Form 4: National Fuel Gas Co. Director David Hugo Anderson Reports Acquisition of Common Stock and Deferred Stock Units

Director David Hugo Anderson reported acquiring common stock through a dividend reinvestment plan and deferred stock units through compensation plans.

Summary

• On July 15, 2024, David Hugo Anderson acquired 1 share of Common Stock at $57.358 through a dividend reinvestment plan.
• On July 15, 2024, Anderson acquired 118 Deferred Stock Units through the dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.
• On October 1, 2024, Anderson acquired 725 Deferred Stock Units through a quarterly grant under the National Fuel Gas Company 2009 Non-Employee Director Equity Compensation Plan.
• Following these transactions, Anderson directly owns 5,173 shares of Common Stock and indirectly owns 210 shares through the Anderson Family Trust.
• Anderson also directly owns 14,642 Deferred Stock Units.

Sentiment

Score: 7

Explanation: The document reflects standard director compensation practices and stock ownership, indicating a neutral to slightly positive sentiment due to continued alignment of director interests with shareholders.

Positives

• The acquisitions of common stock and deferred stock units reflect continued participation in company compensation and dividend reinvestment plans.

Future Outlook

The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service as a director, pursuant to the reporting person's distribution election under the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers.

Industry Context

This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.

Comparison to Industry Standards

• Director compensation packages, including deferred stock units, are a standard practice among publicly traded companies like National Fuel Gas Co.
• Companies such as NiSource, ONE Gas, and UGI Corporation also utilize similar equity-based compensation plans for their directors.
• The amounts and terms of these plans are generally benchmarked against peer companies to attract and retain qualified board members.

Stakeholder Impact

• The transactions demonstrate the director's continued investment in the company, which can be viewed positively by shareholders.

Key Dates