Form 4: NiSource EVP & CFO Shawn Anderson Reports Stock Transactions

Shawn Anderson, EVP & CFO of NiSource Inc., reports the acquisition and disposal of company stock, including vesting of performance stock units and sales under a Rule 10b5-1 trading plan.

Summary

• On February 28, 2025, Shawn Anderson acquired 22,720 shares of NiSource Inc. common stock at $40.81 per share due to the vesting of performance stock units.
• Also on February 28, 2025, 9,888 shares were withheld to cover tax obligations related to the vesting of performance stock units, and 2,196 shares were withheld for tax obligations related to the vesting of restricted stock units, both at a price of $40.81.
• On March 3, 2025, Anderson sold 12,900 shares at $40.79 per share under a pre-arranged Rule 10b5-1 trading plan.
• Following these transactions, Anderson directly owns 157,879.095 shares and indirectly owns 791.072 shares through the NiSource Inc. Retirement Savings Plan as of February 28, 2025.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transactions are routine and include both acquisitions (vesting) and sales (tax obligations and pre-planned sales). There's no clear indication of positive or negative sentiment from the executive's actions.

Positives

• The vesting of performance stock units indicates that performance targets were likely met, which is a positive signal.

Negatives

• The sale of 12,900 shares, even under a pre-arranged plan, could be interpreted negatively by some investors.

Risks

• Executive stock sales, even under 10b5-1 plans, can sometimes create uncertainty in the market.

Future Outlook

The document does not contain specific forward-looking statements, but the ongoing operation of the Rule 10b5-1 trading plan suggests continued stock transactions.

Industry Context

Insider transactions are common and closely watched in the utility industry. Investors often look to these filings for signals about management's confidence in the company's prospects.

Comparison to Industry Standards

• Comparing Anderson's transactions to those of other utility company CFOs would provide a better understanding of whether these actions are typical.
• Reviewing similar Form 4 filings from peer companies like Duke Energy or Southern Company could offer valuable context.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-planned nature of the sales mitigates potential concerns.

Key Dates