[Form 4] NiSource Inc. Insider Trading Activity

Rhea-AI Filing Summary

Gode Gunnar, SVP Chief Accounting & Tax Officer at NiSource Inc. (NI), reported an acquisition on Form 4. On 08/11/2025 he acquired 605 Restricted Stock Units (RSUs) under the NiSource Inc. 2020 Omnibus Incentive Plan, with a price shown as $42.15, bringing his direct beneficial ownership to 29,730 shares. Each RSU represents a contingent right to receive one share, and, subject to forfeiture conditions, the RSUs vest 100% on February 29, 2028 if employment continues through that date. The filing was completed by one reporting person and signed by an attorney-in-fact on 08/13/2025.

Positive

• 605 RSUs were acquired under the NiSource 2020 Omnibus Incentive Plan as disclosed on Form 4
• The RSUs vest 100% on February 29, 2028, and the filing reports direct beneficial ownership of 29,730 shares

Negative

• None.

Insights

Financial Analyst

TL;DR: Officer received 605 RSUs on 08/11/2025, raising direct ownership to 29,730 shares; award vests in 2028.

The filing documents an acquisition (Transaction Code A) of 605 RSUs recorded at $42.15 that increases reported direct holdings to 29,730 shares. The RSUs are described as contingent rights to one share each and vest 100% on February 29, 2028 subject to continued employment. For analysts, this is a routine equity award disclosed under Section 16; the filing provides clear dates, amounts, and vesting terms to model future dilution or executive ownership trends.

Corporate Governance Expert

TL;DR: Standard time‑based RSU grant with multi‑year vesting; disclosure shows direct ownership and required insider reporting.

The document shows an equity award under the companys 2020 Omnibus Incentive Plan with a single vest date of 02/29/2028. The Form 4 indicates direct beneficial ownership post-transaction and was filed by one reporting person, with signature via attorney-in-fact. From a governance perspective, the form meets Section 16 disclosure requirements and specifies forfeiture conditions and vesting, allowing stakeholders to assess executive alignment and future share issuance timing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gode Gunnar

(Last) (First) (Middle)

801 E. 86TH AVENUE

(Street)

MERRILLVILLE IN 46410

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NISOURCE INC. [ NI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP Chief Accting&Tax Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/11/2025		A		605(1)	A	$42.15	29,730	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Company's common stock pursuant to the NiSource Inc. 2020 Omnibus Incentive Plan. Subject to certain forfeiture conditions, the RSUs will 100% vest on February 29, 2028, provided that the reporting person is continuously employed by the Company through and including that date.

	/s/ Ashley Bancroft, Attorney-in-Fact	08/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Gode Gunnar report on the NiSource (NI) Form 4?

The report shows acquisition of 605 Restricted Stock Units (RSUs) on 08/11/2025, with a price shown as $42.15, increasing direct beneficial ownership to 29,730 shares.

When do the RSUs reported by NI insider Gode Gunnar vest?

The RSUs are described to vest 100% on February 29, 2028, subject to the reporting persons continuous employment through that date.

How many shares does Gode Gunnar beneficially own after the transaction?

The Form 4 lists 29,730 shares as the amount of securities beneficially owned following the reported transaction, held in a direct ownership form.

What transaction code and type are shown on the Form 4 for this NI filing?

The transaction is marked with Transaction Code A (acquisition) and the security type is recorded as Common Stock/RSU award under the company plan.

Who filed and signed the Form 4 for this NiSource insider transaction?

The form lists the reporting person as Gode Gunnar, SVP Chief Accounting & Tax Officer, and it was signed by Ashley Bancroft, Attorney-in-Fact on 08/13/2025.