Hevert Robert B 4

What Happened
Robert B. Hevert, President & Chief Administrative Officer of Unitil Corporation (UTL), was granted a total of 9,440 shares on January 27, 2026 via awards under the company’s 2003 Stock Plan. The filing lists four award lines: two grants of 3,740 shares each at $0.00 (no cash paid at grant), one grant of 90 shares at $50.00 (value $4,500), and one 1,870-share entry reported as a derivative/contingent award (price N/A). These were awards/grants (Form 4 code A), not open-market purchases or sales.

Key Details

• Transaction date: January 27, 2026; Form 4 filed January 29, 2026 (filed within the typical two-business-day window).
• Award lines: 3,740 shares @ $0.00; 3,740 shares @ $0.00; 90 shares @ $50.00 (total $4,500); 1,870 shares (derivative/contingent, price N/A).
• Shares owned after transaction: not specified in the provided filing details.
• Notable footnotes:
  • Some shares are time-based RSU-style awards (vest 25% per year over four years).
  • Some shares are performance-based awards that vest after a three-year performance period (including a grant settled at the conclusion of the 2023–2025 performance period).
  • Shares are to be valued at current market price on vesting/grant as noted.
  • Footnotes also reference prior dividend reinvestment activity and possible future contingent grants through 2028.
• Filing timeliness: Filing appears timely (filed two days after the transactions).

Context
These are compensation awards (time- and performance-based) rather than open-market buys or sales. Such grants are a routine way companies compensate and retain executives and do not, by themselves, indicate the insider is buying stock as a personal investment. Performance-based and contingent awards will only convert to vested shares if specified goals or vesting schedules are met.