NiSource Management

Management criteria checks 2/4

NiSource's CEO is Lloyd Yates, appointed in Feb 2022, has a tenure of 2.25 years. total yearly compensation is $9.22M, comprised of 11.3% salary and 88.7% bonuses, including company stock and options. directly owns 0.013% of the company’s shares, worth $1.72M. The average tenure of the management team and the board of directors is 2.3 years and 5.3 years respectively.

Key information

Lloyd Yates

Chief executive officer

US$9.2m

Total compensation

CEO salary percentage	11.3%
CEO tenure	2.3yrs
CEO ownership	0.01%
Management average tenure	2.3yrs
Board average tenure	5.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Lloyd Yates's remuneration changed compared to NiSource's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$9m	US$1m	US$662m
Sep 30 2023	n/a	n/a	US$667m
Jun 30 2023	n/a	n/a	US$642m
Mar 31 2023	n/a	n/a	US$655m
Dec 31 2022	US$7m	US$879k	US$749m
Sep 30 2022	n/a	n/a	US$670m
Jun 30 2022	n/a	n/a	US$668m
Mar 31 2022	n/a	n/a	US$661m
Dec 31 2021	US$252k	n/a	US$530m
Sep 30 2021	n/a	n/a	US$448m
Jun 30 2021	n/a	n/a	US$212m
Mar 31 2021	n/a	n/a	US$147m
Dec 31 2020	US$244k	n/a	-US$73m

Compensation vs Market: Lloyd's total compensation ($USD9.22M) is above average for companies of similar size in the UK market ($USD5.61M).

Compensation vs Earnings: Lloyd's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Lloyd Yates (62 yo)

2.3yrs

Tenure

US$9,216,681

Compensation

Mr. Lloyd M. Yates served as Director of NiSource Inc. since March 9, 2020 and serves as its President and Chief Executive Officer since February 14, 2022. Mr. Yates served as an Independent Director of So...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Lloyd Yates	President	2.3yrs	US$9.22m	0.013% $ 1.7m
Shawn Anderson	Executive VP & CFO	1.2yrs	US$2.56m	0.011% $ 1.4m
William Jefferson	Executive VP & Chief Operating and Safety Officer	2.3yrs	US$2.58m	0.0011% $ 139.4k
Melody Birmingham	Executive VP & Group President of Utilities	1.8yrs	US$2.91m	0.0013% $ 159.9k
Michael Luhrs	Executive VP of Strategy & Risk and Chief Commercial Officer	1.2yrs	US$2.93m	0.00020% $ 25.6k
Gunnar Gode	VP, Chief Accounting Officer & Controller	3.8yrs	no data	0.0047% $ 606.3k
Melanie Berman	Chief Human Resources Officer & Senior VP of Administration	2.9yrs	no data	0.0016% $ 200.8k
Kimberly Cuccia	Senior VP	2.5yrs	no data	0.0084% $ 1.1m
Mark Kempic	President & COO of Columbia Gas of Pennsylvania and Maryland	no data	no data	no data
Vincent Parisi	President & COO of NIPSCO	3.9yrs	no data	no data
Jennifer Montague	President & COO of Columbia Gas of Virginia	no data	no data	no data
Kimra Cole	President & COO of Columbia Gas of Kentucky	no data	no data	no data

2.3yrs

Average Tenure

51yo

Average Age

Experienced Management: 0K87's management team is considered experienced (2.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Lloyd Yates	President	4.2yrs	US$9.22m	0.013% $ 1.7m
William Johnson	Independent Director	2.2yrs	US$251.29k	0.0015% $ 190.6k
Peter Altabef	Independent Director	7.3yrs	US$300.00k	0.0080% $ 1.0m
Kevin Kabat	Independent Chairman of the Board	8.8yrs	US$435.00k	0.010% $ 1.3m
Michael Jesanis	Independent Director	16yrs	US$284.00k	0.0094% $ 1.2m
Deborah Henretta	Independent Director	8.8yrs	US$295.00k	0.0010% $ 133.0k
Theodore Bunting	Independent Director	5.7yrs	US$295.00k	0.0063% $ 811.0k
Eric Butler	Independent Director	6.8yrs	US$295.00k	0.010% $ 1.3m
Sondra Barbour	Independent Director	2.3yrs	US$275.00k	0.0016% $ 211.1k
John McAvoy	Independent Director	less than a year	no data	0% $ 0
Deborah A. Hersman	Independent Director	4.9yrs	US$278.00k	0.0033% $ 418.3k
Cassandra Lee	Independent Director	2.3yrs	US$260.81k	0.0016% $ 204.7k

5.3yrs

Average Tenure

62yo

Average Age

Experienced Board: 0K87's board of directors are considered experienced (5.3 years average tenure).

NiSource Management

Management criteria checks 2/4

Key information

Recent management updates

NiSource Inc., Annual General Meeting, May 13, 2024

NiSource Announces Executive Changes for its Subsidiary NIPSCO

Executive VP & Chief Innovation Officer recently sold US$1.0m worth of stock

NiSource Inc. Announces Departure of Donald Brown as Executive Vice President and Chief Innovation Officer, Effective on or Before May 1, 2024

Senior VP recently sold US$318k worth of stock

Insider recently sold US$135k worth of stock

Recent updates

NiSource Inc. to Report Q1, 2024 Results on May 08, 2024

Upcoming dividend of US$0.27 per share

John Chevedden an Exempt Solicitation Statement and Request Vote for the Proposal

NiSource Inc., Annual General Meeting, May 13, 2024

Fourth quarter dividend of US$0.27 announced

NiSource Inc. Declares Quarterly Common Stock Dividend, Payable on May 20, 2024

NiSource Announces Executive Changes for its Subsidiary NIPSCO

Executive VP & Chief Innovation Officer recently sold US$1.0m worth of stock

New minor risk - Shareholder dilution

NiSource Inc. has filed a Follow-on Equity Offering in the amount of $900 million.

Full year 2023 earnings released: EPS: US$1.72 (vs US$1.84 in FY 2022)

NiSource Inc. Announces Departure of Donald Brown as Executive Vice President and Chief Innovation Officer, Effective on or Before May 1, 2024

NiSource Inc. to Report Q4, 2023 Results on Feb 21, 2024

Now 20% undervalued

Third quarter dividend increased to US$0.27

NiSource Inc. Declares Common Stock Dividend, Payable on February 20, 2024

Third quarter 2023 earnings released: EPS: US$0.19 (vs US$0.13 in 3Q 2022)

Upcoming dividend of US$0.25 per share at 4.0% yield

NiSource Inc. to Report Q3, 2023 Results on Nov 01, 2023

NiSource Inc. Declares Common Stock Quarterly Dividend, Payable on November 20, 2023

Second quarter 2023 earnings released: EPS: US$0.11 (vs US$0.13 in 2Q 2022)

Upcoming dividend of US$0.25 per share at 3.6% yield

An affiliate of Blackstone Infrastructure Partners, L.P., a fund managed by Blackstone Inc. (NYSE:BX), entered into a definitive agreement to acquire a 19.9% equity interest in Northern Indiana Public Service Company, LLC from NiSource Inc. (NYSE:NI) for $2.2 billion.

NiSource Inc. Declares Common Stock Dividend, Payable on August 18, 2023

Senior VP recently sold US$318k worth of stock

First quarter 2023 earnings released: EPS: US$0.77 (vs US$1.02 in 1Q 2022)

Upcoming dividend of US$0.25 per share at 3.5% yield

Insider recently sold US$135k worth of stock

Full year 2022 earnings released: EPS: US$1.84 (vs US$1.35 in FY 2021)

NiSource Inc. to Report Q4, 2022 Results on Feb 22, 2023

NiSource Inc. Declares Quarterly Dividend, Payable on February 17, 2023

Third quarter 2022 earnings released: EPS: US$0.13 (vs US$0.13 in 3Q 2021)

Upcoming dividend of US$0.23 per share

NiSource Inc. to Report Q3, 2022 Results on Nov 07, 2022

NiSource Inc. Announces Departure of Pablo Vegas as Executive Vice President

NiSource Inc. Declares Quarterly Dividend on Common Stock, Payable on November 18, 2022

Second quarter 2022 earnings released: EPS: US$0.13 (vs US$0.12 in 2Q 2021)

High number of new directors

Upcoming dividend of US$0.23 per share

NiSource Inc. to Report Q2, 2022 Results on Aug 03, 2022

NiSource Companies Launch Chatbots and Live Chat to Provide an Improved Customer Experience

NiSource Inc. Announces Executive Changes, Effective July 1, 2022

NiSource Inc. Declares Quarterly Common Stock Dividend, Payable on August 19, 2022

First quarter 2022 earnings released: EPS: US$1.02 (vs US$0.72 in 1Q 2021)

NiSource Inc. Announces Retirement of Violet Sistovaris as Executive Vice President and Chief Experience Officer

High number of new directors

Upcoming dividend of US$0.23 per share

Upcoming dividend of US$0.23 per share

NiSource Inc., Annual General Meeting, May 24, 2022

NiSource Inc. to Report Q1, 2022 Results on May 04, 2022

Nisource Inc. Appoints Kim Cuccia as General Counsel and Corporate Secretary

High number of new directors

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

NiSource Inc. to Report Q4, 2021 Results on Feb 23, 2022

Upcoming dividend of US$0.23 per share

NiSource Inc. Announces Executive Changes

Third quarter 2021 earnings released: EPS US$0.13 (vs US$0.49 loss in 3Q 2020)

NiSource Inc. Companies Launch Mobile Apps to Enhance Customer Experience

NiSource Inc. Provides Earnings Guidance for the Year 2021

Second quarter 2021 earnings released: EPS US$0.12 (vs US$0.048 loss in 2Q 2020)

Nisource Inc. Declares Quarterly Common Stock Dividend, Payable August 20, 2021

NiSource Inc. Does Not Provide Earnings Guidance for the Year 2021

Upcoming dividend of US$0.22 per share

Senior VP & President of NIPSCO recently sold US$111k worth of stock

NiSource Inc. Declares Quarterly Common Stock Dividend, Payable on May 20, 2021

Full year 2020 earnings released: US$0.19 loss per share (vs US$0.88 profit in FY 2019)

Revenue misses expectations

Anne-Marie D'Angelo Elevated to Executive Vice President at NiSource

Upcoming Dividend of US$0.22 Per Share