KABAT KEVIN T 4

What Happened Kevin T. Kabat, a non‑employee director of NiSource Inc. (NI), was granted 3,807 restricted stock units (RSUs) on 2026-05-11 at an implied grant value of $47.03 per share, totaling $179,043. This was an award/grant (A) reported on a Form 4 and represents a contingent right to receive one share per RSU upon vesting, not an immediate open‑market purchase of stock.

Key Details

• Transaction date: 2026-05-11; Form 4 filed 2026-05-13 (appears timely).
• Grant details: 3,807 RSUs; grant price/value used $47.03; total value reported $179,043.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: F1 — RSUs vest in full on the first anniversary of the grant date, subject to certain acceleration conditions; F2 — amount includes dividend equivalents credited as additional RSUs, subject to same vesting.
• Plan: Awards issued under the Company’s 2020 Omnibus Plan.
• Transaction code: A = Award/Grant (no sale or exercise involved).

Context RSU grants to non‑employee directors are common as part of annual compensation and reflect deferred equity compensation rather than an immediate purchase or sale. Because these RSUs vest in one year and include dividend equivalents, they do not indicate an immediate change in Kabat’s market exposure until they vest and convert to shares.