[Form 4] Southwest Gas Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

This Form 4 shows that director Brian E. Sandoval purchased 24 shares of Southwest Gas Holdings, Inc. (SWX) on 09/10/2025 at a price of $78.57 per share. After the transaction he beneficially owned 1,561.972 shares, reported on a Form filed by one reporting person. The filing includes a signature dated 09/11/2025 by Catherine M. Mazzeo, POA.

Insights

Financial Analyst

TL;DR: A small open-market purchase by a director; immaterial to company valuation but shows insider buying.

The filing documents a 24-share purchase at $78.57 on 09/10/2025 by director Brian E. Sandoval, leaving beneficial ownership of 1,561.972 shares. The trade is reported under a single reporting person and signed by a POA. Given the small size relative to typical institutional holdings, this transaction is unlikely to be material to SWX's financials or market capitalization.

Corporate Governance Expert

TL;DR: Routine insider disclosure of a minor purchase; compliant filing with POA signature.

The Form 4 indicates compliance with Section 16 reporting after a director purchase. The signature by a power of attorney on 09/11/2025 is acceptable and the report was filed as from one reporting person. There are no derivative transactions or other notable changes in beneficial ownership beyond the small common stock purchase.

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)
09/10/2025

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	09/10/2025		P		24	A	$78.57	1,561.972	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:

Remarks:

	Catherine M. Mazzeo, POA	09/11/2025
	** 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 Brian E. Sandoval report on Form 4 for SWX?

He reported purchasing 24 shares of Southwest Gas Holdings (SWX) on 09/10/2025 at $78.57 per share.

How many SWX shares did the reporting person own after the transaction?

The filing shows beneficial ownership of 1,561.972 shares following the reported transaction.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Catherine M. Mazzeo, POA on 09/11/2025.

Was the Form 4 filed by one reporting person or multiple?

The form indicates it was filed by one reporting person.

Did the filing report any derivative securities or other dispositions?

No. The filing lists only a non-derivative purchase of common stock and contains no derivative transactions.