Form 4: CBRE Acquisition Sponsor, LLC Acquires Shares of Altus Power, Inc. Through Director Compensation Assignment

CBRE Acquisition Sponsor, LLC acquired 14,859 shares of Altus Power, Inc. Class A common stock through an assignment of Restricted Stock Units (RSUs) from director Robert Bernard, alongside holding 24,679,720 shares directly.

Summary

• CBRE Acquisition Sponsor, LLC acquired 14,859 shares of Altus Power, Inc. Class A common stock on April 18, 2024.
• The acquisition was through an assignment of Restricted Stock Units (RSUs) from Robert Bernard, a director of Altus Power, Inc.
• Robert Bernard, who is also Chief Sustainability Officer of an affiliate of CBRE Sponsor, assigned his director compensation to CBRE Sponsor.
• Each RSU represents the right to receive one share of Class A common stock of Altus Power, Inc.
• The RSUs vest 50% on February 28, 2025, and 50% on February 28, 2026, subject to Robert Bernard's continued service.
• CBRE Acquisition Sponsor, LLC directly holds 24,679,720 shares of Altus Power, Inc.
• CBRE Services, Inc. is the sole member of CBRE Acquisition Sponsor, LLC, and is a wholly-owned subsidiary of CBRE Group, Inc.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard filing reflecting compensation and ownership changes. The increased stake could be viewed slightly positively.

Positives

• CBRE Acquisition Sponsor, LLC increasing its stake in Altus Power, Inc. could be seen as a positive signal.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Related Party Transactions

• Assignment of director compensation (RSUs) from Robert Bernard to CBRE Acquisition Sponsor, LLC.

Stakeholder Impact

• Shareholders are informed of changes in ownership by a significant shareholder.
• Robert Bernard's compensation structure is clarified.

Key Dates