Forsberg Justin S 4

What Happened

• Justin S. Forsberg, Chief Financial Officer of Southwest Gas Holdings, received two equity awards on Feb 19, 2026: 3,570.154 restricted stock units (RSUs) and 1,513.589 performance/settled stock units (PSUs), for a total of 5,083.743 units. Both awards are reported at $0.00 per unit (typical for equity grants) and were reported on a Form 4 filed Feb 23, 2026.
• These awards are grants (transaction code "A"), not purchases or sales, so there was no cash exchanged and no immediate change in share ownership tradable on the market.

Key Details

• Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (appears timely; Form 4s are normally due within two business days).
• Awarded: 3,570.154 RSUs (F1) and 1,513.589 PSUs (F2); total = 5,083.743 units. Reported price per unit: $0.00.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — each RSU converts to one share upon vesting; RSUs vest in three annual installments (40% / 30% / 30%) assuming continued service. F2 — PSUs were settled and will be delivered three years after the grant date subject to achievement of performance goals.
• No 10b5-1 plan, tax-withholding, or sale details were disclosed in the excerpt.

Context

• These are compensatory equity awards common for executives; RSUs vest over time and PSUs depend on future performance targets, so they do not represent an immediate market purchase or sale by the insider.
• Because delivery of shares is contingent on continued service and/or performance, these grants mainly reflect long-term compensation structure rather than an instant signal about the CFO’s view of the stock.