Emerson Sarah A. 4

What Happened
Sarah A. Emerson, a director of Expand Energy Corp (EXE), was granted 2,331 shares on June 4, 2026. The award is reported at an acquisition price of $96.53 per share, for a total value of approximately $225,011. This transaction is coded as an award/grant (A), a form of compensation/acquisition rather than an open-market purchase.

Key Details

• Transaction date: 2026-06-04; Report filed: 2026-06-08 (filing appears to be late relative to the 2-business-day Form 4 deadline).
• Price per share: $96.53 (this represents the 30-day VWAP ending June 3, 2026; see footnote).
• Shares acquired: 2,331; reported aggregate value: $225,011.
• Post-transaction holdings: not specified in the filing.
• Footnote: F1 = VWAP over the 30 trading days ending June 3, 2026; used to value the award.
• Transaction code: A (award/grant).

Context
Stock awards to directors are typically part of compensation and do not necessarily indicate a buy or sell signal by the insider. Purchases are often considered more informative about an insider’s market view; grants primarily reflect company compensation practices. The late filing may be an administrative issue but is noted by regulators and investors.