[Form 4] RGC Resources Inc Insider Trading Activity

Rhea-AI Filing Summary

Nancy H. Agee, a director of RGC Resources, Inc. (RGCO), received 281.733 shares of common stock on 09/02/2025 through an election under the company's Restricted Stock Plan for Outside Directors at an effective price of $22.125 per share. After this issuance, the filing reports total beneficial ownership of 60,918.84 shares attributable to Ms. Agee, held indirectly in a revocable trust for which she is trustee. The trust balance includes 52,218.537 shares in the trust and 8,700.303 shares previously owned by her spouse that were transferred into a separate revocable trust. The Form 4 was submitted by Ms. Agee via a power of attorney.

Positive

• Director alignment: Issuance under the Restricted Stock Plan increases the director's equity stake, aligning interests with shareholders.
• Transparent reporting: Form 4 discloses the election, transaction details, and trust holdings, aiding investor transparency.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director equity award increases insider stake modestly; reflects standard outside-director compensation.

This Form 4 documents a typical issuance of restricted shares under an outside-director compensation plan. The 281.733 shares represent a non-cash grant election rather than an open-market purchase, preserving cash while aligning the director with shareholder interests. Holding the majority of reported shares indirectly in a revocable trust is common for estate and governance planning and does not, by itself, alter control dynamics. There is no indication of accelerated vesting, option exercises, or sales that would signal a change in intent or liquidity.

Securities Analyst

TL;DR: Small, non-dilutive director grant; minimal near-term market impact and limited signalling to investors.

The transaction is an issuance under a director restricted stock plan at an equivalent price of $22.125 per share and involves 281.733 shares, which is immaterial relative to typical public float sizes. The reported beneficial ownership of 60,918.84 shares should be monitored in context of total outstanding shares, but absent additional disclosures this appears to be routine compensation rather than a strategic share accumulation or disposal.

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

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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^*

AGEE NANCY H

(Last) (First) (Middle)

P. O. BOX 13007

(Street)

ROANOKE VA 24030

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RGC RESOURCES INC [ RGCO ]

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)
09/02/2025

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	09/02/2025		A(1)		281.733	A	$22.125	60,918.84(2)	I	Trust

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 issued to reporting person pursuant to an election under the Restricted Stock Plan for Outside Directors of RGC Resources, Inc.

2. Reporting person has 52,218.537 shares in a revocable trust for which she serves as trustee. Includes 8,700.303 shares previously owned by her spouse, which have been transferred to a revocable trust for which the spouse serves as trustee.

	/s/ Nancy H. Agee by Timothy J. Mulvaney, POA dated 02/05/2024	09/03/2025
	** 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 transaction did Nancy H. Agee report on Form 4 for RGCO?

Ms. Agee reported receiving 281.733 shares of common stock on 09/02/2025 via an election under the Restricted Stock Plan for Outside Directors at an effective price of $22.125 per share.

How many RGCO shares does Nancy H. Agee beneficially own after the reported transaction?

The filing reports a total beneficial ownership of 60,918.84 shares following the transaction, held indirectly in a revocable trust.

What portion of Ms. Agee's holdings are held in a trust?

The filing indicates 52,218.537 shares are in a revocable trust for which she is trustee; this includes 8,700.303 shares previously owned by her spouse that were transferred to a trust.

Was the Form 4 filing submitted directly by Ms. Agee?

The signature block shows the Form 4 was filed under a power of attorney for Ms. Agee, as indicated in the filing.

Does this Form 4 indicate any sales or dispositions by Ms. Agee?

No. The reported transaction code is an acquisition (A) of 281.733 shares; there are no dispositions reported in this filing.