Form 4: Spire Director Paul Koonce Receives Restricted Stock Award

Spire Inc. Director Paul D. Koonce was granted 1,640 shares of time-vested restricted common stock on February 5, 2026, valued at $85.27 per share.

Summary

• Paul D. Koonce, a Director of Spire Inc. (SR), acquired 1,640 shares of common stock on February 5, 2026.
• This acquisition represents an award of time-vested restricted stock.
• The restricted stock is scheduled to vest on August 5, 2026.
• The price of Spire Inc. common stock at the close of business on February 5, 2026, was $85.27 per share.
• Following this transaction, Mr. Koonce directly beneficially owns 5,540 shares of common stock.
• Additionally, Mr. Koonce indirectly beneficially owns 8,846 shares of 5.9% Series A Cumulative Redeemable Perpetual Preferred Stock and 2,425 shares of common stock through a revocable trust, and 5,000 shares of common stock held in an IRA.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting standard director compensation practices and an alignment of interests between the director and shareholders, without indicating any significant operational or financial changes.

Positives

• Director Paul D. Koonce received an award of 1,640 shares of time-vested restricted stock, aligning his interests with shareholders.
• The award increases Mr. Koonce's direct beneficial ownership of Spire Inc. common stock to 5,540 shares.

Future Outlook

The restricted stock award is time-vested and will vest on August 5, 2026, indicating a future milestone for the reporting person's equity holdings.

Industry Context

StockSavvy.ai notes that restricted stock awards are a common form of executive and director compensation in publicly traded companies, particularly within the utilities sector, to align long-term interests with shareholders and promote retention. This transaction is consistent with standard corporate governance practices for director compensation.

Comparison to Industry Standards

• Restricted stock awards are a standard component of director compensation packages across various industries, including utilities. For example, similar practices are observed at peer companies like NextEra Energy (NEE) or Duke Energy (DUK), where directors often receive equity grants as part of their annual compensation to foster long-term commitment and align with shareholder value creation.
• The specific value and number of shares are typically determined by board compensation committees based on company performance, director responsibilities, and market benchmarks for director pay.

Corporate Governance

Related Party Transactions

• The acquisition of restricted stock by a director is a related party transaction, as it involves an equity award from the company to an insider.

Stakeholder Impact

• Shareholders: The award aligns the director's interests with shareholders by increasing his equity stake, potentially encouraging decisions that enhance long-term shareholder value.

Next Steps

• The awarded restricted stock will vest on August 5, 2026.

Key Dates

Recommendation

This Form 4 filing details a routine equity award to a director, which is a standard compensation practice and does not provide new information that would significantly alter the fundamental investment thesis for Spire Inc. It reinforces director alignment with shareholder interests but does not suggest a catalyst for a "buy" or "sell" recommendation. Therefore, a "hold" recommendation is appropriate, maintaining current positions while awaiting more substantive operational or financial news.

Keywords

Spire Inc., SR, Paul D. Koonce, Form 4, Insider Transaction, Restricted Stock, Director Compensation, Equity Award, Beneficial Ownership