Form 4: Altus Power CEO Sells Shares to Cover Tax Obligations

Altus Power's CEO, Gregg J Felton, sold 71,161 shares of Class A Common Stock to cover tax withholding obligations.

Summary

• Gregg J Felton, CEO and President of Altus Power, Inc., sold 71,161 shares of Class A Common Stock on February 20, 2025.
• The sale was executed at a price of $4.91 per share.
• The transaction was conducted to satisfy tax withholding obligations through a 'sell to cover' arrangement.
• Following the transaction, Felton directly owns 4,023,696 shares and indirectly owns 12,044,603 shares through Felton Asset Management LLC.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transaction is a routine sale to cover tax obligations, and the CEO maintains a significant ownership stake in the company.

Management Comments

• The sale was made to satisfy tax withholding obligations through a 'sell to cover' transaction and does not represent a discretionary trade by the Reporting Person.
• The Reporting Person disclaims beneficial ownership of shares held by Felton Asset Management LLC, except to the extent of his pecuniary interest therein.

Industry Context

Insider transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. However, sales to cover tax obligations are generally viewed as less informative than discretionary sales.

Stakeholder Impact

• The sale of shares could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the reason for the sale.

Key Dates

Keywords

Altus Power, AMPS, Gregg J Felton, CEO, stock sale, Form 4, insider trading, tax withholding, sell to cover, Felton Asset Management LLC