Form 4: NFG Officer Hartz Reports Routine Stock Transactions
Insider Transaction Report
National Fuel Gas Co. Secretary and General Counsel Lee E. Hartz reported routine acquisitions and dispositions of company common stock, including RSU vesting and tax-related withholdings.
Summary
- Lee E. Hartz, Secretary and General Counsel of National Fuel Gas Co. (NFG), reported several transactions involving NFG common stock.
- On October 15, 2025, Hartz acquired 96 shares of common stock at $86.221 through a dividend reinvestment plan.
- On December 1, 2025, 313 restricted stock units (RSUs) vested and converted into 313 shares of common stock.
- Concurrently on December 1, 2025, 160 shares were withheld and cancelled for tax obligations related to the RSU vesting, at a price of $82.38 per share.
- Following these transactions, Hartz directly beneficially owns 15,711 shares of common stock.
- Additionally, Hartz indirectly holds 2,509 shares through the NFG 401(k) Trust as of December 1, 2025.
Sentiment
Score: 6
Explanation: The sentiment is neutral to slightly positive. While there was a disposition of shares, it was for tax purposes related to RSU vesting, which is a common and expected event. The acquisition of shares through dividend reinvestment is a positive sign of continued investment by an insider.
Positives
- Acquisition of 96 shares through dividend reinvestment, increasing direct holdings.
- Vesting of 313 restricted stock units, converting into common stock and increasing direct ownership before tax withholding.
Negatives
- Disposition of 160 shares for tax withholding purposes, reducing direct holdings.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Minimal impact on shareholders as these are routine insider transactions and do not indicate a significant shift in company strategy or financial health.
Key Dates
| Date | Description |
|---|---|
| 12/01/2022 | Grant date of 937 restricted stock units to Lee E. Hartz. |
| 12/01/2023 | Vesting date for 312 restricted stock units. |
| 12/01/2024 | Vesting date for 312 restricted stock units. |
| 10/15/2025 | Acquisition of 96 common shares via dividend reinvestment plan. |
| 12/01/2025 | Vesting date for 313 restricted stock units, conversion to common stock, and withholding of 160 shares for taxes. Also, the date for 401(k) plan balance calculation. |
| 12/03/2025 | Signature date of the Form 4 filing. |
Recommendation
holdThis Form 4 filing details routine insider transactions, including the vesting of restricted stock units and dividend reinvestment, along with associated tax withholdings. Such transactions are common for corporate officers and do not typically signal a material change in the company's fundamentals or future prospects. Therefore, based solely on this filing, a 'hold' recommendation is appropriate as there is no new information to warrant a change in investment thesis.
Keywords
National Fuel Gas Co, NFG, Lee E. Hartz, Insider Trading, Form 4, Common Stock, Restricted Stock Units, Dividend Reinvestment, Officer Transactions
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