NiSource (NI) director Eric Butler receives 3,807 RSUs in annual equity grant

Rhea-AI Filing Summary

NISOURCE INC. director Eric L. Butler received an award of 3,807 shares of common stock in the form of restricted stock units as part of his non-employee director annual compensation. The RSUs vest in full on the first anniversary of the grant date and each unit converts into one share of common stock upon vesting under the company’s 2020 Omnibus Plan. Following this grant and related dividend-equivalent RSUs, Butler holds a total of 67,692.322 shares and RSUs directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BUTLER ERIC L

Role null

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

Holdings After Transaction: Common Stock — 67,692.322 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 shares Grant reference price: $47.03 per share Holdings after grant: 67,692.322 shares/RSUs +1 more

4 metrics

RSUs granted 3,807 shares Restricted stock unit award as director annual compensation

Grant reference price $47.03 per share Valuation reference for RSU award

Holdings after grant 67,692.322 shares/RSUs Total direct position following RSU award

Transaction date May 11, 2026 Grant date of RSU award

Key Terms

restricted stock units ("RSU"), dividend equivalent provisions, 2020 Omnibus Plan, non-employee director's annual compensation

4 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"

non-employee director's annual compensation financial

"granted as part of the non-employee director's annual compensation"

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^*

BUTLER ERIC L

(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	67,692.322(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 INC. (NI) director Eric L. Butler report on this Form 4?

Eric L. Butler reported receiving 3,807 restricted stock units as part of his non-employee director annual compensation. These RSUs convert into common stock upon vesting under NiSource’s 2020 Omnibus Plan.

How many NISOURCE INC. (NI) shares and RSUs does Eric L. Butler hold after this grant?

After the reported grant, Eric L. Butler holds 67,692.322 shares and restricted stock units directly. This total includes RSUs credited through dividend equivalent provisions, which follow the same vesting conditions as the underlying RSUs.

What are the vesting terms of Eric L. Butler’s new RSU award at NISOURCE INC. (NI)?

The 3,807 restricted stock units vest in full on the first anniversary of the grant date, subject to specified acceleration conditions. Once vested, each RSU entitles Butler to receive one share of NiSource common stock under the 2020 Omnibus Plan.

What does the $47.03 figure represent in Eric L. Butler’s NISOURCE INC. (NI) Form 4?

The Form 4 shows a reference price of $47.03 per share for the 3,807 restricted stock units. This figure provides a valuation reference for the equity award but does not represent a market purchase or sale transaction.

How are dividend equivalents treated on Eric L. Butler’s NISOURCE INC. (NI) RSUs?

The filing notes that Butler’s total includes RSUs received through dividend equivalent provisions on prior RSU awards. These dividend-equivalent RSUs are subject to the same vesting conditions as the original underlying RSUs.