Form 4: Spire Inc. Executive Vice President Steven P. Rasche Reports Changes in Beneficial Ownership

Executive Vice President Steven P. Rasche of Spire Inc. reports changes in beneficial ownership of company stock, including transactions involving phantom stock and holdings in IRA, 401(k), and revocable trust accounts.

Summary

• On September 13, 2024, Steven P. Rasche, Executive Vice President of Spire Inc., filed a Form 4 detailing changes in his beneficial ownership of Spire Inc. securities.
• The reported holdings include 16,499.84 shares of 5.9% Series A Cumulative Redeemable Perpetual Preferred Stock held in an IRA, 7,240 shares of common stock held directly, 2,658.53 shares held in a 401(k), and 33,050 shares held in a revocable trust.
• A transaction involved phantom stock, representing a transfer of previously deferred performance-contingent stock into a fixed-rate account, with each share of phantom stock equivalent to one share of Spire Inc. common stock.
• The total phantom stock holdings after the reported transaction amount to 13,079.6 shares, with 7,152.4 shares transferred on September 13, 2024, at a price of $66.28.
• Mr. Rasche has sole voting and dispositive power over the shares held in his IRA account.
• Shares held in the company stock fund of the 401(k) plan are as reported by the trustee as of the close of business on September 13, 2024.
• Shares held in the revocable trust are managed jointly by Mr. Rasche and his spouse, who share voting and dispositive power.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their holdings and transactions in company stock. It reflects standard practices for executive compensation and wealth management.

Comparison to Industry Standards

• Executive compensation packages often include a mix of salary, stock options, restricted stock, and deferred compensation plans like phantom stock.
• The use of IRA, 401(k), and revocable trust accounts for holding company stock is a common wealth management strategy among executives.
• Similar filings are made by executives at comparable companies like Atmos Energy, Laclede Group (now Spire), and Southwest Gas, detailing their stock ownership and transactions.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of a key executive.
• The information may be of interest to employees participating in the company's 401(k) plan.

Key Dates