Berzina Jeffrey B. 4

What Happened
Jeffrey B. Berzina, Controller of NorthWestern Energy Group, received 938 shares on 2026-02-27 as a vesting payout of performance units under the company's 2023 Long‑Term Incentive Program. The award is valued at $68.45 per share (company closing price used for valuation), totaling $64,206. To cover tax withholding, 278 of those shares were surrendered, leaving a net 660 shares delivered to Berzina.

Key Details

• Transaction date: 2026-02-27 (reported on Form 4 filed 2026-03-02 — timely filing).
• Award details: 938 shares acquired (code A — award/vesting); valuation price used $68.45 per share (footnote). Total value shown $64,206.
• Tax withholding: 278 shares withheld/disposed (code F) to satisfy tax liabilities; those withheld shares are shown with $0 proceeds in the filing but are valued at $68.45/share for payout purposes (≈ $19,029).
• Net shares delivered to insider: 660 shares (938 − 278).
• Vesting background: Shares resulted from performance units that vested on 12/31/2025 under the 2023 LTIP (footnote).
• Shares owned after transaction: Not specified numerically in the filing; footnote notes total includes shares from the Employee Stock Purchase Plan (ESPP).

Context
This was not an open‑market buy or sell but a standard equity compensation vesting event (performance units converting to shares). The withholding of shares to cover taxes is routine and does not reflect an open‑market sale. The filing appears timely under Form 4 rules.