Vold Jeanne 4

What Happened

• Jeanne Vold, Vice President – Technology at NorthWestern Energy (NWE), was issued 1,679 shares on 2026-02-27 upon vesting of performance units under the company's 2023 Long-Term Incentive Program. The filing values the award at $68.45 per share for a total of $114,928.
• Of the 1,679 shares issued, 478 shares were surrendered/withheld to satisfy tax withholding obligations (transaction code F), leaving a net issuance of 1,201 shares to Vold.

Key Details

• Transaction date: 2026-02-27; Form 4 filed: 2026-03-02 (filed timely).
• Award valuation price: $68.45 per share (closing price on 2026-02-11, the date the Board approved payout).
• Shares acquired: 1,679 (code A — award/grant); Shares withheld for taxes: 478 (code F).
• Net new shares to insider: 1,201 (1,679 issued − 478 withheld).
• Shares owned after the transaction: not specified in the filing.
• Footnotes: F1 — shares issued upon 12/31/2025 vesting of performance units from the 2023 LTIP; F2 — share price is the 2/11/26 closing price used to value the award.

Context

• This was a compensation vesting (performance units converting to shares), not an open-market purchase or a sale. The withholding of shares to cover taxes is a routine, non-market cashless tax-withholding method and does not indicate a sale for investment purposes.
• For retail investors, award vestings reflect company compensation practices and are common for executives; they are informative about pay realization but do not necessarily signal insider buying or selling sentiment.