HARTSFIELD KAREN E 4

What Happened

• Karen E. Hartsfield, a Senior Advisor at Atmos Energy (ATO), exercised/converted derivative awards to acquire 2,815 shares on May 2, 2026. She paid $189.74 per share (total cash outlay $534,118). To satisfy tax withholding obligations, 1,042 of those shares were withheld (valued at ~$197,709), leaving a net of 1,773 shares delivered to her.

Key Details

• Transaction date: May 2, 2026; Form 4 filed May 4, 2026 (appears timely).
• Exercise price / value: $189.74 per share; total exercise cost $534,118.
• Shares withheld for taxes: 1,042 shares (tax-withholding under the 1998 Long-Term Incentive Plan).
• Net shares received: 2,815 acquired − 1,042 withheld = 1,773 net shares.
• The filing shows a derivative conversion/settlement entry for 2,815 units (reflecting the option/award conversion to common stock).
• Shares owned after the transaction: not disclosed in the provided excerpt.
• Relevant footnotes: withheld shares satisfy tax obligations under the Plan; restricted share units had vested and were delivered per the Plan.

Context

• Code M indicates exercise/conversion of a derivative (stock option or similar). Code F indicates shares were withheld to cover tax liabilities — a common, routine way executives meet tax obligations when awards vest or are exercised.
• This transaction is an exercise (not an open-market purchase or a sale). Because a portion of shares was withheld for taxes, the transaction includes a partial cashless element for tax purposes; the remainder appears retained by the insider.