Michael Luhrs compensation by year
NISOURCE Summary Compensation Table · all 3 fiscal years held| Component | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Salary | $422,464 | $591,667 | $641,667 |
| Bonus | $350,000 | $0 | $0 |
| Stock awards | $1,443,585 | $1,417,877 | $3,595,266 |
| Option awards | $0 | $0 | $0 |
| Non-equity incentive | $538,641 | $975,000 | $1,000,000 |
| Pension and deferred compensation | $0 | $0 | $0 |
| All other | $171,754 | $55,558 | $59,430 |
| Total | $2,926,443 | $3,040,101 | $5,296,363 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: NISOURCE INC. DEF 14A filed March 30, 2026, accession 0001140361-26-011851, and prior-year filings. Open the filing on EDGAR.
How this page was built: the NISOURCE INC. filed document, accession 0001140361-26-011851. Every figure is read from that document and cited to the page and table it appears in. Filed March 30, 2026.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| RSU | 91,238 | $3,810,104 | — |
| RSU | 71,171 | $2,972,113 | — |
| RSU | 63,645 | $2,657,806 | — |
| RSU | 52,938 | $2,210,691 | — |
| RSU | 10,723 | $447,792 | — |
| RSU | 8,133 | $339,634 | — |
| RSU | 7,742 | $323,306 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in NISOURCE INC.'s FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Change-in-control & termination
estimated payments NISOURCE discloses, by trigger · FY2025| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Change in control and involuntary termination | $2,705,250 | $8,041,435 | $33,321 | $11,507,632 |
| Disability | — | $4,999,377 | — | $5,702,002 |
| Involuntary termination without cause | $650,000 | — | $14,227 | $689,227 |
| Death | — | $4,999,377 | — | $5,702,002 |
Per the Potential Payments Upon Termination or Change in Control table in NISOURCE INC.'s FY2025 proxy. Estimates as the company printed them; a dash means it printed no figure.
NISOURCE’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Lloyd Yates | President and CEO | $13,197,800 |
| Michael Luhrs · this page | EVP, Technology, Customer and Chief Commercial Officer | $5,296,363 |
| Shawn Anderson | EVP and CFO | $3,296,423 |
| Melody Birmingham | EVP and Group President, Utilities | $3,167,807 |
| William Jefferson | EVP, Chief Operating and Safety Officer | $2,998,480 |
The full NISOURCE compensation record
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How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are NISOURCE's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
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