Form 4: NFG Controller Reports Routine Stock Transactions

National Fuel Gas Co.'s Controller and Chief Accounting Officer, Elena G. Mendel, reported the acquisition of common stock through dividend reinvestment and the vesting of restricted stock units, alongside tax-related dispositions.

Summary

• Elena G. Mendel, Controller & Chief Accounting Officer of National Fuel Gas Co. (NFG), reported changes in her beneficial ownership.
• Acquired 73 shares of Common Stock on October 15, 2025, at $86.221 per share through a dividend reinvestment plan, which is exempt under Rule 16a-11.
• Acquired 319 shares of Common Stock on December 1, 2025, due to the vesting of restricted stock units, which convert on a one-for-one basis.
• Disposed of 163 shares of Common Stock on December 1, 2025, at $82.38 per share for tax withholding in connection with the vesting of restricted stock units. These shares were cancelled and not sold into the market.
• Beneficially owns 11,984 shares directly following these transactions.
• Indirectly owns 7,408 shares through the NFG 401(k) plan, representing ownership interests in a fund that includes NFG common stock and cash, valued as of December 1, 2025.

Sentiment

Score: 5

Explanation: Neutral. The filing reports routine insider transactions (RSU vesting, tax withholding, dividend reinvestment) which are expected and do not indicate significant positive or negative sentiment regarding the company's prospects.

Positives

• Acquisition of 73 shares through dividend reinvestment, indicating continued investment in the company.
• Vesting of 319 restricted stock units, converting into common stock, reflects the successful fulfillment of equity compensation terms.

Negatives

• Disposition of 163 shares for tax withholding, which is a routine event but reduces direct beneficial ownership.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides transparency on insider stock ownership changes, which are routine and expected for equity compensation plans.

Key Dates

Keywords

National Fuel Gas Co., NFG, Form 4, Insider Trading, Stock Ownership, Restricted Stock Units, Equity Compensation, Dividend Reinvestment, Elena G. Mendel