HORSFALL JAN ROBERT 4

What Happened Jan Robert Horsfall, a non-employee director of NorthWestern Energy Group, Inc. (NWE), received a grant of 581 shares (transaction code A — award/grant) on 2026-02-03. The grant is valued at $64.54 per share, for a total reported value of $37,498. The award was granted under the company’s 2026 compensation schedule for non-employee directors and was issued as deferred share units.

Key Details

• Transaction date: 2026-02-03 (reported on Form 4 filed 2026-02-04) — filing appears timely.
• Shares granted: 581 at $64.54 per share; total value $37,498.
• Grant issued as deferred share units (DSUs); underlying DSUs are issuable after the reporting person’s termination of service (footnote F2).
• Grant price was set as of 12/31/2025 and shares were issued as DSUs on 2026-02-02 (footnote F3).
• Grant includes shares acquired via dividend reinvestment (footnote F4).
• Shares owned after the transaction: not specified in the filing.

Context This was a routine director compensation award (not an open-market purchase or sale). Awards issued as deferred share units typically vest or convert to stock upon a director’s departure and are common for non-employee director pay; they do not necessarily indicate a personal buy/sell sentiment.