GARZA RAFAEL G 4

What Happened

• Rafael G. Garza, a director of Atmos Energy Corp (ATO), received a grant of 920.26 phantom stock units (derivative award) on 2026-03-06. The grant is valued at $184.73 per unit, totaling approximately $170,000. This is an award (code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-06; Form 4 filed: 2026-03-10 (timely filing).
• Grant: 920.26 phantom stock units at $184.73 per unit; aggregate value ≈ $170,000.
• Nature: Derivative award (phantom stock units) — each unit is equivalent to one share of common stock (Footnote F1).
• Plan and settlement: Units were granted under the 1998 Long-Term Incentive Plan and are to be settled upon the reporting person's termination of service on the Board (Footnote F2).
• Shares owned after transaction: Not specified in the filing.

Context

• Phantom stock units are a deferred compensation award that track the value of common shares and are typically settled in cash or stock at a later date (here, upon board service termination). This grant represents compensation, not an immediate cash purchase or sale of shares, and should be interpreted as part of director pay rather than a direct market signal.