Form 4: NiSource Director Michael E. Jesanis Acquires 6,042 Shares of Common Stock

Director Michael E. Jesanis acquired 6,042 shares of NiSource Inc. common stock on May 13, 2024, as part of non-employee director compensation.

Summary

• On May 13, 2024, Michael E. Jesanis, a director of NiSource Inc., acquired 6,042 shares of common stock.
• The acquisition was part of the non-employee director's annual compensation.
• These shares were awarded as restricted stock units (RSUs) at a price of $28.8 per share.
• The RSUs vest in full on the first anniversary of the grant date, subject to certain acceleration conditions.
• Following the transaction, Jesanis beneficially owns 54,175.066 shares of NiSource Inc.
• This amount includes RSUs received pursuant to the dividend equivalent provisions of the RSU awards, and which are subject to the same vesting conditions as the underlying RSUs.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a routine transaction related to director compensation, indicating alignment of interests.

Positives

• The acquisition reflects a continued investment and alignment of interests between the director and the company.
• The vesting schedule incentivizes long-term commitment from the director.

Future Outlook

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

Industry Context

Director stock ownership is common in publicly traded companies to align management's interests with those of shareholders. This transaction is a routine part of director compensation.

Comparison to Industry Standards

• Director compensation packages often include stock options, restricted stock units, and cash compensation.
• The vesting schedule of one year is fairly standard for RSU grants.
• Comparing the total equity compensation to that of directors at peer utilities companies (such as Exelon, Duke Energy, or Southern Company) would provide further context.

Stakeholder Impact

• The transaction signals confidence from a director in the company's future, which can be viewed positively by shareholders.

Key Dates