Form 4: Spire Inc. Executive Vice President Steven P. Rasche Reports Stock Transactions

Executive Vice President Steven P. Rasche of Spire Inc. reported transactions involving common stock and phantom stock, including tax withholdings and vesting of deferred compensation.

Summary

• Steven P. Rasche, an Executive Vice President at Spire Inc., reported several transactions related to the company's stock.
• On November 29, 2024, 944 shares of common stock were withheld for tax purposes related to the vesting of restricted stock.
• Mr. Rasche also acquired phantom stock as part of his deferred income plan, with 2,682 shares vesting for payment in January 2028, 2,012 shares vesting for payment in January 2029, and 2,012 shares vesting for payment in January 2027.
• Additionally, 158 shares of phantom stock were withheld for taxes.
• Mr. Rasche holds 8,626 shares of common stock directly, and indirectly holds 16,499.84 shares of Series A Preferred Stock in an IRA, 2,688.815 shares of common stock in a 401(k), and 33,050 shares of common stock in a revocable trust.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and stock transactions, which are neither particularly positive nor negative. The sentiment is neutral to slightly positive due to the vesting of deferred compensation.

Positives

• The vesting of phantom stock indicates continued compensation and alignment of interests with the company's performance.
• The deferred income plan allows for tax-advantaged growth of compensation.

Negatives

• The withholding of shares for tax purposes reduces the immediate net gain for Mr. Rasche.

Risks

• The value of the phantom stock is tied to the performance of Spire Inc.'s common stock, which is subject to market fluctuations.
• The deferred payment of phantom stock means Mr. Rasche will not have immediate access to the cash value of the vested shares.

Industry Context

This is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the holdings and transactions of key personnel.

Comparison to Industry Standards

• The use of phantom stock as part of executive compensation is a common practice in many industries, including utilities.
• The vesting schedules and deferral periods are typical for performance-based compensation plans.
• The reporting of these transactions via SEC Form 4 is standard procedure for all publicly traded companies in the US.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
• The vesting of phantom stock aligns executive interests with the company's performance, which is generally positive for shareholders.

Key Dates

Keywords

Spire Inc, stock transactions, phantom stock, executive compensation, deferred income, Form 4, insider trading, restricted stock, tax withholding