NiSource (NI) director Kevin Kabat awarded 3,807 RSUs as annual equity pay

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

KABAT KEVIN T reported acquisition or exercise transactions in this Form 4 filing.

NISOURCE INC. director Kevin T. Kabat received an equity grant as part of his annual board compensation. He was awarded 3,807 restricted stock units of common stock at a reference value of $47.03 per share. Following this grant, his directly held and RSU-based position totals 66,455.698 shares, including RSUs credited for dividend equivalents that vest on the same schedule.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KABAT KEVIN T

Role null

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

Holdings After Transaction: Common Stock — 66,455.698 shares (Direct, null)

Footnotes (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

RSU grant size: 3,807 shares Grant reference price: $47.03 per share Post-grant holdings: 66,455.698 shares +1 more

4 metrics

RSU grant size 3,807 shares Restricted stock units awarded as annual director compensation

Grant reference price $47.03 per share RSU award price on 2026-05-11

Post-grant holdings 66,455.698 shares Total common stock and RSUs following the transaction

Vesting schedule 1-year cliff vesting RSUs vest in full on first anniversary of grant date

Key Terms

restricted stock units, RSU, dividend equivalent provisions, 2020 Omnibus Plan

4 terms

restricted stock units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

RSU financial

"RSUs represent a contingent right to receive one share of the Company's common stock upon vesting"

Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.

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"

Form 4 Insider Transactions: What Each Field Means →

05/13/2026 - 04:24 PM

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^*

KABAT KEVIN T

(Last)

(First)

(Middle)

NISOURCE INC.

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/11/2026		A		3,807⁽¹⁾	A	$47.03	66,455.698⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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)

Source: View Original Filing on SEC EDGAR

FAQ

What did NISOURCE INC. director Kevin T. Kabat report on this Form 4 for NI?

Kevin T. Kabat reported receiving an award of 3,807 restricted stock units as part of his annual non-employee director compensation. These RSUs represent a contingent right to receive common shares when they vest under NiSource’s 2020 Omnibus Plan.

Is Kevin T. Kabat buying or selling NISOURCE INC. (NI) shares in this filing?

The filing shows an acquisition through a grant, not an open-market trade. Kabat received 3,807 restricted stock units as compensation; no shares were bought or sold on the market in this reported transaction.

When do Kevin T. Kabat’s newly granted NISOURCE INC. RSUs vest?

The 3,807 restricted stock units vest in full on the first anniversary of the grant date, subject to certain acceleration conditions. Once vested, each RSU entitles him to receive one share of NiSource common stock.

How many NISOURCE INC. shares does Kevin T. Kabat hold after this RSU grant?

After this grant, Kabat’s reported holdings total 66,455.698 shares of NiSource common stock. This amount includes restricted stock units and additional RSUs credited under dividend equivalent provisions, all subject to the relevant vesting conditions.

What are dividend equivalent RSUs mentioned in Kevin T. Kabat’s NISOURCE INC. Form 4?

Dividend equivalent RSUs are extra units credited when the company pays dividends, mirroring what a shareholder would receive. In this filing, those additional RSUs are included in Kabat’s total and carry the same vesting conditions as the original RSU awards.

Under which plan were Kevin T. Kabat’s NISOURCE INC. RSUs granted?

The restricted stock units were granted under NiSource’s 2020 Omnibus Plan. This plan governs equity-based awards for eligible participants, including non-employee directors, and specifies vesting terms as well as the conversion of RSUs into common stock.