National Fuel Gas Co. DEF 14A Filing
Ticker: NFG · Form: DEF 14A · Filed: Jan 24, 2025 · CIK: 70145
Sentiment: neutral
Topics: proxy-statement, executive-compensation, governance
Related Tickers: NFG
TL;DR
NFG proxy statement out, detailing exec pay and equity awards for FY23/24.
AI Summary
National Fuel Gas Co. filed its DEF 14A on January 24, 2025, for the fiscal year ending September 30, 2024. The filing details executive compensation, including equity awards granted and vested, changes in the fair value of these awards, and pension values. Key financial periods covered include fiscal years 2020-2023.
Why It Matters
This filing provides crucial details on how National Fuel Gas Co. compensates its top executives, offering insight into the company's financial priorities and governance practices.
Risk Assessment
Risk Level: low — This is a routine annual filing (DEF 14A) detailing executive compensation and governance, not indicating immediate financial distress or significant new risks.
Key Numbers
- 20250124 — Filing Date (Date the DEF 14A was filed.)
- 20250313 — Period of Report (The period this filing pertains to.)
- 0930 — Fiscal Year End (National Fuel Gas Co.'s fiscal year end date.)
Key Players & Entities
- NATIONAL FUEL GAS CO (company) — Filer
- 0000070145 (company) — Central Index Key
- 6363 MAIN STREET (address) — Business and Mail Address
- WILLIAMSVILLE, NY 14221-5887 (address) — Business and Mail City, State, Zip
- 716-857-7000 (phone) — Business Phone
FAQ
What is the primary purpose of a DEF 14A filing?
A DEF 14A filing, also known as a Proxy Statement, is used to solicit shareholder votes on important corporate matters, such as the election of directors and executive compensation.
When is National Fuel Gas Co.'s fiscal year end?
National Fuel Gas Co.'s fiscal year ends on September 30th.
What specific compensation details are typically found in a DEF 14A?
DEF 14A filings typically detail executive compensation, including base salary, bonuses, stock awards, option awards, and changes in pension values.
What does the 'FILER' designation refer to in this document?
The 'FILER' designation refers to the company submitting the filing, which in this case is NATIONAL FUEL GAS CO.
What is the significance of the 'CONFORMED PERIOD OF REPORT' date?
The 'CONFORMED PERIOD OF REPORT' date (20250313) indicates the period for which the information in the filing is relevant or reported.
Filing Stats: 4,327 words · 17 min read · ~14 pages · Grade level 17.1 · Accepted 2025-01-24 12:52:58
Key Financial Figures
- $56 million — 24. These new rates are expected to add $56 million in annualized revenue and contributed t
- $57 million — jurisdiction, which is expected to add $57 million to annual base rates in fiscal 2025, ef
- $2.06 — dividend increase, to an annual rate of $2.06 per share, and a new $200 million share
- $200 million — nual rate of $2.06 per share, and a new $200 million share repurchase program. This combinat
- $200M — rrupted dividend payments. Authorized $200M Share Repurchase Program In March, th
- $65 million — se program, and the Company repurchased $65 million of common stock during fiscal 2024. The
- $33.2 m — and Storage segment revenues increased $33.2 million, or 9%, from the prior year, prim
- $8.7 m — Utility segment net income increased $8.7 million, or 18%, compared to the prior ye
- $86 million — risdiction. This settlement includes an $86 million annual revenue requirement increase ove
- $996 million — Support of Local Vendors: Approximately $996 million paid to local vendors and contractors i
- $1,000 — yee donations, dollar for dollar, up to $1,000 per employee through the Employee Chari
- $1.6 billion — act: Community impact dollars exceeding $1.6 billion in 2024, as graphically depicted below
Filing Documents
- d870563ddef14a.htm (DEF 14A) — 2080KB
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- 0001193125-25-012017.txt ( ) — 8282KB
- nfg-20240930.xsd (EX-101.SCH) — 3KB
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Security Ownership of Certain
Security Ownership of Certain Beneficial Owners and Management 38 Equity Compensation Plan Information 40
Executive Compensation
Executive Compensation 41 Compensation Committee Report 41 Compensation Discussion and Analysis 41 Fiscal 2024 Summary Compensation Table 61 Grants of Plan-Based Awards in Fiscal 2024 63 Outstanding Equity Awards at Fiscal 2024 Year-End 65 Option Exercises and Stock Vested in Fiscal 2024 67 Fiscal 2024 Pension Benefits 68 Fiscal 2024 Nonqualified Defined Contribution and Other Nonqualified Deferred Compensation Plans 69 Fiscal 2024 Potential Payments Upon Termination or Change in Control 71 CEO Pay Ratio 76 Pay Versus Performance 77 Executive Officer and Director Hedging 81 PROPOSAL 2. Advisory Approval of Named Executive Officer Compensation 82 PROPOSAL 3. Ratification of Appointment of Independent Registered Public Accounting Firm 83 Important Notice Regarding Delivery of Stockholder Documents 84 Proposals of Security Holders for the 2026 Annual Meeting 85 Other Business 86 Where You Can Find Additional Information 87 Your Vote is Important! Please vote by phone, by QR Code or by Internet, or complete, sign, date and return your proxy card. National Fuel Gas Company | 2025 PROXY STATEMENT i Table of Contents Proxy Summary This proxy statement contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements should be read with the cautionary statements and important factors included under the heading "Safe Harbor for Forward-Looking Statements" in National Fuel Gas Company's ("National Fuel" or the "Company") Form 10-K at Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" and with the information included in the Company's Form 10-K at Item 1A "Risk Factors". Forward-looking statements are all statements other than statements of historical fact, including, without limitation, statements regarding future prospects, plans, objectives, goals, projections,