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NiSource CFO reports equity award vesting

NiSource Inc. EVP & CFO Shawn Anderson reported several stock-based compensation events involving the company’s common stock on February 27, 2026.

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

NiSource Inc. EVP & CFO Shawn Anderson reported several stock-based compensation events involving the company’s common stock on February 27, 2026. He acquired 32,551 shares and 23,883 shares through the vesting of performance and special performance stock units granted in 2023.

To cover associated tax withholding obligations, 13,705, 10,056, and 4,414 shares were withheld, classified as tax-withholding dispositions rather than open-market sales. Following these transactions, he directly owned 165,101.298 shares, with an additional 811.5606 shares held indirectly through the NiSource Retirement Savings Plan, including shares from dividend reinvestments.

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Insider Anderson Shawn
Role EVP & CFO
Type Security Shares Price Value
Grant/Award Common Stock 32,551 $47.30 $1.54M
Grant/Award Common Stock 23,883 $47.30 $1.13M
Exercise Price or Tax Liability Common Stock 13,705 $47.30 $648K
Exercise Price or Tax Liability Common Stock 10,056 $47.30 $476K
Exercise Price or Tax Liability Common Stock 4,414 $47.30 $209K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 165,101.298 shares (Direct); Common Stock — 811.5606 shares (Indirect, 401(k))
Footnotes (7)
  1. F1. Vesting of non-derivative performance stock units granted in 2023, which are exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to rule 16b-3(d).
  2. F2. Vesting of non-derivative special performance stock units granted in 2023, which are exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to rule 16b-3(d).
  3. F3. Number of shares reported represent shares withheld to satisfy tax withholding obligations in connection with the vesting of the performance stock units above.
  4. F4. Number of shares reported represent shares withheld to satisfy tax withholding obligations in connection with the vesting of the special performance stock units above.
  5. F5. Number of shares reported represent shares withheld to satisfy tax withholding obligations in connection with the vestings of the 2023 Restricted Stock Unit awards.
  6. F6. Includes shares acquired through dividend reinvestments.
  7. F7. Constitutes shares acquired through the NiSource Inc. Retirement Savings Plan through February 27, 2026.

FAQ

What insider activity did NiSource (NI) report for EVP & CFO Shawn Anderson?
NiSource reported that EVP & CFO Shawn Anderson received vested stock awards and related tax-withholding share dispositions on February 27, 2026. These events reflect equity compensation vesting, not open-market buying or selling, and adjust his reported direct and indirect ownership in NiSource common stock.

How many NiSource (NI) shares did the CFO acquire through awards on February 27, 2026?
Shawn Anderson acquired 32,551 shares and 23,883 shares of NiSource common stock through the vesting of 2023 performance and special performance stock units. These grants represent stock-based compensation awards approved under company plans rather than regular market purchases by the executive.

Why were some NiSource (NI) shares disposed of in the CFO’s Form 4 filing?
Shares labeled as dispositions were withheld to satisfy tax obligations tied to vesting stock awards. Specifically, 13,705, 10,056, and 4,414 shares were used for tax withholding, meaning they were not discretionary open-market sales but automatic transactions linked to equity compensation.

What is Shawn Anderson’s NiSource (NI) share ownership after these transactions?
After the reported transactions, Shawn Anderson directly owned 165,101.298 NiSource common shares. He also indirectly held 811.5606 shares through the NiSource Inc. Retirement Savings Plan, which includes shares accumulated via dividend reinvestments through February 27, 2026.

What types of stock awards vested for NiSource (NI) CFO Shawn Anderson?
The filing shows vesting of non-derivative performance stock units, special performance stock units, and 2023 restricted stock unit awards. These awards, granted in 2023, vested on February 27, 2026 and are treated as exempt under Section 16(b) rule 16b-3(d) for reporting purposes.

How are NiSource (NI) shares in the Retirement Savings Plan treated in this filing?
Shares in the NiSource Inc. Retirement Savings Plan are reported as indirect ownership. The 811.5606 shares include stock acquired through plan contributions and dividend reinvestments through February 27, 2026, reflecting retirement-related holdings separate from directly owned common shares.

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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*
Anderson Shawn
(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)
EVP & CFO
3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026
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 02/27/2026 A 32,551(1) A $47.3 169,393.298 D
Common Stock 02/27/2026 A 23,883(2) A $47.3 193,276.298 D
Common Stock 02/27/2026 F 13,705(3) D $47.3 179,571.298 D
Common Stock 02/27/2026 F 10,056(4) D $47.3 169,515.298 D
Common Stock 02/27/2026 F 4,414(5) D $47.3 165,101.298(6) D
Common Stock 811.5606(7) I 401(k)
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. Vesting of non-derivative performance stock units granted in 2023, which are exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to rule 16b-3(d).
2. Vesting of non-derivative special performance stock units granted in 2023, which are exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to rule 16b-3(d).
3. Number of shares reported represent shares withheld to satisfy tax withholding obligations in connection with the vesting of the performance stock units above.
4. Number of shares reported represent shares withheld to satisfy tax withholding obligations in connection with the vesting of the special performance stock units above.
5. Number of shares reported represent shares withheld to satisfy tax withholding obligations in connection with the vestings of the 2023 Restricted Stock Unit awards.
6. Includes shares acquired through dividend reinvestments.
7. Constitutes shares acquired through the NiSource Inc. Retirement Savings Plan through February 27, 2026.
/s/ Ashley Bancroft, Attorney-in-Fact 03/03/2026
** 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.

Source: View Original Filing on SEC EDGAR