Form 4: Altus Power Director Assigns Stock Units to CBRE Acquisition Sponsor

Robert Bernard, a director of Altus Power, assigned 14,859 Restricted Stock Units (RSUs) to CBRE Acquisition Sponsor, LLC on April 18, 2024.

Summary

• On April 18, 2024, Robert Bernard, a director of Altus Power, Inc., assigned 14,859 Restricted Stock Units (RSUs) to CBRE Acquisition Sponsor, LLC.
• Mr. Bernard is the Chief Sustainability Officer of an affiliate of CBRE Sponsor and has assigned all director compensation earned from the Issuer to CBRE Sponsor.
• Each RSU represents the right to receive one share of Class A common stock of Altus Power.
• The RSUs vest 50% on February 28, 2025, and 50% on February 28, 2026, subject to continued service to the Issuer.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, with no apparent negative implications. The assignment of RSUs is a neutral event.

Industry Context

This transaction reflects standard executive compensation practices, where equity-based awards are used to align the interests of directors with those of the company and its shareholders. The assignment of compensation to CBRE Sponsor suggests a pre-existing agreement related to Mr. Bernard's role.

Related Party Transactions

• The assignment of RSUs to CBRE Acquisition Sponsor, LLC, an entity affiliated with Robert Bernard, constitutes a related party transaction.

Stakeholder Impact

• The transaction has minimal direct impact on stakeholders, as it primarily involves the transfer of equity-based compensation.

Key Dates