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Unitil (NYSE: UTL) president receives new stock grants and performance awards

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Unitil Corporation reported new equity awards for Pres. & Chief Admin Officer Robert B. Hevert. On January 27, 2026, he received 3,740 shares of common stock that generally vest 25% per year over four years under the Third Amended and Restated 2003 Stock Plan.

He also received 3,740 performance-based shares that generally vest after a three-year performance period, plus 90 shares granted at the conclusion of the 2023–2025 performance period at $50 per share. Following these transactions, he beneficially owned 35,465.35 shares of common stock directly, including shares accumulated through dividend reinvestment, and 5,120 contingent stock-based derivative securities tied to performance through December 31, 2028.

Positive

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Negative

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Insider Hevert Robert B
Role Pres. & Chief Admin Officer
Type Security Shares Price Value
Grant/Award Contingent grant of common stock 1,870 $0.00 --
Grant/Award Common stock, no par value 3,740 $0.00 --
Grant/Award Common stock, no par value 3,740 $0.00 --
Grant/Award Common stock, no par value 90 $50.00 $5K
Holdings After Transaction: Contingent grant of common stock — 5,120 shares (Direct); Common stock, no par value — 0 shares (Direct)
Footnotes (1)
  1. Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest 25% per year over four years from date of grant. Shares will be valued at current market price on date of vesting. Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest after three-year performance period based on the attainment of certain performance thresholds of certain performance goals. Shares will be valued at current market price on date of vesting. Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares were granted at the conclusion of 2023-2025 performance period based on the attainment of certain performance thresholds of certain performance goals. Shares were valued at current market price on date of grant. The balance of the contingent grant for such performance period terminated. Includes 211.965 shares of common stock acquired on February 28, 2025, 224.671 shares of common stock acquired on May 30, 2025, 258.497 shares of common stock acquired on August 28, 2025 and 249.233 shares of common stock acquired on November 28, 2025, in each case resulting from the reinvestment of dividends pursuant to Unitil Corporation's Dividend reinvestment and Stock Purchase Plan. Shares may be granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Any such shares would be granted after a three-year performance period ending on December 31, 2028, based on the attainment of certain performance thresholds of certain performance goals. Any such shares would be valued at current market price on date of grant.
Form 4 Insider Transactions: What Each Field Means →
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*
Hevert Robert 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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Pres. & Chief Admin Officer
3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026
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, no par value 01/27/2026 A 3,740 A $0(1) 0 D
Common stock, no par value 01/27/2026 A 3,740 A $0(2) 0 D
Common stock, no par value 01/27/2026 A 90 A $50(3) 35,465.35(4) 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
Contingent grant of common stock (5) 01/27/2026 A 1,870 (5) (5) Common stock 1,870 (5) 5,120 D
Explanation of Responses:
1. Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest 25% per year over four years from date of grant. Shares will be valued at current market price on date of vesting.
2. Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares generally will vest after three-year performance period based on the attainment of certain performance thresholds of certain performance goals. Shares will be valued at current market price on date of vesting.
3. Shares were granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Shares were granted at the conclusion of 2023-2025 performance period based on the attainment of certain performance thresholds of certain performance goals. Shares were valued at current market price on date of grant. The balance of the contingent grant for such performance period terminated.
4. Includes 211.965 shares of common stock acquired on February 28, 2025, 224.671 shares of common stock acquired on May 30, 2025, 258.497 shares of common stock acquired on August 28, 2025 and 249.233 shares of common stock acquired on November 28, 2025, in each case resulting from the reinvestment of dividends pursuant to Unitil Corporation's Dividend reinvestment and Stock Purchase Plan.
5. Shares may be granted pursuant to the Unitil Corporation Third Amended and Restated 2003 Stock Plan. Any such shares would be granted after a three-year performance period ending on December 31, 2028, based on the attainment of certain performance thresholds of certain performance goals. Any such shares would be valued at current market price on date of grant.
/s/ Thomas P. Meissner, Jr., attorney-in-fact for Robert B. Hevert 01/29/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What does the latest Form 4 for Unitil (UTL) insider Robert B. Hevert show?

The Form 4 shows equity awards and a share grant for Unitil’s Pres. & Chief Admin Officer Robert B. Hevert on January 27, 2026. These include time-based and performance-based stock granted under Unitil’s Third Amended and Restated 2003 Stock Plan.

How many Unitil (UTL) shares were granted to Robert B. Hevert and on what terms?

Hevert received 3,740 common shares that generally vest 25% per year over four years and 3,740 performance-based shares that generally vest after a three-year performance period. All were granted under Unitil’s Third Amended and Restated 2003 Stock Plan.

What performance-based Unitil (UTL) stock awards are tied to the 2023–2025 period and beyond?

Hevert received 90 shares of common stock at $50 per share granted at the conclusion of the 2023–2025 performance period, based on achieving specified performance thresholds. A contingent grant of 1,870 derivative shares is linked to a three-year period ending December 31, 2028.

How many Unitil (UTL) shares does Robert B. Hevert beneficially own after these transactions?

After the reported transactions, Hevert beneficially owned 35,465.35 shares of Unitil common stock directly and 5,120 derivative securities representing contingent stock-based awards. The common stock total includes shares accumulated through dividend reinvestment in Unitil’s Dividend Reinvestment and Stock Purchase Plan.

How were dividend reinvestments reflected in Robert B. Hevert’s Unitil (UTL) holdings?

The filing notes that his common stock total includes 211.965 shares, 224.671 shares, 258.497 shares, and 249.233 shares acquired on four dates in 2025, all through dividend reinvestments under Unitil’s Dividend Reinvestment and Stock Purchase Plan.

Under what plan were the Unitil (UTL) equity awards to Robert B. Hevert granted?

All the reported awards were made under the Unitil Corporation Third Amended and Restated 2003 Stock Plan. This plan provides for time-based vesting, three-year performance-based vesting, and longer performance periods with shares valued at current market price on vesting or grant dates.