Director Brian Sandoval awarded 1,726 Southwest Gas (SWX) shares, lifting holdings

Rhea-AI Filing Summary

Southwest Gas Holdings director Brian E. Sandoval reported an award of 1,725.574 shares of common stock on February 19, 2026, described as a grant, award, or other acquisition at no cash price. After this transaction, his direct holdings total 3,299.272 shares, including 11.726 shares acquired through exempt dividend reinvestment transactions.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sandoval Brian E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,725.574	$0.00	--

Holdings After Transaction: Common Stock — 3,299.272 shares (Direct)

Footnotes (1)

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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^*

Sandoval Brian E

(Last) (First) (Middle)

8360 S DURANGO DRIVE

(Street)

LAS VEGAS NV 89113

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Southwest Gas Holdings, Inc. [ SWX ]

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)
02/19/2026

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	02/19/2026		A		1,725.574	A	$0	3,299.272(1)	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. Balance includes 11.726 shares acquired through exempt dividend reinvestment transactions.

Remarks:

	Catherine M. Mazzeo, POA	02/23/2026
	** 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 transaction did Southwest Gas Holdings (SWX) disclose for Brian E. Sandoval?

Southwest Gas Holdings disclosed that director Brian E. Sandoval acquired 1,725.574 shares of common stock as a grant or award. The transaction carried a stated price of $0.0000 per share, indicating no cash payment, and increased his directly held position in SWX stock.

How many Southwest Gas Holdings (SWX) shares does Brian E. Sandoval hold after this Form 4?

After the reported transaction, Brian E. Sandoval holds 3,299.272 shares of Southwest Gas Holdings common stock directly. This balance includes 11.726 shares that were previously acquired through exempt dividend reinvestment transactions, as noted in the Form 4 footnote filed with the SEC.

Was the Southwest Gas Holdings (SWX) insider transaction a purchase or an award?

The transaction for Southwest Gas Holdings director Brian E. Sandoval is classified as a grant, award, or other acquisition. It is coded as an "A" transaction and shows a price of $0.0000 per share, indicating an equity award rather than an open-market purchase of SWX stock.

What is the SEC transaction code for Brian E. Sandoval’s SWX share acquisition?

Brian E. Sandoval’s Southwest Gas Holdings transaction is reported with SEC code "A". This code denotes a grant, award, or other acquisition of securities, distinguishing it from open-market buys or sells and signaling that the shares were received rather than purchased for cash consideration.

Does the Form 4 note any dividend reinvestment for Southwest Gas Holdings (SWX) shares?

Yes. A footnote to the Form 4 states that Brian E. Sandoval’s reported balance includes 11.726 shares acquired through exempt dividend reinvestment transactions. These reinvested dividends are part of his total directly held Southwest Gas Holdings common stock position after the reported award.