Form 4: Spire Inc. Executive Transfers Phantom Stock in Deferred Income Plan

Michael C. Geiselhart, Senior Vice President of Spire Inc., reports transferring phantom stock within his deferred income plan.

Summary

• Michael C. Geiselhart, a Senior Vice President at Spire Inc., filed a Form 4 on August 27, 2024, reporting transactions involving phantom stock.
• The transactions involved the transfer of phantom stock previously deferred to the Reporting Person's deferred income plan account of performance contingent stock awarded to him into a fixed rate account.
• On August 23, 2024, 2,358.62 shares of phantom stock were transferred at a price of $65.6, resulting in a holding of 9,858.72 shares.
• On August 26, 2024, 2,394.36 shares of phantom stock were transferred at a price of $65.53, resulting in a holding of 7,464.36 shares.
• Each share of phantom stock is the economic equivalent of one share of Spire Inc. common stock and can be transferred to other investments within the reporting person's deferred income plan account at any time at least six months after vesting.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing regarding executive stock transactions, indicating a neutral sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and deferred income plans, common in publicly traded companies.

Comparison to Industry Standards

• Executive compensation practices, including the use of phantom stock and deferred income plans, are common across the energy and utility industry.
• Companies like Southern Company, Duke Energy, and Exelon also utilize similar compensation structures to incentivize and retain key executives.
• The specifics of these plans, such as vesting schedules and transfer options, can vary but generally aim to align executive interests with shareholder value.

Stakeholder Impact

• The transaction has minimal direct impact on stakeholders as it involves internal transfers within an executive's deferred compensation plan.
• It provides transparency to shareholders regarding executive compensation.

Key Dates