MDU RESOURCES GROUP INC — Director's Dealing 2023

Jun 1, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MDU RESOURCES GROUP INC (MDU)
CIK: 0000067716
Period of Report: 2023-05-31

Reporting Person: Kivisto Nicole A (President & CEO-Montana-Dakota)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-31	Common Stock	A	19064.0000	$0.0000	Acquired	149678.9550	Direct
2023-05-31	Common Stock	A	14263.0000	$0.0000	Acquired	163941.9550	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	164.3160	Indirect
Common Stock	531.0000	Indirect
Common Stock - 401(k)	14488.1743	Indirect

Footnotes

F1: Represents restricted stock units (RSUs) that vest on December 31, 2024, provided that the reporting person remains employed by the issuer as of the vesting date. Each RSU represents the contingent right to receive one share of the issuer's common stock. On May 31, 2023, such RSUs were converted from a previously granted performance-based share award in connection with the issuer's distribution to its shareholders of approximately 90% of the outstanding shares of its wholly owned subsidiary, Knife River Corporation (formerly known as Knife River Holding Company), on May 31, 2023 (the "Spin-off").

F2: Represents RSUs that vest on December 31, 2023, provided that the reporting person remains employed by the issuer as of the vesting date. Each RSU represents the contingent right to receive one share of the issuer's common stock. On May 31, 2023, such RSUs were converted from a previously granted performance-based share award in connection with the Spin-Off.

F3: As of the most recent quarter end, the number of shares may fluctuate daily depending on plan activity in the fund.