Sarah J. Mugel - 01 Dec 2022 Form 4 Insider Report for NATIONAL FUEL GAS CO (NFG)

Role: General Counsel and Secretary
Signature: J. P. Baetzhold, Attorney in Fact
Issuer symbol: NFG
Transactions as of: 01 Dec 2022
Net transactions value: -$127,456
Form type: 4
Filing time: 05 Dec 2022, 16:26:37 UTC
Previous filing: 16 Dec 2022
Next filing: 13 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NFG	Common Stock	Award	$0	+2,873	+13%	$0.000000	24,306	01 Dec 2022	Direct
transaction	NFG	Common Stock	Tax liability	$68,296	-1,036	-4.3%	$65.92	23,270	01 Dec 2022	Direct	F1
transaction	NFG	Common Stock	Award	$0	+1,861	+8%	$0.000000	25,131	01 Dec 2022	Direct
transaction	NFG	Common Stock	Tax liability	$44,234	-671	-2.7%	$65.92	24,460	01 Dec 2022	Direct	F2
transaction	NFG	Common Stock	Options Exercise		+642	+2.6%		25,102	02 Dec 2022	Direct	F3
transaction	NFG	Common Stock	Tax liability	$14,926	-232	-0.92%	$64.34	24,870	02 Dec 2022	Direct	F4
holding	NFG	Common Stock						202	01 Dec 2022	401K Trust	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	Restricted Stock Units	Award	$0	+1,878		$0.000000	1,878	01 Dec 2022	Common Stock	1,878		Direct	F6, F7
transaction	NFG	Restricted Stock Units	Options Exercise	$0	-642	-33%	$0.000000	1,286	02 Dec 2022	Common Stock	642		Direct	F3, F8

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

Explanation of Responses:

Id	Content
F1	On December 1, 2022, the reporting person had 1,036 shares withheld and cancelled to cover minimum required tax withholdings due to the vesting of performance shares. 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.
F2	On December 1, 2022, the reporting person had 671 shares withheld and cancelled to cover minimum required tax withholdings due to the vesting of performance shares. 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	Restricted stock units convert into common stock on a one-for-one basis.
F4	On December 2, 2022, the reporting person had 232 shares withheld and cancelled to cover minimum required tax withholdings due to 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.
F5	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 2, 2022, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.
F6	Each restricted stock unit represents a contingent right to receive one share of NFG common stock.
F7	On December 1, 2022, the reporting person was granted 1,878 restricted stock units, vesting as follows: 626 on December 1, 2023, 626 on December 1, 2024, and 626 on December 1, 2025.
F8	On December 2, 2021, the reporting person was granted 1,928 restricted stock units, vesting as follows: 642 on December 2, 2022, 643 on December 2, 2023, and 643 on December 2, 2024.