Jason Merkel - 27 Feb 2026 Form 4 Insider Report for NorthWestern Energy Group, Inc. (NWE)

Role: VP - Distribution
Signature: Emily L. Folsom, by power of attorney
Issuer symbol: NWE
Transactions as of: 27 Feb 2026
Net transactions value: +$91,107
Form type: 4
Filing time: 02 Mar 2026, 16:03:05 UTC
Previous filing: 23 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Merkel Jason	VP - Distribution	1313 NORTH LAST CHANCE GULCH, HELENA	Emily L. Folsom, by power of attorney	02 Mar 2026	0001945750

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NWE	Common Stock	Award	$91,107	+1,331	+28%	$68.45	6,077	27 Feb 2026	Direct	F1, F2
transaction	NWE	Common Stock	Tax liability	$0	-461	-7.6%	$0.000000	5,616	27 Feb 2026	Direct

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

Explanation of Responses:

Id	Content
F1	Shares acquired upon 12/31/25 vesting of performance units granted under the company's 2023 Long-Term Incentive Program.
F2	Share price is the closing share price on 2/11/26, the date when the company's Board of Directors approved payout and vesting of the award.