Sec Form 4 Filing - KRAEMER RONALD C @ NATIONAL FUEL GAS CO - 2023-12-06

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person KRAEMER RONALD C 2. Issuer Name and Ticker or Trading Symbol NATIONAL FUEL GAS CO [ NFG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Operating Officer (Last) (First) (Middle) 6363 MAIN STREET 3. Date of Earliest Transaction (MM/DD/YY) 12/06/2023 (Street) WILLIAMSVILLE, NY14221 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/13/2023 J V 7 ( 1 ) A $ 61.613 46,015 D Common Stock 04/14/2023 J V 8 ( 1 ) A $ 56.029 46,023 D Common Stock 07/14/2023 J V 9 ( 1 ) A $ 50.872 46,032 D Common Stock 10/13/2023 J V 8 ( 1 ) A $ 54.132 46,040 D Common Stock 12/06/2023 A 16,788 A $ 0 62,828 D Common Stock 12/06/2023 F 596 ( 2 ) D $ 50.325 62,232 D Common Stock 12/06/2023 A 8,814 A $ 0 71,046 D Common Stock 12/06/2023 F 313 ( 3 ) D $ 50.325 70,733 D Common Stock 12/06/2023 D 24,693 D 46,040 D Common Stock 18,425 ( 5 ) I 401K Trust Common Stock 4,286 ( 6 ) I ESOP Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Deferred Stock Units ( 7 ) ( 8 ) 01/13/2023 J V 146 ( 9 ) ( 9 ) Common Stock 146 $ 61.8 19,181 D Deferred Stock Units ( 7 ) ( 8 ) 04/14/2023 J V 162 ( 9 ) ( 9 ) Common Stock 162 $ 56.11 19,343 D Deferred Stock Units ( 7 ) ( 8 ) 07/14/2023 J V 189 ( 9 ) ( 9 ) Common Stock 189 $ 50.61 19,532 D Deferred Stock Units ( 7 ) ( 8 ) 10/13/2023 J V 180 ( 9 ) ( 9 ) Common Stock 180 $ 53.91 19,712 D Deferred Stock Units ( 8 ) 12/06/2023 A 24,693 ( 9 ) ( 9 ) Common Stock 24,693 ( 4 ) 44,405 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other KRAEMER RONALD C 6363 MAIN STREET WILLIAMSVILLE, NY14221 Chief Operating Officer Signatures J.P. Baetzhold, Attorney in Fact 12/08/2023 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Acquired through dividend reinvestment plan, exempt under Rule 16a-11. ( 2 )On December 6, 2023, the reporting person had 596 shares withheld and cancelled in respect of taxes in connection with the vesting of performance shares. These share cancellations are shown on Table I as dispositions (Transaction Code "D" in Column 4), although none of these cancelled shares were sold into the market, as indicated by Transaction Code "F" in Column 3. ( 3 )On December 6, 2023, the reporting person had 313 shares withheld and cancelled in respect of taxes in connection with the vesting of performance shares. These share cancellations are shown on Table I as dispositions (Transaction Code "D" in Column 4), although none of these cancelled shares were sold into the market, as indicated by Transaction Code "F" in Column 3. ( 4 )In connection with the vesting on December 6, 2023 of performance shares previously granted to the reporting person, the reporting person's receipt of 24,693 shares of common stock was deferred, resulting in the reporting person's receipt instead of 24,693 deferred stock units pursuant to National Fuel Gas Company's deferred compensation plan. The reporting person is therefore reporting the disposition of 24,693 shares of common stock in exchange for an equal number of deferred stock units. ( 5 )The NFG stock fund under the NFG 401(k) plan is denominated in units, representing ownership interests in a fund that includes both NFG common stock and a reserve of cash. The information reported represents the dollar value of the reporting person's balance in the NFG stock fund as of December 6, 2023, as reported by the plan administrator, divided by the closing price of NFG common stock on that date. ( 6 )The NFG employee stock ownership plan is denominated in units, representing ownership interests in a fund that includes both NFG common stock and a reserve of cash. The information reported represents the dollar value of the reporting person's balance in the ESOP as of December 6, 2023, as reported by the plan administrator, divided by the closing price of NFG common stock on that date. ( 7 )Acquired through dividend reinvestment feature of the National Fuel Gas Company Deferred Compensation Plan for Directors and Officers, exempt under Rule 16a-11. ( 8 )Each deferred stock unit is the economic equivalent of one share of common stock. ( 9 )The deferred stock units become payable, in shares of common stock, after the reporting person's termination of service, pursuant to the reporting person's distribution election under National Fuel Gas Company's Deferred Compensation Plan for Directors and Officers.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.