Carl C. Icahn - Mar 21, 2023 Form 4 Insider Report for Southwest Gas Holdings, Inc. (SWX)

Role: 10%+ Owner
Signature: CARL C. ICAHN /s/ Carl C. Icahn
Stock symbol: SWX
Transactions as of: Mar 21, 2023
Transactions value $: $31,627,639
Form type: 4
Date filed: 3/23/2023, 04:52 PM
Previous filing: Mar 17, 2023
Next filing: Mar 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SWX	Common Stock, $1.00 par value per share ("Shares")	Purchase	$1.2M	+19.8K	+0.2%	$60.63	9.71M	Mar 21, 2023	Please see footnotes	F1, F2, F3, F4, F5, F6
transaction	SWX	Shares	Purchase	$5.94M	+97.8K	+1.01%	$60.68	9.81M	Mar 22, 2023	Please see footnotes	F1, F2, F3, F4, F5, F6
transaction	SWX	Shares	Purchase	$24.5M	+407K	+4.16%	$60.11	10.2M	Mar 23, 2023	Please see footnotes	F1, F2, F3, F4, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This Form 4 is being filed by, and on behalf of, Mr. Carl C. Icahn, Icahn Partners LP ("Icahn Partners") and Icahn Partners Master Fund LP ("Icahn Master," and, collectively with Mr. Icahn and Icahn Partners, the "Reporting Persons").
F2	Beckton Corp. ("Beckton") is the sole stockholder of Icahn Enterprises G.P. Inc. ("Icahn Enterprises GP"), which is the general partner of Icahn Enterprises Holdings L.P. ("Icahn Enterprises Holdings"). Icahn Enterprises Holdings is the sole member of IPH GP LLC ("IPH"), which is the general partner of Icahn Capital LP ("Icahn Capital"). Icahn Capital is the general partner of each of Icahn Onshore LP ("Icahn Onshore") and Icahn Offshore LP ("Icahn Offshore"). Icahn Onshore is the general partner of Icahn Partners. Icahn Offshore is the general partner of Icahn Master.
F3	Beckton is 100 percent owned by Mr. Icahn. As such, Mr. Icahn is in a position indirectly to determine the investment and voting decisions made by each of Icahn Partners and Icahn Master.
F4	Each of Icahn Onshore, Icahn Capital, IPH, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton, and Mr. Icahn may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under Securities Exchange Act of 1934, as amended), the Shares of Southwest Gas Holdings, Inc. that Icahn Partners owns. Each of Icahn Onshore, Icahn Capital, IPH, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton, and Mr. Icahn disclaims beneficial ownership of such Shares except to the extent of their pecuniary interest therein, if any.
F5	Each of Icahn Offshore, Icahn Capital, IPH, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton, and Mr. Icahn may be deemed to indirectly beneficially own the Shares which Icahn Master owns. Each of Icahn Offshore, Icahn Capital, IPH, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton, and Mr. Icahn disclaims beneficial ownership of such Shares except to the extent of their pecuniary interest therein, if any.
F6	Reflects Shares purchased in open market transactions. After giving effect to the transactions above, Icahn Partners directly beneficially owns 5,960,224 Shares and Icahn Master directly beneficially owns 4,252,846 Shares.