Southwest Gas (SWX) president Justin L. Brown discloses stock transaction

Rhea-AI Filing Summary

Southwest Gas Holdings, Inc. reported an insider stock transaction by President of Southwest Gas Corp., Justin L. Brown. On 01/08/2026, Brown had 2,572.614 shares of common stock disposed of in a transaction coded "F" at $80.15 per share, typically indicating shares withheld in connection with equity compensation. Following this transaction, he beneficially owned 34,122.835 shares directly and 3,658.482 shares indirectly through a 401(k) plan. The balances include shares acquired through exempt dividend reinvestment transactions.

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^*

Brown Justin L

(Last) (First) (Middle)

8360 S. DURANGO DR.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President/Southwest Gas Corp.

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2026

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	01/08/2026		F		2,572.614	D	$80.15	34,122.835(1)	D
Common Stock								3,658.482(2)	I	By 401(k)

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 490.729 shares acquired through exempt dividend reinvestment transactions.

2. Balance includes 176.556 shares acquired through exempt dividend reinvestment transactions.

Remarks:

	Catherine M. Mazzeo, POA	01/12/2026
	** 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).
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FAQ

What insider transaction did Southwest Gas (SWX) report for Justin L. Brown?

The company reported that President of Southwest Gas Corp., Justin L. Brown, had 2,572.614 shares of common stock disposed of in a transaction coded "F" on 01/08/2026 at $80.15 per share.

How many Southwest Gas (SWX) shares does Justin L. Brown hold after this Form 4 transaction?

After the reported transaction, Justin L. Brown beneficially owned 34,122.835 shares of Southwest Gas common stock directly and 3,658.482 shares indirectly through a 401(k) plan.

What does transaction code "F" mean in Justin L. Brown’s Southwest Gas (SWX) Form 4?

The Form 4 lists the disposition of 2,572.614 shares of Southwest Gas common stock with transaction code "F", indicating a transaction related to equity compensation as defined in the form’s instructions.

What role does Justin L. Brown hold at Southwest Gas (SWX)?

Justin L. Brown is reported as an officer of Southwest Gas Holdings, Inc., serving as President/Southwest Gas Corp.

How are some of Justin L. Brown’s Southwest Gas (SWX) shares held indirectly?

The Form 4 shows 3,658.482 shares of Southwest Gas common stock held indirectly by 401(k), in addition to his directly held shares.

Do Justin L. Brown’s reported Southwest Gas (SWX) balances include dividend reinvestment shares?

Yes. Footnotes state that the direct balance includes 490.729 shares and the indirect balance includes 176.556 shares acquired through exempt dividend reinvestment transactions.