Lee Cassandra S. 4

What Happened

• Cassandra S. Lee, a non-employee director of NiSource Inc. (ticker: NI), was granted 3,807 restricted stock units (RSUs) on 2026-05-11. The grant is reported at an imputed price of $47.03 per share for a total value of $179,043. This was an award/grant of RSUs (transaction code A), not an open-market purchase or sale—typical director compensation rather than a trading signal.

Key Details

• Transaction date: 2026-05-11; Filed on Form 4: 2026-05-13 (timely filing).
• Grant size and value: 3,807 RSUs @ $47.03 each = $179,043.
• Shares owned after transaction: not disclosed in the Form 4 filing.
• Notable footnotes:
  • F1: RSUs vest in full on the first anniversary of the grant date, subject to certain acceleration conditions; each RSU converts to one share upon vesting under the company's 2020 Omnibus Plan.
  • F2: The grant includes dividend equivalents credited as additional RSUs that are subject to the same vesting conditions as the underlying RSUs.
• Transaction type: A = Award/Grant of restricted stock units.

Context

• RSU grants to non-employee directors are common as part of annual compensation and represent a contingent right to receive shares upon vesting; they do not reflect an immediate change in share ownership or an open-market purchase. The award will convert to shares only if and when the RSUs vest (typically one year here), so there is no immediate share sale or cash received.