Merkel Jason 4

What Happened
Jason Merkel, Vice President — Distribution at NorthWestern Energy Group (NWE), had 206 shares disposed on January 22, 2026 as payment for tax liability related to an equity award/option exercise. The shares were valued at $64.54 each, for a total of about $13,295. This was a withholding/disposition to satisfy taxes (routine), not an open-market sale intended as investment liquidation.

Key Details

• Transaction date and price: 2026-01-22; 206 shares at $64.54 per share.
• Total value of shares withheld: approximately $13,295.
• Transaction code: F — payment of exercise price or tax liability (shares withheld to cover taxes).
• Shares owned after the transaction: not specified in the provided filing.
• Filing timeliness: Report filed 2026-01-23 (the day after the transaction); no late filing indicated.
• Footnote: the report indicates withholding for tax purposes rather than a voluntary sale.

Context
This reporting reflects a tax-withholding disposition typically tied to a prior option exercise or vesting event. It is a routine administrative transaction and does not necessarily signal a change in the insider’s view of the company. The filing does not indicate an open-market sale; shares were retained by the company or broker to satisfy tax obligations.