NiSource (NYSE: NI) CEO Lloyd Yates receives 43,658-share RSU grant

Rhea-AI Filing Summary

NiSource Inc. reported that Director and President & CEO Lloyd M. Yates received an award of 43,658 shares of common stock on January 22, 2026, at a reference price of $43.52 per share. The award is in the form of Restricted Stock Units, each representing one future share under the company’s 2020 Omnibus Incentive Plan.

The RSUs are scheduled to 100% vest on February 28, 2029, if Yates remains continuously employed with NiSource through that date and certain forfeiture conditions are not triggered. Following this grant, Yates beneficially owns a total of 395,949.938 shares of NiSource common stock, which includes shares acquired through the Employee Stock Purchase Plan and RSUs earned via dividend equivalents on prior director awards.

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^*

Yates Lloyd M

(Last) (First) (Middle)

801 E. 86TH AVE

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Director and President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/22/2026

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	01/22/2026		A		43,658(1)	A	$43.52	395,949.938(2)(3)	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 28, 2029, provided that the reporting person is continuously employed by the Company through and including that date.

2. Includes shares acquired through the NiSource Inc. Employee Stock Purchase Plan.

3. This amount includes RSUs received pursuant to the dividend equivalent provisions of his director RSU awards from 2020 and 2021, and which are subject to the same vesting conditions as the underlying RSUs.

	/s/ Ashley Bancroft, Attorney-in-Fact	01/23/2026
	** 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.

FAQ

What insider transaction did NI CEO Lloyd M. Yates report on January 22, 2026?

Lloyd M. Yates reported the acquisition of 43,658 shares of NiSource common stock on January 22, 2026 through a Restricted Stock Unit award at a reference price of $43.52 per share.

How do the new RSUs granted to NI CEO Lloyd M. Yates vest?

Each RSU represents one share of NiSource common stock and is scheduled to 100% vest on February 28, 2029, as long as Yates remains continuously employed by NiSource through that date and forfeiture conditions are not triggered.

How many NiSource (NI) shares does Lloyd M. Yates beneficially own after this transaction?

After this RSU grant, Lloyd M. Yates beneficially owns 395,949.938 shares of NiSource common stock, including shares from the Employee Stock Purchase Plan and RSUs received as dividend equivalents on prior director awards.

What plan governs the RSU award to NiSource CEO Lloyd M. Yates?

The RSU award to Lloyd M. Yates was granted under the NiSource Inc. 2020 Omnibus Incentive Plan, which provides equity-based compensation such as Restricted Stock Units.

Does Lloyd M. Yates directly hold the NiSource shares reported in this Form 4?

Yes. The filing indicates that the 395,949.938 shares of NiSource common stock reported after the transaction are held with direct ownership by Lloyd M. Yates.

What additional equity is included in Lloyd M. Yates’ total NI share count?

The total includes shares acquired through the Employee Stock Purchase Plan and RSUs received via dividend equivalent provisions on his 2020 and 2021 director RSU awards, which share the same vesting conditions as the underlying RSUs.