Form 4: NOG CFO Chad Allen Sells Shares for Tax Obligations

Northern Oil & Gas CFO Chad Allen disposed of 4,978 shares of common stock on December 29, 2025, to cover tax liabilities from restricted stock vesting.

Summary

• Chad W. Allen, the Chief Financial Officer (CFO) of Northern Oil & Gas, Inc. (NOG), reported a transaction involving the company's common stock.
• On December 29, 2025, Mr. Allen disposed of 4,978 shares of common stock.
• This disposal was a surrender of shares to pay taxes payable upon the vesting of restricted stock.
• The shares were disposed of at a price of $21.9 per share, reflecting the last closing price on or before the surrender date.
• Following this transaction, Mr. Allen beneficially owns 73,163 shares of Northern Oil & Gas common stock directly.
• The 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).

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale of shares to cover tax obligations upon the vesting of restricted stock, which is a common event for executives. It does not indicate a change in sentiment towards the company's performance or future.

Positives

• The underlying event, the vesting of restricted stock, represents a positive compensation event for the CFO.
• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-planned and non-discretionary sale.

Negatives

• The transaction resulted in a reduction of 4,978 shares from the CFO's direct beneficial ownership.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This is a routine insider transaction, common for executives whose compensation includes restricted stock units. The sale to cover tax obligations upon vesting is a standard practice and generally does not reflect a change in management's outlook on the company's prospects.

Corporate Governance

Stakeholder Impact

• Shareholders: A minor reduction in direct insider ownership, but for a routine and expected tax-related purpose, which typically has minimal impact on investor perception.
• Employees (specifically the CFO): The vesting of restricted stock represents a realization of compensation, aligning executive interests with long-term company performance.

Key Dates

Keywords

NOG, Northern Oil & Gas, Chad Allen, CFO, Form 4, insider transaction, stock sale, restricted stock, tax obligations, 10b5-1 plan