Form 4: CBRE Acquisition Sponsor, LLC Reports Changes in Beneficial Ownership of Altus Power, Inc. Shares

CBRE Acquisition Sponsor, LLC reports changes in beneficial ownership of Altus Power, Inc. shares due to the assignment of Restricted Stock Units (RSUs) from a director.

Summary

• CBRE Acquisition Sponsor, LLC filed a Form 4 with the SEC on April 18, 2024, reporting changes in beneficial ownership of Altus Power, Inc. (AMPS) shares.
• The changes are due to the assignment of 14,859 Restricted Stock Units (RSUs) from Robert Bernard, a director of Altus Power, Inc., to CBRE Acquisition Sponsor, LLC.
• Mr. Bernard assigned the RSUs, which represent director compensation, to CBRE Sponsor as he is the Chief Sustainability Officer of an affiliate of 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 to the Issuer.
• Following the reported transaction, CBRE Acquisition Sponsor, LLC beneficially owns 24,679,720 shares of Class A Common Stock indirectly.
• CBRE Services, Inc. is the sole member of CBRE Acquisition Sponsor, LLC, and CBRE Group, Inc. is the parent company of CBRE Services, Inc.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey positive or negative sentiment about the company's prospects.

Positives

• The assignment of RSUs to CBRE Acquisition Sponsor, LLC does not inherently indicate a negative outlook for Altus Power, Inc.

Future Outlook

The document does not contain any specific forward-looking statements or guidance regarding Altus Power, Inc.'s future performance.

Industry Context

This filing reflects insider activity related to equity compensation, which is a common practice in publicly traded companies. It doesn't provide specific insights into the broader renewable energy industry but indicates ongoing alignment between management and major shareholders.

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 transaction has a minimal direct impact on stakeholders, as it primarily involves the transfer of equity compensation between related parties.

Key Dates