---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-314162"
form_type: "8-K"
ticker: "NFG"
cik: "0000070145"
company_name: "NATIONAL FUEL GAS CO"
filed_at: "2025-12-10T23:59:59+00:00"
generated_at: "2026-05-16T13:42:40.890848+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# National Fuel Gas grants performance shares and RSUs to named executives; amends incentive plan

## Summary
- CEO Bauer receives 35,977 TSR performance shares and 23,307 RSUs; CFO Silverstein 11,447 and 7,416; J. Loweth 18,083 and 11,715.
- Additional cash payments in lieu of two-year averaging: Bauer $291,544, Silverstein $85,243, Loweth $130,366.
- Board amends Annual Incentive Plan, renaming it to National Fuel Gas Company Annual Incentive Plan, raising max award.
- FY2026 short-term incentive targets: CEO target 125% salary, CFO 80%, Loweth 100%; max up to 250%/160%/200% of salary.
- Performance goals include EBITDA, lease operating expense, safety, and qualitative strategic objectives.

## SEC filing metadata
- accession: 0001193125-25-314162
- form_type: 8-K
- ticker: NFG
- cik: 0000070145
- company_name: NATIONAL FUEL GAS CO
- filed_at: 2025-12-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/70145/000119312525314162/0001193125-25-314162-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/70145/000119312525314162/d13346d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-314162
- JSON: https://secwatch.observer/filing/0001193125-25-314162.json
- Plain text: https://secwatch.observer/filing/0001193125-25-314162.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.