Form 4: NiSource EVP Luhrs Acquires Shares, Manages Taxes

NiSource Inc.'s EVP, Michael Luhrs, reported the acquisition of 6,851 restricted stock units and the disposition of 5,393 shares for tax withholding purposes.

Summary

• Michael Luhrs, EVP, Tech, Customer & CCO of NiSource Inc. (NI), reported transactions in the company's common stock.
• On January 21, 2026, Luhrs acquired 6,851 shares of common stock in the form of Restricted Stock Units (RSUs) at a price of $43.79 per share.
• These RSUs represent a contingent right to receive one share of common stock each and are scheduled to vest 100% on February 28, 2029, contingent on continuous employment.
• On January 22, 2026, Luhrs disposed of 5,393 shares of common stock at a price of $43.52 per share.
• This disposition was to satisfy tax withholding obligations related to the partial vesting of a 2025 Special Restricted Stock Unit award.
• Following these transactions, Luhrs beneficially owns 89,564.128 shares of NiSource Inc. common stock, which includes shares acquired through the Employee Stock Purchase Plan.

Sentiment

Score: 6

Explanation: The acquisition of Restricted Stock Units by a key executive is generally a positive signal of alignment with long-term company performance, although the subsequent disposition for tax withholding is a routine, neutral event.

Positives

• Acquisition of 6,851 Restricted Stock Units (RSUs) by a key executive, indicating continued alignment with shareholder interests.
• The RSUs are part of an incentive plan, aligning executive compensation with company performance and long-term value creation.

Negatives

• Disposition of 5,393 shares to cover tax withholding obligations, which is a common but still a reduction in direct shareholding.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The RSU grant aligns executive incentives with shareholder value creation over the long term. The tax-related sale is a routine event with minimal direct impact.
• Employees: The RSU grant is part of an incentive plan, which can be seen as a positive for executive retention and motivation.

Next Steps

• Continued employment of Michael Luhrs until February 28, 2029, for the full vesting of the acquired RSUs.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation activities, including the grant of restricted stock units and a sale for tax withholding. These transactions do not provide new fundamental information about the company's operational performance or strategic direction that would warrant a change in investment recommendation. Investors should continue to hold based on broader company fundamentals.

Keywords

NiSource, NI, Michael Luhrs, SEC Form 4, Insider Trading, Restricted Stock Units, RSU, Executive Compensation, Stock Acquisition, Tax Withholding, Employee Stock Purchase Plan