Form 4: Spire Inc. Director Carrie J. Hightman Reports Phantom Stock Award

Director Carrie J. Hightman reports the acquisition of phantom stock related to deferred compensation.

Summary

• On February 10, 2025, Carrie J. Hightman, a director of Spire Inc., filed a Form 4 with the SEC.
• The report details the acquisition of 1,750 shares of phantom stock on February 7, 2025, at a price of $71.38 per share.
• This phantom stock was awarded as a result of Ms. Hightman's election to defer time-vested restricted stock into her deferred income plan account.
• The phantom stock vests on August 7, 2025, and is payable in a lump sum six months following her separation from the Board of Directors.
• Ms. Hightman also holds 1,810 shares of common stock directly and 29 shares indirectly through an IRA.
• The filing was signed by Courtney Vomund as attorney in fact for Carrie J. Hightman.
• A power of attorney document is included, granting certain individuals the authority to file SEC forms on Ms. Hightman's behalf.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock indicates Ms. Hightman's continued alignment with the company's long-term performance.
• The deferral into a deferred income plan suggests a commitment to the company's future.

Future Outlook

The phantom stock vests on August 7, 2025, and is payable in a lump sum six months following Ms. Hightman's separation from the Board of Directors.

Industry Context

Executive compensation practices, including the use of phantom stock and deferred compensation plans, are common in publicly traded companies to align the interests of executives and shareholders.

Comparison to Industry Standards

• Phantom stock plans are a fairly common form of executive compensation, used by companies like Berkshire Hathaway and Alphabet (Google) to provide equity-like incentives without diluting existing shareholders.
• The vesting schedule of the phantom stock (vesting on August 7, 2025) is typical for such awards, often tied to continued service with the company.
• Deferred compensation plans are also widely used, allowing executives to defer income and potentially reduce their current tax burden, similar to plans offered by companies like General Electric and Johnson & Johnson.

Stakeholder Impact

• The phantom stock award aligns the director's interests with those of the shareholders.
• The deferred compensation plan may have implications for the director's personal financial planning.

Key Dates

Keywords

Form 4, Spire Inc., Director, Hightman, Phantom Stock, Deferred Compensation, Beneficial Ownership, SEC