Fagg Karen B 4

What Happened
Karen B. Fagg, a director of Knife River Corp (KNF), was granted 197.479 units of phantom stock on 2026-06-30. The units are valued at $89.25 each for a total economic value of $17,625. The grant is reported as a derivative award (transaction code A), not an open-market purchase of common stock.

Key Details

• Transaction date: 2026-06-30; filing date: 2026-07-01 (Form 4 accession 0001225208-26-006292).
• Award: 197.479 phantom stock units at $89.25 per unit; total reported value $17,625.
• Transaction type/code: A (award/grant), reported as a derivative.
• Shares owned after transaction: not disclosed in the filing.
• Footnote: Each phantom stock unit is the economic equivalent of one common share and becomes payable in cash when the director’s service ends (see footnote F1).
• Timeliness: Filing appears timely (submitted the business day after the award).

Context
Phantom stock is a deferred cash award tied to the value of the company’s common shares; it does not transfer actual shares or immediate voting power. Such director grants are common as compensation and are informational rather than a direct market buy or sell signal.