NFG President Joseph Del Vecchio Receives Performance Shares (Deferred)

What Happened

• Joseph N. Del Vecchio, President of NFG Supply Corp. (a National Fuel Gas Co. executive), had performance shares vest on Sept. 16, 2026. A grant of 444 shares vested (reported as acquired), 16 of those shares were withheld and cancelled to cover taxes (16 × $81.52 = $1,304), and the remaining 428 vested shares were not taken as stock but converted into deferred stock units under the company’s deferred compensation plan.

Key Details

• Primary vesting date: 2026-09-16.
• Grant/vesting reported: 444 shares acquired at $0.00 (aggregate value reported as $0 in filing).
• Tax withholding: 16 shares disposed/withheld at $81.52 each (reported value $1,304); these were cancelled for taxes (Transaction Code F).
• Deferred conversion: 428 shares converted into 428 deferred stock units (Disposition to issuer/derivative reporting; Transaction Code D). Each deferred stock unit equals one share and will be paid in shares after termination per the plan.
• Earlier 2026 derivative acquisitions (other than the Sept. 16 vesting): 123 shares (1/15/26) at $81.29 ($9,999), 113 shares (4/15/26) at $89.49 ($10,112), and 132 shares (7/15/26) at $79.99 ($10,559) — reported as derivative transactions.
• Shares owned after the transactions are not specified in this filing.
• Filing date: 2026-09-17 for transactions on 2026-09-16 — timely filing.

Context

• This was a vesting of performance-based share awards, not an open-market sale or purchase. The 16-share withholding for taxes was an internal cancellation, not a market sale. The 428 shares were converted into deferred stock units (each economically equivalent to one share) that will be paid out in shares after Del Vecchio’s termination of service per the Deferred Compensation Plan. These types of awards are routine executive compensation and do not necessarily indicate immediate buying or selling sentiment.