NiSource said on January 25, 2024 that, based on the recommendation of the Compensation and Human Capital Committee, the independent Board members approved a total target direct compensation amount of $10.645 million for Lloyd Yates, President and Chief Executive Officer.

1. 01

   NiSource said on January 25, 2024 that, based on the recommendation of the Compensation and Human Capital Committee, the independent Board members approved a total target direct compensation amount of $10.645 million for Lloyd Yates, President and Chief Executive Officer.

2. 02

   The company said Yates's salary increased from $1.05 million to $1.15 million, his target short-term incentive opportunity rose from 115% to 130%, and his target long-term incentive opportunity increased from $5.0 million to $8.0 million.

3. 03

   NiSource said the short-term incentive opportunity and a portion of the long-term incentive opportunity are subject to performance criteria, including financial, operational excellence and safety metrics. The Committee said it increased the compensation to recognize Yates's leadership and to align his pay with the market for the peer group.

4. 04

   The company said it granted Chief Financial Officer Shawn Anderson a one-time equity award valued at $2 million on the grant date on January 24, 2024, consisting of 79,428 restricted stock units. January 24, 2025 33%, January 24, 2026 33% and January 24, 2027 34% of the award will vest.

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Original filing

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