Gabe Randall P. 4

What Happened

• Gabe P. Randall, Senior Vice President & Chief Administrative Officer of Southwest Gas Holdings (SWX), was reported as receiving two equity awards on Feb 19, 2026: 2,340.236 restricted stock units (RSUs) and 5,768.6 performance/settled stock units (PSUs). Both transactions are reported as acquisitions (code A) at $0.00 per unit (no cash paid).

Key Details

• Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (filed within the two-business-day window).
• Price reported: $0.00 per unit; total units awarded: 8,108.836 (2,340.236 RSUs + 5,768.6 PSUs).
• Shares owned after transaction: not specified in the provided filing.
• Footnotes from the filing:
  • F1: Each RSU converts to one share if/when vested; RSUs vest in three annual installments (40% / 30% / 30%) with continued service.
  • F2: The PSUs were settled and delivered to the reporting person three years after the grant date due to satisfaction of performance goals.
• Transaction code: A = Award/Grant (part of compensation, not an open-market buy or sell).

Context

• RSUs are compensation that convert to common stock as they vest; PSUs are performance-based and here were settled after achieving goals. These awards reflect company compensation actions rather than an insider buying or selling shares in the open market, so they should be interpreted as routine equity compensation unless combined with other trading activity.