[Form 4] RGC Resources Inc Insider Trading Activity

Rhea-AI Filing Summary

Elizabeth A. McClanahan, a director of RGC Resources, Inc. (RGCO), received 87.081 shares of common stock on 09/02/2025 at a price of $22.125 per share under the companys Restricted Stock Plan for Outside Directors. After the issuance, Ms. McClanahan beneficially owned 4,036.279 shares reported as direct ownership. The Form 4 was signed on 09/03/2025 by Ms. McClanahan through a power of attorney.

Positive

• Issuance was conducted under the companys formal Restricted Stock Plan for Outside Directors
• Transaction is clearly documented with number of shares, price, and resulting beneficial ownership

Negative

• Directors direct holdings increased by 87.081 shares, which may marginally dilute existing holders

Insights

Corporate Governance Expert

TL;DR: Routine director equity award under the outside directors restricted stock plan; standard governance practice.

The filing documents a typical issuance of restricted shares to an outside director as part of a director compensation program. The transaction code indicates an acquisition via the issuers plan, and the explanation confirms the shares were issued pursuant to an election under the Restricted Stock Plan for Outside Directors. This is a non-derivative, direct holding increase and represents routine compensation rather than a strategic ownership change.

Securities Analyst

TL;DR: Small, specific share award (87.081 shares) at $22.125; modest change to insider holdings.

The report shows an acquisition of 87.081 shares at $22.125 on 09/02/2025, bringing the reporting persons direct beneficial ownership to 4,036.279 shares. The transaction is described as an issuance under the companys restricted stock plan for outside directors, indicating compensation-driven issuance rather than open-market trading. There is no additional financial performance or material corporate action disclosed in this filing.

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^*

McClanahan Elizabeth A

(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)		87.081	A	$22.125	4,036.279	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 issued to reporting person pursuant to an election under the Restricted Stock Plan for Outside Directors of RGC Resources, Inc.

	/s/ Elizabeth A. McClanahan 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 did Elizabeth A. McClanahan report on Form 4 for RGCO?

She reported receiving 87.081 shares of RGC Resources common stock on 09/02/2025 at $22.125 per share under the Restricted Stock Plan for Outside Directors.

How many shares does Ms. McClanahan beneficially own after the transaction?

She beneficially owned 4,036.279 shares following the reported transaction.

What was the purpose of the share issuance reported on Form 4 (RGCO)?

The filing states the shares were issued pursuant to an election under the Restricted Stock Plan for Outside Directors.

When was the transaction and when was the Form 4 signed?

The transaction date was 09/02/2025 and the Form 4 was signed on 09/03/2025 by Elizabeth A. McClanahan via a power of attorney.

Was this a derivative transaction or a non-derivative issuance?

This Form 4 reports a non-derivative issuance of common stock, not a derivative instrument.