Independent
Tenure on this board
7.1 yrs
Also a director at
Northwest Natural Holding Co (NWN)
Meeting calendar
NFG · Annual meeting · Thursday, March 12, 2026
National Fuel Gas Co
11 nominees · 3 ballot items.
Election of eleven directors; advisory approval of named executive officer compensation (say-on-pay); ratification of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal 2026.
Market cap
$7.7B
1Y TSR
-6.7%
Board grade
C
Record date
Jan 12, 2026
Filing
DEF 14A
Meeting concluded · Mar 12, 2026
Follow how the vote landed and what changed on National Fuel Gas Co’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.
Proposals
On the ballot3
- 1
Election of Directors
ManagementBoard: FORElect eleven directors to hold office for one-year terms until their successors are elected and qualified.
- 2
Advisory Approval of Named Executive Officer Compensation
ManagementBoard: FORNon-binding, advisory 'say-on-pay' vote to approve the compensation of the Company’s named executive officers as disclosed in the proxy statement.
More detail
This management proposal requests an advisory, non-binding approval of the Company’s named executive officer compensation as detailed in the CD&A and compensation tables. Management is seeking shareholder endorsement of its pay practices to validate alignment with stockholder interests and pay-for-performance philosophy; a strong prior say-on-pay result (87.6% in 2025) informed continuation of current programs. The proposal is routine for public companies and carries no direct legal effect but is an important governance signal. The Compensation Committee sets pay using market peer data, a mix of cash and long-term equity tied to TSR, ROC and emissions reduction targets, and employs independent consultants; it has retained mechanisms like clawbacks, double-trigger change-in-control protections, and ownership guidelines to align incentives. The Board recommends FOR because it believes compensation is appropriately balanced to motivate executives, align with long-term shareholder value, and reflect stockholder feedback. Potential investor considerations include the degree of reliance on relative metrics and emissions targets, executive stock ownership levels, and one-time adjustments to short-term incentive design; however, management’s engagement with investors and prior support suggest limited controversy.
- 3
Ratification of Appointment of Independent Registered Public Accounting Firm
ManagementBoard: FORRatify appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for fiscal 2026.
Director elections
Nominees on the ballot11
Not independent
Tenure on this board
11.1 yrs
Independent
Tenure on this board
6.3 yrs
Independent
Tenure on this board
14.1 yrs
Independent
Tenure on this board
8.0 yrs
Also a director at
Allient Inc (ALNT)Financial Institutions Inc (FISI)
Independent
Tenure on this board
11.1 yrs
Independent
Tenure on this board
10.1 yrs
Independent
Tenure on this board
12.3 yrs
Independent
Tenure on this board
9.6 yrs
Also a director at
Truist Financial Corp (TFC)Duke Energy Corp (DUK)
Independent
Tenure on this board
20.5 yrs
Independent
Tenure on this board
12.3 yrs
Also a director at
Cms Energy Corp (CMS)
Ownership
Latest 13F quarterTop institutional holders10
| # | Owner | % of shares | Shares | Value |
|---|---|---|---|---|
| 1 | VANGUARD PORTFOLIO MANAGEMENT LLC | 8.2% | 7,823,429 | $735M |
| 2 | BlackRock, Inc. | 5.8% | 5,510,246 | $518M |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 4.5% | 4,246,963 | $399M |
| 4 | STATE STREET CORP | 4.1% | 3,870,572 | $366M |
| 5 | PRICE T ROWE ASSOCIATES INC /MD/ | 2.9% | 2,774,195 | $261M |
| 6 | BlackRock, Inc. | 2.9% | 2,721,916 | $256M |
| 7 | GABELLI FUNDS LLC | 2.5% | 2,331,863 | $219M |
| 8 | LSV ASSET MANAGEMENT | 2.3% | 2,230,928 | $210M |
| 9 | Energy Income Partners, LLC | 2.2% | 2,069,380 | $194M |
| 10 | GEODE CAPITAL MANAGEMENT, LLC | 1.7% | 1,580,703 | $149M |
Peers
Nearest market capOther Energy sector meetings6
Upcoming shareholder meetings at National Fuel Gas Co’s closest sector peers — compare boards, ballots, and ownership across the cohort.
Weatherford International PLCWFRD
Special meeting·Sep 3, 2026·$5.8B
Granite Ridge Resources IncGRNT
Special meeting·Aug 4, 2026·$616M
Sm Energy CoSM
Annual meeting·May 21, 2026·$7.5B
Pbf Energy IncPBF
Annual meeting·Apr 28, 2026·$7.4B
Kinetik Holdings IncKNTK
Annual meeting·May 19, 2026·$8.2B
Chord Energy CorpCHRD
Annual meeting·Apr 29, 2026·$7.2B
Reference
Frequently asked questions
- When is the National Fuel Gas Co 2026 annual meeting?
- National Fuel Gas Co (NFG) holds its 2026 annual shareholder meeting on Thursday, March 12, 2026.
- What is the record date for the National Fuel Gas Co 2026 meeting?
- The record date for the National Fuel Gas Co 2026 meeting is Monday, January 12, 2026. Shareholders of record on or before that date are eligible to vote.
- Who are the director nominees for National Fuel Gas Co's 2026 meeting?
- The board is presenting 11 director nominees at the National Fuel Gas Co 2026 meeting, listed with their independence status and background.
- What proposals will shareholders vote on at the National Fuel Gas Co 2026 meeting?
- Shareholders will vote on 3 proposals at the National Fuel Gas Co 2026 meeting, each tagged with who proposed it and the board's recommendation.
Disclaimer
The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.
This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.
None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.
No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.