the origin of the 2,464 NorthWestern Energy (NWE) shares granted to Schroeppel?

The 2,464 shares were acquired upon vesting of performance units as of 12/31/25. These units were granted under NorthWestern Energy’s 2023 Long-Term Incentive Program, and the board approved payout and vesting on 2/11/26, using a closing share price reference of $68.45.

Why were 643 NorthWestern Energy (NWE) shares disposed of in Schroeppel’s Form 4?

The 643-share disposition was for tax withholding related to the equity award. The shares were delivered to cover tax liabilities tied to the vesting of performance units, rather than representing an open-market sale of NorthWestern Energy common stock by Schroeppel.

How is the share price determined for Schroeppel’s NorthWestern Energy (NWE) award?

The award uses the closing share price on 2/11/26 as a reference. That date is when NorthWestern Energy’s board approved payout and vesting of the performance-unit award, with $68.45 recorded as the relevant share price for the granted common stock.