Form 4: Altus Power Director Robert Bernard Reports Stock Award and Transfer

Director Robert Bernard reports the acquisition of 29,551 shares of Altus Power Class A Common Stock as Restricted Stock Units (RSUs) and subsequent transfer of the same amount to CBRE Acquisition Sponsor, LLC.

Summary

• Robert Bernard, a director of Altus Power, Inc., reported the acquisition of 29,551 shares of Class A Common Stock in the form of Restricted Stock Units (RSUs) on June 20, 2024.
• The RSUs were awarded under the company's 2021 Omnibus Incentive Plan.
• These RSUs vest fully on the date of Altus Power's 2025 annual meeting of stockholders, expected in May 2025, contingent upon continued service.
• On the same day, Mr. Bernard assigned these 29,551 RSUs to CBRE Acquisition Sponsor, LLC.
• This assignment represents director compensation earned from Altus Power, as Mr. Bernard is the Chief Sustainability Officer of an affiliate of CBRE Sponsor.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing detailing stock-based compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Future Outlook

The RSUs vest in full on the date of the Issuer's 2025 annual meeting of stockholders, which is expected to take place in May 2025, subject to the Reporting Person's continued service to the Issuer through such date.

Management Comments

• The Reporting Person is Chief Sustainability Officer of an affiliate of CBRE Sponsor and has assigned all director compensation earned from the Issuer to CBRE Sponsor.

Industry Context

This filing reflects standard executive compensation practices, where stock-based awards are used to align the interests of directors and officers with those of the company's shareholders. The assignment of compensation to CBRE Acquisition Sponsor, LLC is specific to the director's employment arrangement.

Related Party Transactions

• The assignment of RSUs from Robert Bernard to CBRE Acquisition Sponsor, LLC, is a related party transaction, as Mr. Bernard is the Chief Sustainability Officer of an affiliate of CBRE Sponsor.

Stakeholder Impact

• The granting of RSUs aligns the director's interests with those of shareholders, as the value of the RSUs is tied to the company's stock performance.

Key Dates