David P. Bauer - 06 Dec 2023 Form 4 Insider Report for NATIONAL FUEL GAS CO (NFG)

Signature
J. P. Baetzhold, Attorney in Fact
Issuer symbol
NFG
Transactions as of
06 Dec 2023
Transactions value $
-$123,749
Form type
4
Filing time
08 Dec 2023, 16:31:25 UTC
Previous filing
05 Dec 2023
Next filing
12 Dec 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NFG Common Stock Award $0 +45.5K +61.82% $0.00 119K 06 Dec 2023 Direct
transaction NFG Common Stock Tax liability -$81.1K -1.61K -1.35% $50.33 117K 06 Dec 2023 Direct F1
transaction NFG Common Stock Award $0 +23.9K +20.33% $0.00 141K 06 Dec 2023 Direct
transaction NFG Common Stock Tax liability -$42.6K -847 -0.6% $50.33 140K 06 Dec 2023 Direct F2
transaction NFG Common Stock Disposed to Issuer -66.9K -47.63% 73.6K 06 Dec 2023 Direct F3
holding NFG Common Stock 13.8K 06 Dec 2023 401K Trust F4
holding NFG Common Stock 499 06 Dec 2023 Held by daughter
holding NFG Common Stock 499 06 Dec 2023 Held by daughter
holding NFG Common Stock 499 06 Dec 2023 Held by daughter

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 +29.1K $0.00 29.1K 06 Dec 2023 Common Stock 29.1K Direct F5, F6
transaction NFG Deferred Stock Units Award +66.9K +82% 148K 06 Dec 2023 Common Stock 66.9K Direct F3, F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 6, 2023, the reporting person had 1,612 shares withheld and cancelled in respect of taxes in connection with 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 6, 2023, the reporting person had 847 shares withheld and cancelled in respect of taxes in connection with 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 In connection with the vesting on December 6, 2023 of performance shares previously granted to the reporting person, the reporting person's receipt of 66,886 shares of common stock was deferred, resulting in the reporting person's receipt instead of 66,886 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 66,886 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 6, 2023, as reported by the plan administrator, divided by the closing price of NFG common stock on that date.
F5 Each restricted stock unit represents a contingent right to receive one share of NFG common stock.
F6 On December 6, 2023, the reporting person was granted 29,061 restricted stock units, vesting as follows: 9,687 on December 6, 2024, 9,687 on December 6, 2025, and 9,687 on December 6 2026.
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.