Form 4: Spire Inc. President & CEO Steven L. Lindsey Reports Acquisition of Phantom Stock

Spire Inc.'s President and CEO, Steven L. Lindsey, acquired 6,200 shares of phantom stock through deferred income plan elections.

Summary

• Steven L. Lindsey, President and CEO of Spire Inc., has reported the acquisition of 6,200 shares of phantom stock.
• These phantom stock acquisitions are a result of elections to defer time-vested restricted stock into his deferred income plan account.
• 3,100 shares of phantom stock vest on November 22, 2027, and are payable in cash in January 2029.
• The other 3,100 shares of phantom stock also vest on November 22, 2027, but are payable in cash in January 2030.
• Each share of phantom stock is equivalent to one share of Spire Inc. common stock.
• The price of the underlying common stock at the time of the transaction was $72.55.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of an executive's stock transaction, which is neither positive nor negative. The sentiment is neutral to slightly positive due to the alignment of executive interests with the company's long-term performance.

Positives

• The acquisition of phantom stock aligns the CEO's interests with the long-term performance of the company.
• The deferred income plan allows for tax-advantaged savings and investment.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when insiders make transactions in their company's stock. It is a routine disclosure and does not indicate any unusual activity.

Comparison to Industry Standards

• The use of phantom stock as part of executive compensation is a common practice among publicly traded companies, particularly in the utility sector.
• Deferred compensation plans are also a standard tool for attracting and retaining executive talent.
• The vesting period of three years is typical for such awards.
• The cash payment structure is also a common approach for phantom stock.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the CEO's interests with the company's long-term performance.

Key Dates

Keywords

phantom stock, deferred income plan, insider trading, executive compensation, Spire Inc., SR, Steven L. Lindsey