Welcome to our dedicated page for NorthWestern Energy Group SEC filings (Ticker: NWE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
NorthWestern Energy Group, Inc.'s SEC filings document the formal disclosures of a regulated electric and natural gas utility with operations in Montana, South Dakota, Nebraska, and Yellowstone National Park. The record includes 8-K reports on operating results, Regulation FD presentations, material agreements, capital-structure actions, and annual meeting voting results.
Proxy and governance filings cover director elections, auditor ratification, executive compensation votes, board matters, and shareholder voting mechanics. Debt-related disclosures include NorthWestern Corporation financing arrangements, including Montana First Mortgage Bonds, indenture terms, secured-debt ranking, and intended uses of proceeds. The filings also address utility business risks, financial condition, and corporate governance for the public parent company.
NorthWestern Energy Group VP Jason Merkel reported stock-based compensation activity involving company common stock. He acquired 1,331 shares as a grant/award tied to the 12/31/25 vesting of performance units under the company’s 2023 Long-Term Incentive Program, using a share value of $68.45 set by the Board on 2/11/26. In a separate transaction the same day, 461 shares were disposed of to cover taxes through share withholding. After these award and tax-withholding transactions, Merkel directly holds 5,616 NorthWestern Energy Group common shares.
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.
NorthWestern Energy Group VP - Technology Jeanne Vold reported equity award-related transactions in company common stock. On the vesting of performance units from the 2023 Long-Term Incentive Program, she acquired 1,679 shares at a reference price of $68.45 per share and then disposed of 478 shares to cover tax obligations. After these award and tax-withholding transactions on February 27, 2026, she directly owned 14,221 shares of NorthWestern Energy Group common stock.
NorthWestern Energy Group President and CEO Brian B. Bird received an equity award and related tax withholding adjustment. He acquired 2,587 shares of common stock on a grant or award basis at a reference price of $68.45 per share, tied to performance units under the company’s 2020 Executive Retirement-Retention Plan that vested on 12/31/25. To cover taxes, 60 shares were disposed of through a tax-withholding transaction, leaving him with 204,524 directly owned shares, which include deferred share units and shares accumulated through the Employee Stock Purchase Plan and dividend reinvestment.
NorthWestern Energy Group VP and CFO Crystal Dawn Lail reported equity compensation activity in the company’s common stock. She acquired 1,260 shares as a grant/award tied to vesting of performance units, and 29 shares were disposed of to cover tax withholding. Following these transactions, she directly owns 30,401 shares, including deferred share units issuable after her service ends.
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.
NorthWestern Energy Group VP Michael R. Cashell reported equity award activity involving company common stock. On a grant dated February 24, 2026, he acquired 1,329 shares through vesting of performance units under the company’s 2020 Executive Retirement-Retention Plan, valued using the $68.45 closing price from February 11, 2026.
In a related move, 31 shares were disposed of to satisfy tax withholding obligations rather than through an open-market sale. After these transactions, his directly held common stock position was 25,652 shares, which also reflects deferred shares and dividend reinvestment as described in the footnotes.
NorthWestern Energy Group VP and General Counsel Shannon Heim reported equity compensation activity in company common stock. Heim acquired 148 shares as a grant tied to the 12/31/25 vesting of performance units from the company’s 2023 Long-Term Incentive Program, valued at $68.45 per share based on the 2/11/26 closing price when the Board approved the payout. In a related tax-withholding disposition, 11 shares were surrendered to cover tax obligations. After these transactions, Heim directly owns 6,869 common shares, a figure that also reflects participation in the Employee Stock Purchase Plan, dividend reinvestment, and underlying deferred share units issuable after termination of service.
NorthWestern Energy Group, Inc. executive John D. Hines, VP – Energy Supply & MT Gov, reported equity compensation activity in company common stock. He acquired 2,474 shares on February 24, 2026 as a grant/award tied to performance units under the 2023 Long-Term Incentive Program.
A footnote explains these shares were acquired upon December 31, 2025 vesting of performance units, valued using the $68.45 closing share price on February 11, 2026, when the board approved payout and vesting. To cover taxes, 57 shares were disposed of through a tax-withholding transaction, leaving Hines with 41,016 directly held shares, including deferred share units issuable after his service ends.
NorthWestern Energy Group, Inc. approved a 2026 annual cash incentive plan and a 2026 long-term equity incentive program for executives and other employees. The short-term plan pays cash bonuses for 2026 based on individual performance and company results in net income, safety, reliability, and customer satisfaction, with financial performance weighted at 55% and the other three categories at 15% each.
Executive targets under the 2026 cash plan range up to 100% of base salary for the CEO, with lower percentages for other named officers. The long-term program grants restricted share units sized as a percentage of salary, with CEO targets at 325% of base salary and three other named officers between 65% and 150%. These RSUs generally vest on December 31, 2028, subject to continued employment, with accelerated vesting on certain change in control, death, disability, retirement, or qualifying involuntary termination events and specific provisions that exclude the pending merger with Black Hills Corporation from the standard change in control definition.