MDU Resources enters forward sale for 10.15M shares at $19.04, borrows and sells to underwriters

MDU RESOURCES GROUP INC

Forward sale agreements executed Dec 3 with Wells Fargo, BofA, JPMorgan for aggregate 10,152,284 shares of common stock.
Forward shares borrowed from third parties and sold to underwriters on Dec 5; underwriters have 30-day option for up to 1,522,842 additional shares.
Initial forward price $19.04 per share; adjusts daily by overnight bank funding rate minus 0.75% spread; maturity Dec 6, 2027.
MDU may elect physical, cash, or net share settlement; physical settlement will result in dilution to EPS.
Dilution expected only when average market price exceeds adjusted forward price; treasury stock method applied until settlement.

item 1.01 item 8.01 item 9.01

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