Southwest Gas (SWX) CFO has shares withheld to cover PSU tax

Rhea-AI Filing Summary

Southwest Gas Holdings SVP/CFO Justin S. Forsberg reported a tax-related share disposition. On February 27, 2026, 519.918 shares of common stock at $80.02 per share were withheld to cover taxes on settled performance stock units tied to achievement of performance goals. After this tax-withholding disposition, Forsberg directly owned 6,861.731 shares of Southwest Gas Holdings common stock.

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^*

Forsberg Justin S

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP/Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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	02/27/2026		F		519.918(1)	D	$80.02	6,861.731	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 withheld to cover tax on settled Performance Stock Units delivered as a result of satisfaction of performance goals and reported on February 23, 2026.

Remarks:

	Catherine M. Mazzeo, POA	03/03/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Southwest Gas (SWX) report for Justin S. Forsberg?

Southwest Gas reported that SVP/Chief Financial Officer Justin S. Forsberg had 519.918 shares of common stock withheld. The shares were used to cover tax obligations on settled performance stock units tied to performance goals, not as an open-market sale.

Was the Southwest Gas (SWX) insider transaction an open-market sale?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. 519.918 shares were withheld to satisfy taxes on performance stock units that vested after performance goals were met and settled in stock.

At what price were the Southwest Gas (SWX) shares withheld for Justin Forsberg’s taxes?

The shares related to Justin Forsberg’s tax-withholding disposition were valued at $80.02 per share. This price is used in the Form 4 to report the value of the 519.918 common shares withheld to cover the associated tax liability.

How many Southwest Gas (SWX) shares does Justin Forsberg own after this Form 4 transaction?

Following the tax-withholding disposition, Justin Forsberg directly owns 6,861.731 shares of Southwest Gas common stock. This post-transaction balance reflects his remaining direct holdings after 519.918 shares were withheld to cover performance stock unit taxes.

What triggered the tax-withholding disposition reported for Southwest Gas (SWX) CFO Forsberg?

The disposition was triggered by settled performance stock units delivered after performance goals were satisfied. To cover the resulting tax liability, 519.918 Southwest Gas common shares were withheld instead of Forsberg selling shares on the open market.