NiSource Inc. Grants One-Time Award to Executive Vice President

NiSource Inc. (NYSE: NI) disclosed in an 8-K filing on January 22, 2025, that the Compensation and Human Capital Committee of the company’s Board of Directors has granted a one-time award to Michael Luhrs, who serves as the Executive Vice President of Strategy Risk and Chief Commercial Officer.

The award, valued at $2 million on the date of grant, consists of 52,938 restricted stock units (RSUs) that will vest upon specific events. The vesting schedule indicates that 33% of the award will vest on January 22, 2026, another 33% on January 22, 2027, and the remaining 34% on January 22, 2028. Additionally, the award will also vest in conjunction with certain separations from service. Further details regarding the form of the award agreement can be found in Exhibit 10.1 attached to the filing.

In compliance with Section 13 or 15(d) of the Securities Exchange Act of 1934, NiSource Inc. submitted the required filings to the Securities and Exchange Commission, highlighting the departure of Directors or Certain Officers and the financial statements and exhibits related to the award granted to Mr. Luhrs.

As per the filing, NiSource Inc. remains listed on the New York Stock Exchange (NYSE) under the trading symbol NI. The company also clarified that it is not classified as an emerging growth company as defined in Rule 405 of the Securities Act of 1933.

The 8-K filing was signed by Kimberly S. Cuccia, the Senior Vice President, General Counsel, and Corporate Secretary of NiSource Inc., on January 24, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NiSource’s 8K filing here.

NiSource Company Profile

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.