Form 4: National Fuel Gas CIO Reports Stock and Unit Transactions
Insider Trading Report
National Fuel Gas Chief Information Officer Martin A. Krebs disclosed multiple transactions involving common stock and deferred stock units.
Summary
- Martin A. Krebs, Chief Information Officer of National Fuel Gas Co (NFG), reported various transactions in NFG common stock and deferred stock units.
- On August 25, 2025, Krebs transferred out 2,409 units of Common Stock from the NFG 401(k) plan, valued at $86.73 per share.
- Acquisitions of Common Stock through dividend reinvestment occurred on January 15, 2025 (31 shares at $66.228), April 15, 2025 (26 shares at $78.177), and July 15, 2025 (24 shares at $89.33).
- On September 10, 2025, 490 performance shares vested and were received as Common Stock, which were immediately exchanged for 490 Deferred Stock Units.
- Deferred Stock Units were also acquired through dividend reinvestment on January 15, 2025 (142 units at $66.35), April 15, 2025 (122 units at $78.02), and July 15, 2025 (112 units at $88.82).
- As of September 10, 2025, Krebs directly beneficially owned 4,058 shares of Common Stock and 19,181 Deferred Stock Units.
- An indirect beneficial ownership of 20 Common Stock units was held in the 401(k) Trust as of September 10, 2025.
Sentiment
Score: 5
Explanation: The sentiment is neutral as this is a routine disclosure of insider transactions, which includes both acquisitions (dividend reinvestment, performance share vesting) and dispositions (401k transfer out, deferral of vested shares). There are no extraordinary positive or negative events reported.
Positives
- Acquisition of 81 shares of Common Stock through dividend reinvestment, indicating continued investment in the company.
- Vesting of 490 performance shares, demonstrating achievement of performance targets.
- Acquisition of 376 Deferred Stock Units through dividend reinvestment, increasing long-term equity exposure.
Negatives
- Disposition of 2,409 Common Stock units from the 401(k) plan, representing a reduction in indirect holdings.
- Exchange of 490 vested Common Stock shares for Deferred Stock Units, deferring immediate ownership of common stock.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This filing is a routine disclosure of an insider's stock transactions and does not provide information relevant to broader industry trends or competitive landscape.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Martin A. Krebs granted a Power of Attorney to several individuals (Lee E. Hartz, Kenneth E. Webster, Meghan A. Corcoran, James P. Baetzhold, Kathryn M. Nikisch-Hoffman, and Robin L. Maczka) to act as his attorney-in-fact for SEC filings and EDGAR system management. This includes preparing and executing Forms 3, 4, 5, Schedules 13D and 13G, and Forms 144. | 08/04/2025 | Streamlines the process for Martin A. Krebs to comply with SEC reporting obligations by delegating the administrative tasks of preparing and filing required forms. This is a standard practice for corporate officers. |
Related Party Transactions
- The transactions involve an officer of National Fuel Gas Company (Martin A. Krebs) and the company's securities, which are inherently related-party dealings. These include participation in the company's 401(k) plan, dividend reinvestment plan, and deferred compensation plan for directors and officers.
Stakeholder Impact
- Shareholders: Minimal direct impact from these routine insider transactions. The disclosure provides transparency into an officer's equity holdings and compensation structure.
- Employees: No direct impact on general employees, though the 401(k) and deferred compensation plans are part of executive compensation.
Next Steps
- Deferred Stock Units become payable in shares of common stock after the reporting person's termination of service, pursuant to their distribution election under the Deferred Compensation Plan.
Key Dates
| Date | Description |
|---|---|
| 08/04/2025 | Date Power of Attorney was executed by Martin A. Krebs. |
| 01/15/2025 | Acquisition of Common Stock and Deferred Stock Units through dividend reinvestment. |
| 04/15/2025 | Acquisition of Common Stock and Deferred Stock Units through dividend reinvestment. |
| 07/15/2025 | Acquisition of Common Stock and Deferred Stock Units through dividend reinvestment. |
| 08/25/2025 | Disposition of Common Stock from 401(k) Trust. |
| 09/10/2025 | Vesting of performance shares, acquisition and disposition of Common Stock, and acquisition of Deferred Stock Units. |
| 09/12/2025 | Date Form 4 was signed by J. P. Baetzhold, Attorney in Fact. |
Keywords
National Fuel Gas, NFG, Martin A. Krebs, Chief Information Officer, Insider Trading, Form 4, Common Stock, Deferred Stock Units, Dividend Reinvestment, 401K, Performance Shares
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