National Fuel Gas Management

Management criteria checks 3/4

National Fuel Gas' CEO is Dave Bauer, appointed in Jul 2019, has a tenure of 4.75 years. total yearly compensation is $7.77M, comprised of 13.2% salary and 86.8% bonuses, including company stock and options. directly owns 0.095% of the company’s shares, worth €4.44M. The average tenure of the management team and the board of directors is 3.1 years and 7.8 years respectively.

Key information

Dave Bauer

Chief executive officer

US$7.8m

Total compensation

CEO salary percentage	13.2%
CEO tenure	4.8yrs
CEO ownership	0.1%
Management average tenure	3.1yrs
Board average tenure	7.8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Dave Bauer's remuneration changed compared to National Fuel Gas's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	US$440m
Sep 30 2023	US$8m	US$1m	US$477m
Jun 30 2023	n/a	n/a	US$561m
Mar 31 2023	n/a	n/a	US$577m
Dec 31 2022	n/a	n/a	US$603m
Sep 30 2022	US$6m	US$973k	US$566m
Jun 30 2022	n/a	n/a	US$495m
Mar 31 2022	n/a	n/a	US$473m
Dec 31 2021	n/a	n/a	US$418m
Sep 30 2021	US$7m	US$938k	US$364m
Jun 30 2021	n/a	n/a	US$131m
Mar 31 2021	n/a	n/a	US$86m
Dec 31 2020	n/a	n/a	-US$133m
Sep 30 2020	US$5m	US$875k	-US$124m
Jun 30 2020	n/a	n/a	US$69m
Mar 31 2020	n/a	n/a	US$92m
Dec 31 2019	n/a	n/a	US$288m
Sep 30 2019	US$4m	US$668k	US$304m
Jun 30 2019	n/a	n/a	US$295m
Mar 31 2019	n/a	n/a	US$294m
Dec 31 2018	n/a	n/a	US$296m
Sep 30 2018	US$2m	US$588k	US$392m
Jun 30 2018	n/a	n/a	US$399m
Mar 31 2018	n/a	n/a	US$396m
Dec 31 2017	n/a	n/a	US$393m
Sep 30 2017	US$2m	US$538k	US$283m

Compensation vs Market: Dave's total compensation ($USD7.77M) is above average for companies of similar size in the German market ($USD3.35M).

Compensation vs Earnings: Dave's compensation has been consistent with company performance over the past year.

CEO

Dave Bauer (54 yo)

4.8yrs

Tenure

US$7,770,302

Compensation

Mr. David P. Bauer, also known as Dave, has been President and Chief Executive Officer at National Fuel Gas Company since July 01, 2019. Mr. Bauer served as Treasurer and Principal Financial Officer of Nat...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
David Bauer	President	4.8yrs	US$7.77m	0.095% $ 4.4m
Timothy Silverstein	CFO & Treasurer	less than a year	US$782.33k	0.0084% $ 391.0k
Ronald Kraemer	Chief Operating Officer	3.1yrs	US$5.96m	0.075% $ 3.5m
Donna DeCarolis	President of National Fuel Gas Distribution Corporation	5.2yrs	US$3.59m	0.13% $ 5.8m
Justin Loweth	President of National Fuel Gas Midstream Company	2.9yrs	US$3.65m	0.076% $ 3.5m
Elena Mendel	Controller & Chief Accounting Officer	4.8yrs	no data	0.018% $ 828.5k
Martin Krebs	Chief Information Officer	5.3yrs	no data	0.0060% $ 281.6k
Natalie Fischer	Director of Investor Relations	less than a year	no data	no data
Michael Reville	General Counsel & Secretary	less than a year	no data	0.032% $ 1.5m

3.1yrs

Average Tenure

55yo

Average Age

Experienced Management: NFG's management team is considered experienced (3.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
David Bauer	President	4.1yrs	US$7.77m	0.095% $ 4.4m
Joseph Jaggers	Independent Director	8.8yrs	US$300.16k	0.032% $ 1.5m
David Smith	Independent Chairman of the Board	17.2yrs	US$385.14k	0.35% $ 16.4m
Thomas Skains	Independent Director	7.3yrs	US$285.16k	0.014% $ 655.3k
Jeffrey Shaw	Lead Independent Director	10.1yrs	US$325.14k	0.034% $ 1.6m
Ronald Tanski	Director	10.1yrs	US$285.14k	0.39% $ 17.9m
David Carroll	Independent Director	11.8yrs	US$285.14k	0.031% $ 1.5m
Barbara Baumann	Independent Director	4.1yrs	US$285.16k	0.018% $ 856.9k
David Anderson	Independent Director	4.8yrs	US$285.14k	0.0058% $ 271.8k
Steven Finch	Independent Director	5.8yrs	US$285.16k	0.0088% $ 409.6k
Rebecca Ranich	Independent Director	7.8yrs	US$300.16k	0.018% $ 853.2k

7.8yrs

Average Tenure

66yo

Average Age

Experienced Board: NFG's board of directors are considered experienced (7.8 years average tenure).

National Fuel Gas Management

Management criteria checks 3/4

Key information

Recent management updates

National Fuel Gas Company, Annual General Meeting, Mar 08, 2024

Insufficient new directors

National Fuel Gas Company, Annual General Meeting, Mar 09, 2023

Chief Operating Officer recently sold €91k worth of stock

Insider recently sold €547k worth of stock

President recently bought €131k worth of stock

Recent updates

Upcoming dividend of US$0.49 per share

First quarter dividend of US$0.49 announced

National Fuel Gas Company (NYSE:NFG) announces an Equity Buyback for $200 million worth of its shares.

National Fuel Gas Company (NYSE:NFG) announces an Equity Buyback for $200 million worth of its shares.

National Fuel Gas Company Declares Quarterly Dividend, Payable on April 15, 2024

First quarter 2024 earnings released: EPS: US$1.45 (vs US$1.85 in 1Q 2023)

National Fuel Gas Company Revises Production Guidance for the Fiscal Year 2024

National Fuel Gas Company, Annual General Meeting, Mar 08, 2024

Upcoming dividend of US$0.49 per share at 4.0% yield

National Fuel Declares Quarterly Cash Dividend, Payable on Jan. 12, 2024

National Fuel Gas Company Revises Earnings Guidance for the Fiscal Year 2024

Full year 2023 earnings released: EPS: US$5.20 (vs US$6.19 in FY 2022)

New major risk - Revenue and earnings growth

Upcoming dividend of US$0.49 per share at 3.7% yield

National Fuel Gas Company Declares Quarterly Dividend, Payable on October 13, 2023

New minor risk - Dividend sustainability

National Fuel Gas Company Provides Earnings Guidance for the Fiscal 2024

Third quarter 2023 earnings released: EPS: US$1.01 (vs US$1.18 in 3Q 2022)

National Fuel Gas Company(NYSE:NFG) dropped from Russell Small Cap Comp Growth Index

Upcoming dividend of US$0.49 per share at 3.9% yield

National Fuel Gas Company Approves Quarterly Dividend on Common Stock, Payable on July 14, 2023

Second quarter 2023 earnings released: EPS: US$1.54 (vs US$1.83 in 2Q 2022)

National Fuel Gas Company Revises Consolidated Earnings Guidance for the Fiscal Year 2023

Insufficient new directors

Upcoming dividend of US$0.47 per share at 3.5% yield

First quarter 2023 earnings released: EPS: US$1.85 (vs US$1.45 in 1Q 2022)

National Fuel Gas Company Revises Earnings Guidance for the Fiscal Year 2023

National Fuel Gas Company, Annual General Meeting, Mar 09, 2023

Upcoming dividend of US$0.47 per share

National Fuel Gas Company Approves Regular Quarterly Dividend, Payable on January 13, 2023

Full year 2022 earnings released: EPS: US$6.19 (vs US$3.99 in FY 2021)

Full year 2022 earnings released: EPS: US$6.19 (vs US$3.99 in FY 2021)

National Fuel Gas Company Declares Quarterly Dividend, Payable on October 14, 2022

National Fuel Gas Company Revises Earnings Guidance for the Fiscal Year 2022

Third quarter 2022 earnings released: EPS: US$1.18 (vs US$0.95 in 3Q 2021)

Upcoming dividend of US$0.47 per share

National Fuel Gas Company Increases Quarterly Dividend, Payable on July 15, 2022

Chief Operating Officer recently sold €91k worth of stock

Second quarter 2022 earnings released: EPS: US$1.83 (vs US$1.23 in 2Q 2021)

National Fuel Gas Company Revises Earnings Guidance for the Year 2022

Upcoming dividend of US$0.46 per share

First quarter 2022 earnings: Revenues and EPS in line with analyst expectations

National Fuel Gas Company Revises Production Guidance for the Fiscal Year 2022

Upcoming dividend of US$0.46 per share

Insider recently sold €547k worth of stock

Full year 2021 earnings released: EPS US$3.99 (vs US$1.41 loss in FY 2020)

President recently bought €131k worth of stock

Upcoming dividend of US$0.46 per share

Third quarter 2021 earnings released: EPS US$0.95 (vs US$0.47 in 3Q 2020)

Upcoming dividend of US$0.46 per share

Second quarter 2021 earnings released: EPS US$1.23 (vs US$1.23 loss in 2Q 2020)

National Fuel Gas Company Updates Production Guidance for the Fiscal Year 2021

President of Seneca Resources Company, LLC John McGinnis has left the company

Upcoming dividend of US$0.45 per share

National Fuel Gas Company Declares Quarterly Dividend, Payable on April 15, 2021

Chief Operating Officer has left the company

New 90-day high: €37.40

First quarter 2021 earnings released: EPS US$0.85 (vs US$1.00 in 1Q 2020)

Revenue misses expectations

National Fuel Gas Company, Annual General Meeting, Mar 11, 2021

New 90-day high: €36.40

Upcoming Dividend of US$0.45 Per Share

National Fuel Gas Company Announces Executive Changes

Full year 2020 earnings released: US$1.41 loss per share

Revenue misses expectations

National Fuel Gas Company Announces the Retirement of John R. Pustulka as Chief Operating Officer, Effective March 1, 2021

Revenue misses expectations

Full year 2020 earnings released: US$1.41 loss per share

National Fuel Gas Company Revises Consolidated Earnings Guidance for the Fiscal Year 2021