Form 4: NiSource Inc. Executive Kimberly S. Cuccia Reports Changes in Beneficial Ownership

Kimberly S. Cuccia, SVP, GC & Corp Sec of NiSource Inc., reports acquisition and disposal of common stock due to vesting of stock units and tax withholding.

Summary

• On February 28, 2024, Kimberly S. Cuccia, SVP, GC & Corp Sec of NiSource Inc., reported changes in beneficial ownership of the company's common stock.
• These changes include the acquisition of 7,237 shares and 1,519 shares due to the vesting of non-derivative performance stock units and special performance stock units granted in 2021, respectively, at a price of $25.85 per share.
• Additionally, 2,197 shares, 462 shares and 789 shares were disposed of to satisfy tax withholding obligations related to the vesting of these stock units and a 2021 Restricted Stock Unit award.
• Cuccia also reported owning 3,669.2104 shares indirectly through the NiSource Inc. Retirement Savings Plan.
• Following these transactions, Cuccia directly owns 33,962 shares of NiSource Inc. common stock and indirectly owns 3,669.2104 shares through the 401k.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation. The vesting of stock units is generally a positive sign, but the subsequent sale for tax purposes is a neutral event.

Positives

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

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice across all publicly traded companies in the United States, ensuring compliance with SEC regulations.
• Similar filings are made by executives at comparable utility companies like Duke Energy (DUK) and Southern Company (SO), reflecting similar compensation structures and reporting requirements.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
• The filing provides transparency to shareholders regarding executive compensation and ownership.

Key Dates