Form 4: Northwest Natural Holding Co: Executive Weber Acquires Shares Through RSU and Performance Share Awards
SEC Form 4 Filing
David A. Weber, VP of Gas Supply at Northwest Natural, acquired shares through the vesting of restricted stock units and performance share awards.
Summary
- On February 26, 2025, David A. Weber, VP of Gas Supply at Northwest Natural Holding Co, acquired 980 shares of common stock due to the satisfaction of the performance threshold for 2024 under restricted stock unit awards.
- Weber also acquired 1,214 shares of common stock due to the satisfaction of performance goals for 2022-2024 under a performance share award.
- Both transactions were priced at $0.
- Following these transactions, Weber directly owns 3,473.066 shares and indirectly owns 2,139.061 shares through the Deferred Compensation Plan and 19,910.393 shares through the Retirement K Savings Plan.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive as it reflects the vesting of previously awarded compensation based on performance, indicating the company is meeting its goals.
Positives
- The vesting of restricted stock units and performance share awards indicates that performance goals were met, which is a positive sign for the company's performance.
Industry Context
Executive compensation through stock awards is a common practice in publicly traded companies to align management's interests with those of shareholders.
Comparison to Industry Standards
- Comparing Weber's stock ownership to executives at similar utilities companies like Atmos Energy (ATO) or Southwest Gas (SWX) could provide context on whether his holdings are typical for his role and company size.
- Reviewing the proxy statements of these companies would reveal the structure and vesting schedules of their executive compensation packages, allowing for a comparison of performance-based incentives.
Stakeholder Impact
- The vesting of shares aligns executive interests with shareholder value, potentially benefiting shareholders.
- The vesting of shares is part of the executive's compensation, impacting their personal financial situation.
Key Dates
| Date | Description |
|---|---|
| 02/14/2025 | Date shares held in reporting person's account under Northwest Natural Gas Company's Retirement K Savings Plan were calculated. |
| 02/26/2025 | Date of transaction for acquisition of shares through restricted stock units and performance share awards. |
| 02/28/2025 | Date of signature on the Form 4 filing. |
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