Form 4: NiSource SVP Michael Hooper Reports Changes in Beneficial Ownership

Michael Hooper, SVP and President of NIPSCO at NiSource Inc., reports changes in beneficial ownership of common stock due to vesting of stock units and shares withheld for tax obligations.

Summary

• On February 28, 2024, Michael Hooper, SVP and President of NIPSCO at NiSource Inc., reported changes in his beneficial ownership of NiSource common stock.
• These changes are due to the vesting of non-derivative performance stock units and special performance stock units granted in 2021.
• Shares were also withheld to satisfy tax withholding obligations related to the vesting of these stock units and a 2021 Restricted Stock Unit award.
• Hooper acquired 18,693 shares at $25.85 due to the vesting of performance stock units.
• He also acquired 3,362 shares at $25.85 due to the vesting of special performance stock units.
• A total of 8,235 shares were withheld to cover tax obligations: 5,446 shares for performance stock units, 938 shares for special performance stock units, and 1,851 shares for the 2021 Restricted Stock Unit award, all at $25.85.
• Hooper also reported owning 1.4026 shares indirectly through the NiSource Inc. Retirement Savings Plan.
• Following these transactions, Hooper directly owns 50,454 shares and indirectly owns 1.4026 shares through the 401(k).

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting required information about stock transactions. It doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted stock units and the associated tax implications for a key executive.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The vesting of stock units and withholding of shares for taxes are common forms of executive compensation.
• Comparable companies in the utilities sector, such as Duke Energy (DUK) and Southern Company (SO), also regularly report similar transactions by their executives.

Stakeholder Impact

• The transactions reported may have a minor impact on shareholders due to the change in the number of outstanding shares.
• The vesting of stock units is part of the executive compensation package, which can impact employee morale and retention.

Key Dates