[Form 4] NISOURCE INC. Insider Trading Activity

Lee Cassandra S. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Lee Cassandra S. reported acquisition or exercise transactions in this Form 4 filing.

NISOURCE INC. director Cassandra S. Lee received an award of 3,807 shares of common stock in the form of restricted stock units at $47.03 per share as part of her annual non-employee director compensation. These RSUs vest in full on the first anniversary of the grant date, subject to certain acceleration conditions, and each unit represents a contingent right to receive one share of common stock under the company’s 2020 Omnibus Plan. The reported amount includes additional RSUs credited under dividend equivalent provisions that follow the same vesting schedule. Following this grant, Lee directly holds 28,974.049 shares, including RSUs.

Insider Trade Summary

Grant/Award: 3,807 shares

Grant/Award 1 txn

Insider Lee Cassandra S.

Role Director

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

Holdings After Transaction: Common Stock — 28,974.049 shares (Direct)

Footnotes (2)

1. F1. 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. F2. 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 shares Grant price: $47.03 per share Post-grant holdings: 28,974.049 shares

3 metrics

RSUs granted 3,807 shares Restricted stock unit award to director on 2026-05-11

Grant price $47.03 per share Reported price for RSU award

Post-grant holdings 28,974.049 shares Total direct holdings after RSU grant

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

"This amount 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"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did NiSource (NI) director Cassandra S. Lee report in this Form 4?

Cassandra S. Lee reported receiving 3,807 restricted stock units as part of her annual non-employee director compensation. The award is tied to NiSource common stock and is structured under the company’s 2020 Omnibus Plan for equity-based incentives.

How many NiSource shares does Cassandra S. Lee hold after this RSU grant?

After the restricted stock unit grant, Cassandra S. Lee holds 28,974.049 NiSource common shares directly. This figure includes the newly granted RSUs and additional units credited through dividend equivalent provisions that remain subject to the same vesting conditions.

How do the 3,807 NiSource RSUs granted to Cassandra S. Lee vest?

The 3,807 restricted stock units granted to Cassandra S. Lee vest in full on the first anniversary of the grant date. Vesting can accelerate under certain conditions, after which each RSU converts into one share of NiSource common stock, consistent with the plan’s terms.

What is the value per share used for Cassandra S. Lee’s NiSource RSU award?

The RSU award to Cassandra S. Lee is reported at $47.03 per NiSource common share. This price is used in the Form 4 disclosure to quantify the equity-based compensation granted, reflecting the share value at the time of the award.

What plan governs Cassandra S. Lee’s NiSource RSU award and dividend equivalents?

The RSU award and related dividend equivalent units are granted under NiSource’s 2020 Omnibus Plan. This plan outlines the terms for equity incentives, including that dividend equivalent RSUs follow the same vesting conditions as the underlying restricted stock units.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/13/2026 - 04:33 PM EDT Learn about SEC filing dates

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^*

Lee Cassandra S.

(Last) (First) (Middle)

801 E. 86TH AVENUE

(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	28,974.049(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)