UTL Form 4: Director Disposes 5,529.746 Shares, Receives 2,435 RSUs

Rhea-AI Filing Summary

Michael B. Green, a Director of Unitil Corp (UTL), reported transactions dated 10/01/2025. The filing shows a grant of 2,435 restricted stock units (RSUs) that are fully vested on grant and valued at $47.22 per share for disclosure purposes. The RSUs will be payable after separation from Board service and will be settled 70% in common stock and 30% in cash, based on the closing price the day before settlement. The report also shows a reported disposition of 5,529.746 shares and indicates 21,357 shares beneficially owned following the reported transactions.

Positive

• 2,435 restricted stock units were granted and are fully vested
• RSUs are payable 70% in stock and 30% in cash, providing mixed liquidity and equity alignment

Negative

• Reported disposition of 5,529.746 shares reduces the director's direct share holdings

Insights

Corporate Governance Analyst

Director received fully vested RSUs and reported a share disposal; net beneficial ownership is 21,357.

The filing documents a grant of 2,435 restricted stock units on 10/01/2025 that are fully vested at grant and payable 70% in stock and 30% in cash after separation from the Board. Fully vested RSUs reduce future service-based forfeiture risk and create a near-term entitlement for the reporting person.

The Form 4 also records a disposition of 5,529.746 common shares and shows 21,357 shares beneficially owned following the transactions, presenting a combined change in the director's reported holdings on the issuer register.

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

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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).

1. Name and Address of Reporting Person^*

GREEN MICHAEL B

(Last) (First) (Middle)

6 LIBERTY LANE WEST

(Street)

HAMPTON NH 03842

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITIL CORP [ UTL ]

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)
10/01/2025

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, no par value								5,529.746	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
Restricted stock units	(1)	10/01/2025		A		2,435		(1)	(1)	Common stock	2,435	$47.22	21,357	D

Explanation of Responses:

1. Each restricted stock unit is equivalent in value to one share of Unitil Corporation's common stock, no par value ("Common Stock"), and represents the right to receive a combination of cash and Common Stock after separation from service on Unitil Corporation's Board of Directors. Each restricted stock unit is fully vested upon grant and is payable 70% in Common Stock and 30% in cash, based upon the closing price of Common Stock on the day prior to settlement.

	/s/ Sandra L. Whitney, attorney-in-fact for Michael B. Green	10/03/2025
	** 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 did Unitil director Michael B. Green report on Form 4 (UTL)?

He reported a grant of 2,435 restricted stock units and a reported disposition of 5,529.746 common shares, with 21,357 shares beneficially owned after the transactions.

When were the transactions for Michael B. Green reported?

The transactions are dated 10/01/2025 and the Form 4 is signed on 10/03/2025.

Are the granted RSUs immediately vested?

Yes. The filing states the 2,435 RSUs are fully vested upon grant.

How will the RSUs be settled for Michael B. Green?

Each RSU is payable after separation from Board service and will be settled 70% in common stock and 30% in cash, based on the closing price the day before settlement.

What valuation figure is shown for the RSUs in the filing?

The form lists a price of $47.22 per share for the underlying common stock in connection with the RSU disclosure.