Form 4: Former CenterPoint Energy CEO David Lesar Transfers Shares to Spouse
SEC Form 4
David Lesar, former CEO of CenterPoint Energy, reports the transfer of 408,832 common stock shares to his spouse on March 13, 2024.
Summary
- David Lesar, a former CEO and current director of CenterPoint Energy Inc., filed a Form 4 on March 14, 2024.
- The filing reports a transaction on March 13, 2024, where Mr. Lesar transferred 408,832 shares of CenterPoint Energy common stock to his spouse.
- The transfer was executed at a price of $0 per share.
- Following the transaction, Mr. Lesar directly owns 773,083 shares of common stock, which includes 78,851 time-based restricted stock units (RSUs) payable in February 2025 and 84,964 RSUs payable in February 2026.
- Mr. Lesar also indirectly owns 687,244 shares through his spouse and 37,000 shares through GreenStream Resources LLC.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transfer, with no inherent positive or negative sentiment.
Future Outlook
The vesting and payment of RSUs are conditioned upon positive operating income in the last full calendar year of the restricted period.
Industry Context
Form 4 filings are standard practice for corporate insiders to report changes in their beneficial ownership of company stock, providing transparency to investors.
Related Party Transactions
- The transfer of 408,832 shares to Mr. Lesar's spouse constitutes a related party transaction.
Stakeholder Impact
- The transaction itself is unlikely to have a significant impact on stakeholders, as it is a transfer between related parties and does not involve a change in the overall number of shares outstanding.
Key Dates
| Date | Description |
|---|---|
| 03/13/2024 | Date of stock transfer to spouse. |
| 03/14/2024 | Date of Form 4 filing. |
| February 2025 | RSUs payable under the Issuer's long-term incentive plan. |
| February 2026 | RSUs payable under the Issuer's long-term incentive plan. |
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