Palfreyman Justin 4

What Happened

• Justin Palfreyman, President & CEO (and Director) of Northwest Natural Holding Co (NWN), was issued a total of 14,345 shares as awards on Feb 25, 2026. The filing shows two grant/acquisition entries: 8,059 shares and 6,286 shares, each at $0.00 per share (awarded, not purchased). No cash was paid for these shares; they were issued/credited following committee certification of performance results.

Key Details

• Transaction date: 2026-02-25; Form 4 filed: 2026-02-27 (appears timely).
• Shares issued: 8,059 (award 1) + 6,286 (award 2) = 14,345 total.
• Price: $0.00 per share (awarded/granted; not an open-market purchase).
• Shares owned after the transaction: not disclosed in the filing.
• Footnotes / notes from filing:
  • F1: 8,059 shares issued upon satisfaction of the 2025 performance threshold for restricted stock units; committee certification occurred on the transaction date.
  • F2: 6,286 shares issued for satisfaction of 2023–2025 performance goals under a performance share award and credited to the reporting person’s account under the company’s Deferred Compensation Plan per a prior election; committee certification occurred on the transaction date.
  • F3: Shares have been credited to the reporting person’s Deferred Compensation Plan account.
• Transaction code: A (award/grant).

Context

• These were compensation awards (performance-based restricted stock / performance share awards) and not open-market purchases or sales. Such grants reflect company compensation decisions after certification of performance goals and are different from insider buying/selling that may signal personal conviction. They increase the CEO’s holdings but do not involve an outlay of cash by the insider.