Gray Brian R. 4

What Happened
Brian R. Gray, President & CEO and a director of Knife River Corp (KNF), was granted 20,955 restricted stock units (RSUs) on March 6, 2026. The RSUs were issued at $0.00 per unit (a non-cash award); each RSU represents the contingent right to receive one share of common stock if vesting conditions are met. The filing lists the award amount but does not state a cash purchase or sale.

Key Details

• Transaction date: 2026-03-06; filing date: 2026-03-09 (check SEC 2-business-day rule if timing is a concern; filing does not indicate lateness).
• Award: 20,955 RSUs; price reported = $0.00 (award/grant, not a market purchase).
• Vesting: Per footnote, these RSUs vest on December 31, 2028 only if Mr. Gray remains employed on that date; each RSU converts to one share upon vesting.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Other note (footnote F2): share counts related to certain plan funds may fluctuate daily based on plan activity.

Context
This was a grant of restricted stock units (an award), not an open‑market purchase or sale. RSUs are a form of compensation that convert into actual shares only if vesting conditions are met; they do not represent immediately tradable stock. Awards like this are common as long‑term incentive pay and should be interpreted as compensation-related rather than a direct buy or sell signal.