David P. Bauer - 01 Dec 2025 Form 4 Insider Report for NATIONAL FUEL GAS CO (NFG)

Signature
J. P. Baetzhold, Attorney in Fact
Issuer symbol
NFG
Transactions as of
01 Dec 2025
Transactions value $
$94,469
Form type
4
Filing time
03 Dec 2025, 15:39:44 UTC
Previous filing
12 Sep 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Bauer David P President and CEO, Director 6363 MAIN STREET, WILLIAMSVILLE J. P. Baetzhold, Attorney in Fact 03 Dec 2025 0001495829

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NFG Common Stock Options Exercise +6.85K +9.5% 78.9K 01 Dec 2025 Direct F1
transaction NFG Common Stock Tax liability -$20K -243 -0.31% $82.38 78.7K 01 Dec 2025 Direct F2
transaction NFG Common Stock Disposed to Issuer -6.6K -8.4% 72K 01 Dec 2025 Direct F3
holding NFG Common Stock 15.3K 01 Dec 2025 401K Trust F4
holding NFG Common Stock 1.13K 01 Dec 2025 Held by daughter F5
holding NFG Common Stock 1.13K 01 Dec 2025 Held by daughter F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction NFG Deferred Stock Units Other $114K +1.33K +0.62% $86.21 215K 15 Oct 2025 Common Stock 1.33K Direct F6, F7, F8
transaction NFG Restricted Stock Units Options Exercise $0 -6.85K -100% $0.00 0 01 Dec 2025 Common Stock 6.85K Direct F1, F9
transaction NFG Deferred Stock Units Award +6.6K +3.07% 222K 01 Dec 2025 Common Stock 6.6K Direct F3, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 On December 1, 2025, the reporting person had 243 shares withheld and cancelled in respect of taxes in connection with the vesting of restricted stock units. These share cancellations are shown on Table I as dispositions (Transaction Code "D" in Column 4), although none of these cancelled shares were sold into the market, as indicated by Transaction Code "F" in Column 3.
F3 In connection with the vesting on December 1, 2025 of restricted stock units previously granted to the reporting person, the reporting person's receipt of 6,603 shares of common stock was deferred, resulting in the reporting person's receipt instead of 6,603 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 6,603 shares of common stock in exchange for an equal number of deferred stock units.
F4 The NFG stock fund under the NFG 401(k) plan is denominated in units, representing ownership interests in a fund that includes both NFG common stock and a reserve of cash. The information reported represents the dollar value of the reporting person's balance in the NFG stock fund as of December 1, 2025, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.
F5 Includes 7 shares acquired on October 15, 2025 through a dividend reinvestment plan, exempt under Rule 16a-11.
F6 Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11.
F7 Each deferred stock unit is the economic equivalent of one share of common stock.
F8 The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service, pursuant to the reporting person's distribution election under National Fuel Gas Company's Deferred Compensation Plan for Directors and Officers.
F9 On December 1, 2022, the reporting person was granted 20,536 restricted stock units, vesting as follows: 6,845 on December 1, 2023, 6,845 on December 1, 2024, and 6,846 on December 1, 2025.