Form 4: Spire COO Greenley Awarded Restricted Stock

Spire Inc.'s Executive VP and COO, Steven C. Greenley, was awarded 7,970 shares of time-vested restricted common stock at a price of $87.82 per share.

Summary

• Steven C. Greenley, Executive VP and COO of Spire Inc. (SR), was awarded 7,970 shares of common stock.
• The transaction occurred on November 3, 2025, at a price of $87.82 per share.
• This award represents time-vested restricted stock, which will vest on November 3, 2028.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-planned purchase or sale of equity securities.

Sentiment

Score: 5

Explanation: This is a neutral, routine filing regarding executive compensation. It neither indicates significant positive nor negative operational or financial news.

Positives

• The award of restricted stock aligns the executive's interests with long-term shareholder value through future vesting.
• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-planned and transparent compensation event.

Negatives

• No specific negatives are identified in this routine compensation filing.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

The awarded restricted stock is set to vest on November 3, 2028, providing a future incentive for the executive.

Industry Context

This is a standard executive compensation practice within the utility sector, where long-term equity awards like restricted stock are common to incentivize management and align their interests with shareholder returns over multi-year periods.

Comparison to Industry Standards

• The award of restricted stock to a senior executive like a COO is a common practice across publicly traded companies, particularly in stable industries such as utilities.
• While specific award sizes and vesting schedules vary, the use of time-vested restricted stock is a widely accepted method for long-term incentive compensation, comparable to practices at peers like NextEra Energy (NEE) or Duke Energy (DUK) which also utilize equity awards to retain and motivate key personnel.

Related Party Transactions

• Steven C. Greenley, Executive VP and COO, received an award of 7,970 shares of time-vested restricted common stock from Spire Inc. as part of his compensation package.

Stakeholder Impact

• Shareholders: The award aligns executive incentives with long-term shareholder value. It represents a potential future dilution of existing shares upon vesting, which is a standard cost of executive compensation.
• Management: Steven C. Greenley receives a significant equity award, incentivizing his continued performance and retention.

Next Steps

• The awarded restricted stock will vest on November 3, 2028.

Key Dates

Keywords

Spire Inc., SR, Steven C. Greenley, Form 4, Restricted Stock, Executive Compensation, Insider Transaction, Equity Award, Rule 10b5-1