NiSource (NI) director receives 3,807 RSUs as annual equity award

Rhea-AI Filing Summary

McAvoy John reported acquisition or exercise transactions in this Form 4 filing.

NiSource Inc. director John McAvoy received an equity award of 3,807 restricted stock units as part of his annual non-employee director compensation. The units are referenced at a price of $47.03 per share and will vest in full on the first anniversary of the grant date, subject to certain acceleration conditions.

Each RSU represents a contingent right to receive one share of NiSource common stock upon vesting under the company’s 2020 Omnibus Plan. The reported amount also includes additional RSUs credited through dividend equivalent provisions, which follow the same vesting schedule. After this grant, McAvoy’s direct holdings total 15,777.114 shares, including these RSUs.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McAvoy John

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,807	$47.03	$179K

Holdings After Transaction: Common Stock — 15,777.114 shares (Direct, null)

Footnotes (1)

1. Represents an award of restricted stock units ("RSU") granted as part of the non-employee director's annual compensation and which vests in full on the first anniversary of the grant date, subject to certain acceleration conditions. RSUs represent a contingent right to receive one share of the Company's common stock upon vesting pursuant to the Company's 2020 Omnibus Plan. This amount includes RSUs received pursuant to the dividend equivalent provisions of the RSU awards, and which are subject to the same vesting conditions as the underlying RSUs.

Key Figures

RSUs granted: 3,807 units Reference share price: $47.03 per share Total shares after grant: 15,777.114 shares +1 more

4 metrics

RSUs granted 3,807 units Non-employee director annual compensation grant

Reference share price $47.03 per share Price associated with RSU award

Total shares after grant 15,777.114 shares Direct holdings following RSU award

Vesting schedule First anniversary of grant date RSUs vest in full, subject to acceleration

Key Terms

restricted stock units ("RSU"), dividend equivalent provisions, 2020 Omnibus Plan

3 terms

restricted stock units ("RSU") financial

"Represents an award of restricted stock units ("RSU") granted as part of the non-employee director's annual compensation"

dividend equivalent provisions financial

"includes RSUs received pursuant to the dividend equivalent provisions of the RSU awards"

2020 Omnibus Plan financial

"upon vesting pursuant to the Company's 2020 Omnibus Plan"

Form 4 Insider Transactions: What Each Field Means →

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^*

McAvoy John

(Last) (First) (Middle)

801 E. 86TH AVE.

(Street)

MERRILLVILLE INDIANA 46410

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2026

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

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

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

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	05/11/2026		A		3,807(1)	A	$47.03	15,777.114(2)	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. Represents an award of restricted stock units ("RSU") granted as part of the non-employee director's annual compensation and which vests in full on the first anniversary of the grant date, subject to certain acceleration conditions. RSUs represent a contingent right to receive one share of the Company's common stock upon vesting pursuant to the Company's 2020 Omnibus Plan.

2. This amount includes RSUs received pursuant to the dividend equivalent provisions of the RSU awards, and which are subject to the same vesting conditions as the underlying RSUs.

	/s/ Ashley Bancroft, Attorney-in-Fact	05/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did NiSource (NI) director John McAvoy report in this Form 4?

John McAvoy reported receiving 3,807 restricted stock units as part of his annual non-employee director compensation. These RSUs give him a contingent right to receive NiSource common shares when they vest under the 2020 Omnibus Plan.

How many NiSource (NI) shares does John McAvoy hold after this transaction?

After this transaction, John McAvoy holds 15,777.114 NiSource shares directly. This total includes the newly granted restricted stock units and RSUs credited under dividend equivalent provisions, all subject to the same vesting conditions.

When do John McAvoy’s newly granted NiSource (NI) RSUs vest?

The 3,807 restricted stock units granted to John McAvoy vest in full on the first anniversary of the grant date. Vesting can be accelerated under certain conditions as provided in NiSource’s 2020 Omnibus Plan and related award terms.

What is the reference price for John McAvoy’s NiSource (NI) RSU grant?

The RSU award is referenced at a price of $47.03 per NiSource share. This figure is used for reporting purposes and helps indicate the notional value of the 3,807 restricted stock units granted to the director as compensation.

What are dividend equivalent RSUs mentioned in the NiSource (NI) filing?

Dividend equivalent RSUs are additional units credited when dividends are paid on NiSource common stock. In this filing, they are included in McAvoy’s reported holdings and are subject to the same vesting conditions as the underlying restricted stock units.