Berman Melanie B. 4

What Happened
Melanie B. Berman, NiSource’s Executive Vice President — Administration & Chief Human Resources Officer, was granted 5,481 Restricted Stock Units (RSUs) on January 21, 2026. The award is reported at a grant value of $43.79 per share, totaling $240,013. This was a compensation award (grant), not an open-market purchase or sale.

Key Details

• Transaction date and type: 2026-01-21 — Award/Grant of RSUs (coded "A" on the Form 4).
• Grant size and value: 5,481 RSUs at $43.79 each; total reported value $240,013.
• Filing date: Form 4 filed 2026-01-23 (appears timely under the 2-business-day rule).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: F1 — Each RSU represents a contingent right to one share under the NiSource 2020 Omnibus Incentive Plan; the RSUs will vest 100% on February 28, 2029, subject to continuous employment and forfeiture conditions.
• No 10b5-1 plan, immediate sale, or tax-withholding disposition was reported in the provided information.

Context
RSU grants are a form of equity compensation and do not represent an immediate purchase or sale of stock. They typically indicate long-term retention incentives because these units convert into shares only if vesting conditions (here, continued employment through Feb 28, 2029) are met. Such awards are common for executives and are primarily compensation-related rather than a direct signal of near-term market sentiment.