SCHEDULE: American Century Reduces Spire Inc. Stake to 4.6%

American Century Investment Management, Inc., along with its affiliates, reported a reduced beneficial ownership stake in Spire Inc. common stock, now holding 4.6% of the class.

Summary

• American Century Investment Management, Inc., American Century Companies, Inc., and Stowers Institute for Medical Research collectively reported beneficial ownership of 2,708,444 shares of Spire Inc. common stock.
• This represents 4.6% of Spire Inc.'s common stock class.
• The reporting entities hold sole voting power over 2,594,030 shares and sole dispositive power over 2,708,444 shares.
• This filing is Amendment No. 12 to their Schedule 13G, indicating a change from previous disclosures.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Spire Inc.

Sentiment

Score: 4

Explanation: The filing indicates a reduction in institutional ownership below a key threshold, which is generally viewed as a slightly negative signal for the issuer, though the filing itself is a routine disclosure.

Negatives

• American Century Investment Management, Inc. and its affiliates have reduced their beneficial ownership in Spire Inc. to 4.6%, which is below the 5% threshold typically requiring a Schedule 13G filing, suggesting a decreased institutional interest.

Future Outlook

The filing itself does not provide forward-looking statements regarding Spire Inc.'s business operations or financial performance. However, it is notable that the 'Date of Event Which Requires Filing of this Statement' is listed as 09/30/2025, and the signature dates are 11/14/2025, which are future dates relative to the current time of analysis. This is an unusual occurrence for a historical ownership disclosure.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Stakeholder Impact

• Shareholders: Existing shareholders might view the reduction in institutional ownership as a negative signal, potentially impacting investor confidence and share price.

Key Dates

Recommendation

The filing indicates that American Century Investment Management, Inc. and its affiliates have reduced their beneficial ownership in Spire Inc. to 4.6%. This reduction, bringing their stake below the 5% threshold, suggests a decreased conviction or a strategic reallocation of capital by a major institutional investor. Such a move by a sophisticated entity can be interpreted as a negative signal regarding the company's future prospects or relative attractiveness compared to other investment opportunities, potentially leading to a recommendation to sell or reduce exposure.

Keywords

Spire Inc., Common Stock, American Century Investment Management, American Century Companies, Stowers Institute for Medical Research, Schedule 13G, Beneficial Ownership, Institutional Investor, Ownership Disclosure