David P. Bauer - 01 Dec 2022 Form 4 Insider Report for NATIONAL FUEL GAS CO (NFG)

Footnote F1

On December 1, 2022, the reporting person had 911 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.

Footnote F10

Each deferred stock unit is the economic equivalent of one share of common stock.

Footnote F11

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.

Footnote F12

On December 2, 2021, the reporting person was granted 19,164 restricted stock units, vesting as follows: 6,388 on December 2, 2022, 6,388 on December 2, 2023, and 6,388 on December 2, 2024.

Footnote F2

On December 1, 2022, the reporting person had 590 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.

Footnote F3

In connection with the vesting on December 1, 2022 of performance shares previously granted to the reporting person, the reporting person's receipt of 40,807 shares of common stock was deferred, resulting in the reporting person's receipt instead of 40,807 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 40,807 shares of common stock in exchange for an equal number of deferred stock units.

Footnote F4

Restricted stock units convert into common stock on a one-for-one basis.

Footnote F5

On December 2, 2022, the reporting person had 227 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.

Footnote F6

In connection with the vesting on December 2, 2022 of restricted stock units previously granted to the reporting person, the reporting person's receipt of 6,161 shares of common stock was deferred, resulting in the reporting person's receipt instead of 6,161 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 6,161 shares of common stock in exchange for an equal number of deferred stock units.

Footnote F7

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.

Footnote F8

Each restricted stock unit represents a contingent right to receive one share of NFG common stock.

Footnote 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.