Form 4: NiSource Director Sondra L. Barbour Acquires Shares as Part of Compensation Plan

Director Sondra L. Barbour acquired 6,042 shares of NiSource Inc. common stock on May 13, 2024, as part of a restricted stock unit award.

Summary

• On May 13, 2024, Sondra L. Barbour, a director of NiSource Inc., acquired 6,042 shares of common stock.
• The acquisition was part of a restricted stock unit (RSU) award granted as part of the non-employee director's annual compensation.
• The RSUs vest in full on the first anniversary of the grant date, subject to certain acceleration conditions.
• Each RSU represents a contingent right to receive one share of NiSource's common stock upon vesting, according to the company's 2020 Omnibus Plan.
• The price of the stock at the time of the transaction was $28.8 per share.
• Following the transaction, Barbour beneficially owns 19,644.564 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 as it reflects a standard director compensation practice, indicating confidence in the company's future.

Positives

• The acquisition reflects the director's continued investment in the company.
• The vesting schedule aligns the director's interests with the long-term performance of the company.

Future Outlook

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

Industry Context

Directors receiving stock-based compensation is a common practice in publicly traded companies to align their interests with shareholders.

Comparison to Industry Standards

• Stock awards are a typical component of director compensation packages in the utility industry, similar to companies like Exelon, American Electric Power, and Duke Energy.
• The vesting schedule of one year is also fairly standard for director RSU grants.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.

Key Dates