Form 4: NiSource Director Lee Receives Stock Award

Director Cassandra S. Lee receives 6,042 shares of NiSource stock as part of annual compensation.

Summary

• Cassandra S. Lee, a director of NiSource Inc., received 6,042 shares of common stock on May 13, 2024, as part of her annual compensation.
• The shares were awarded as restricted stock units (RSUs) that will vest on the first anniversary of the grant date, subject to certain conditions.
• The price of the stock at the time of the transaction was $28.8 per share.
• Following the transaction, Lee beneficially owns 19,433.861 shares of NiSource common stock, which includes RSUs received as dividend equivalents.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard director compensation practices, aligning director interests with shareholders.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting conditions encourage long-term commitment to the company's success.

Future Outlook

The RSUs will vest on the first anniversary of the grant date, subject to certain acceleration conditions.

Industry Context

Director compensation in the form of stock awards is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Comparing NiSource's director compensation structure to that of its peers, such as Exelon or Duke Energy, would provide a benchmark for assessing the competitiveness and appropriateness of the compensation package.
• Typically, director compensation packages include a mix of cash retainers, meeting fees, and equity awards.
• The specific mix and value of these components can vary based on company size, performance, and industry standards.

Stakeholder Impact

• The stock award aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates