Ranich Rebecca 4

What Happened

• Rebecca Ranich, a director of National Fuel Gas Co. (NFG), recorded acquisitions totaling 700 shares/stock units. On Jan 15 she acquired 116 shares via dividend reinvestment ($9,492) and 115 deferred stock units ($9,348). On Apr 1 she received a 469-share grant of deferred stock units under the non‑employee director plan valued at about $43,753. These transactions are acquisitions (awards/dividend reinvestment), i.e., purchases/compensation rather than sales.

Key Details

• Transaction dates and prices:
  • 2026-01-15: 116 shares at $81.83 (acquired) — $9,492 (dividend reinvestment).
  • 2026-01-15: 115 deferred units at $81.29 (acquired) — $9,348 (deferred comp feature).
  • 2026-04-01: 469 deferred units at $93.29 (grant/award) — $43,753 (quarterly director grant).
• Total value of reported acquisitions ≈ $62,593.
• Shares owned after the transactions: not specified in this Form 4.
• Filing date: Form 4 filed Apr 2, 2026, reporting transactions through Apr 1, 2026.
• Notable footnotes:
  • Dividend reinvestments are reported as exempt under Rule 16a‑11 (F1, F2).
  • Deferred stock units are economic equivalents of shares and become payable in shares after the director leaves service per the Deferred Compensation Plan (F3).
  • The Apr 1 grant was issued under the 2009 Non‑Employee Director Equity Compensation Plan and deferred per the director’s election (F4).

Context

• These are routine director compensation items and dividend reinvestments, not open‑market purchases; deferred stock units represent future share payments rather than immediately transferable common stock.
• Purchases/awards by insiders can be read positively, but these transactions are standard plan-based compensation and reinvestment activity rather than a discretionary open-market buy.