Form 4: BlackRock Portfolio Management Reports Change in Beneficial Ownership of Clearway Energy, Inc.

BlackRock Portfolio Management LLC reports a transaction involving Clearway Energy, Inc. Class C Common Stock due to tax withholding obligations and corrects a previous overreporting error.

Summary

• BlackRock Portfolio Management LLC filed a Form 4 detailing changes in beneficial ownership of Clearway Energy, Inc. (CWEN) Class C Common Stock.
• The transaction on April 15, 2025, involved the withholding of 95 shares at a price of $29.07 to satisfy tax obligations related to the vesting of restricted stock granted by Clearway Energy Group LLC.
• Following the reported transaction, BlackRock Portfolio Management LLC beneficially owns 77,310 shares.
• The filing also corrects a previous error that overreported the Reporting Person's grant of shares by 821 shares.
• BlackRock Portfolio Management LLC disclaims beneficial ownership of the securities reported, except to the extent of their respective pecuniary interest.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing. The correction of an error is a positive sign of diligence. The tax withholding is a neutral event.

Positives

• The filing corrects a previous overreporting error, providing more accurate information about BlackRock's holdings.

Management Comments

• BlackRock Portfolio Management LLC and the GIP Entities disclaim beneficial ownership of the securities reported herein, except to the extent of their respective pecuniary interest therein, if any, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended, BlackRock Portfolio Management LLC and the GIP Entities state that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the securities reported herein for purposes of Section 16 or for any other purpose.

Industry Context

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

Stakeholder Impact

• Shareholders are informed about changes in ownership structure.
• The correction of the overreported shares provides more accurate information to stakeholders.

Key Dates

Keywords

beneficial ownership, Form 4, Clearway Energy, BlackRock, CWEN, securities, transaction, shares, stock