BAUER DAVID P

PrivateCIK: 1495829

Location

WILLIAMSVILLE, NY

BAUER DAVID P (Treasurer & Prin. Fin. Officer) exercised options at NATIONAL FUEL GAS CO

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 2 exercises

BAUER DAVID P

Filed: 12/9/2025ACC: 0001495829-25-000009

InsiderBAUER DAVID PCIK 1495829

→

IssuerNATIONAL FUEL GAS COCIK 70145

Officer· Treasurer & Prin. Fin. Officer

Since Dec 2018

-629.00

Net shares

Net seller

$51.8K

Total sold

0

Open market trades

0B · 0S

10

Total transactions

34.80K acquired · 35.42K disposed

Non-Derivative Transactions6

Common Stock

Direct

M · Option Exercise

Shares

+8.03K

Price / share

—

Trade value

—

% of position

11.1%

12/5/2025

72.05K→80.07K

Common Stock

Direct

F · Tax Withholding

Shares

−285.00

Price / share

$82.28

Trade value

$23.45K

% of position

0.4%

12/5/2025

80.07K→79.79K

Common Stock

Direct

D · Disposition

Shares

−7.74K

Price / share

—

Trade value

—

% of position

9.7%

12/5/2025

79.79K→72.05K

Common Stock

Direct

M · Option Exercise

Shares

+9.69K

Price / share

—

Trade value

—

% of position

13.4%

12/6/2025

72.05K→81.73K

Common Stock

Direct

F · Tax Withholding

Shares

−344.00

Price / share

$82.28

Trade value

$28.30K

% of position

0.4%

12/6/2025

81.73K→81.39K

Common Stock

Direct

D · Disposition

Shares

−9.34K

Price / share

—

Trade value

—

% of position

11.5%

12/6/2025

81.39K→72.05K

Total

Net shares

+0.00

Net value

-$51.75K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	12/5/2025	M · Option Exercise	+8.03K	—	—	11.1%	72.05K	80.07K
Common Stock Direct	12/5/2025	F · Tax Withholding	−285.00	$82.28	$23.45K	0.4%	80.07K	79.79K
Common Stock Direct	12/5/2025	D · Disposition	−7.74K	—	—	9.7%	79.79K	72.05K
Common Stock Direct	12/6/2025	M · Option Exercise	+9.69K	—	—	13.4%	72.05K	81.73K
Common Stock Direct	12/6/2025	F · Tax Withholding	−344.00	$82.28	$28.30K	0.4%	81.73K	81.39K
Common Stock Direct	12/6/2025	D · Disposition	−9.34K	—	—	11.5%	81.39K	72.05K
Total			+0.00		-$51.75K

Derivative Transactions4

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock

8.03K shares

Shares

−8.03K

Strike price

Held after

16.05K

Exercisable

—

12/5/2025

Deferred Stock Units

Direct

A · Award

Converts to

Common Stock

7.74K shares

Shares

+7.74K

Strike price

Held after

268.63K

Exercisable

—

12/5/2025

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Common Stock

9.69K shares

Shares

−9.69K

Strike price

Held after

9.69K

Exercisable

—

12/6/2025

Deferred Stock Units

Direct

A · Award

Converts to

Common Stock

9.34K shares

Shares

+9.34K

Strike price

Held after

277.98K

Exercisable

—

12/6/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Restricted Stock Units Direct	Common Stock8.03K shares	12/5/2025	M · Option Exercise	−8.03K		—	16.05K
Deferred Stock Units Direct	Common Stock7.74K shares	12/5/2025	A · Award	+7.74K		—	268.63K
Restricted Stock Units Direct	Common Stock9.69K shares	12/6/2025	M · Option Exercise	−9.69K		—	9.69K
Deferred Stock Units Direct	Common Stock9.34K shares	12/6/2025	A · Award	+9.34K		—	277.98K

Non-Derivative Holdings (Post-Transaction)3

Common Stock

Indirect

Shares owned15.27K

Common Stock

Indirect

Shares owned1.13K

Common Stock

Indirect

Shares owned1.13K

Total

17.52K indirect17.52K

Security Title	Shares Owned	Ownership Type
Common Stock	15.27K	Indirect
Common Stock	1.13K	Indirect
Common Stock	1.13K	Indirect
Total	17.52K	17.52K indirect

Derivative Holdings (Post-Transaction)0

No derivative holdings reported

BAUER DAVID P — Insider Transaction (Form 4) Filed Dec 9, 2025 | Finecho