Executive at Southwest Gas (SWX) receives 1,213.852-share restricted stock award

Rhea-AI Filing Summary

Southwest Gas Holdings, Inc. reported that VP/Controller/CAO Fabio A. Pineda acquired 1,213.852 shares of common stock through a grant or award of restricted stock units on February 19, 2026, at a stated price of $0.00 per share.

After this award, Pineda directly owns 2,417.390 shares of common stock. Each restricted stock unit represents a contingent right to receive one share of Southwest Gas common stock and vests in three annual installments of 40%, 30%, and 30%, assuming continued service.

Insights

Equity Compensation Analyst

Routine equity grant increases insider holdings through time-vested RSUs.

This filing shows a standard executive compensation event. Fabio A. Pineda received 1,213.852 restricted stock units, each representing a future share of common stock, with no cash paid per share and direct ownership rising to 2,417.390 shares.

The RSUs vest over three years in 40%, 30%, and 30% tranches, contingent on continued service. This structure encourages retention and aligns the officer’s incentives with shareholders, but the share amount is modest relative to typical public float, so overall impact is limited.

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
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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^*

Pineda Fabio A

(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)
	VP/Controller/CAO

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		1,213.852(1)	A	$0	2,417.39	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. Each restricted stock unit represents a contingent right to receive one share of SWX common stock. Restricted stock units vest in three annual installments (40%, 30%, 30%), assuming continued service.

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 (SWX) report for Fabio A. Pineda?

Southwest Gas reported that VP/Controller/CAO Fabio A. Pineda acquired 1,213.852 shares of common stock via a restricted stock unit grant. This non-cash award increased his direct holdings to 2,417.390 shares, reflecting routine equity-based executive compensation.

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

The transaction for Southwest Gas executive Fabio A. Pineda was an equity award, not an open-market purchase. Code A indicates a grant or other acquisition, specifically restricted stock units that convert into common shares according to a vesting schedule tied to continued service.

How many Southwest Gas (SWX) shares did Fabio A. Pineda hold after the Form 4 transaction?

Following the restricted stock unit grant, Fabio A. Pineda directly beneficially owned 2,417.390 shares of Southwest Gas common stock. This total includes the 1,213.852 shares represented by the awarded restricted stock units reported in the Form 4 filing.

What is the vesting schedule for Fabio A. Pineda’s Southwest Gas (SWX) restricted stock units?

The restricted stock units granted to Fabio A. Pineda vest in three annual installments of 40%, 30%, and 30%. Vesting requires continued service, and each vested unit converts into one share of Southwest Gas common stock, aligning compensation with longer-term employment and performance.

Did Fabio A. Pineda pay a purchase price for his new Southwest Gas (SWX) shares?

No cash purchase price was paid for this Southwest Gas award. The Form 4 shows a price per share of $0.00 because the transaction is a restricted stock unit grant, representing compensation rather than an open-market stock purchase by the executive.

What does the restricted stock unit grant mean for Southwest Gas (SWX) shareholders?

The grant modestly increases potential future share count tied to executive compensation. Each restricted stock unit will convert into one share as tranches vest, assuming continued service, modestly expanding outstanding shares while further aligning the executive’s incentives with shareholder interests over time.