Form 4: BlackRock Portfolio Management Reports Changes in Clearway Energy Ownership
SEC Form 4
BlackRock Portfolio Management LLC reports transactions involving Clearway Energy, Inc. Class C Common Stock, including acquisitions, disposals, and holdings of Class D Units exchangeable for Class C Common Stock.
Summary
- BlackRock Portfolio Management LLC filed a Form 4 detailing changes in beneficial ownership of Clearway Energy, Inc. securities.
- On March 31, 2025, 385,608 Class C Common Stock were acquired through the exchange of Class D Units.
- On April 1, 2025, 124,151 Class C Common Stock were acquired at $30.47 per share due to tax withholding obligations related to vesting restricted stock.
- Also on April 1, 2025, 550,283 Class C Common Stock were disposed of at $30.47 per share related to the grant of restricted stock.
- Following these transactions, BlackRock Portfolio Management LLC indirectly holds 75,816 shares of Class C Common Stock and 41,576,142 Class D Units through Clearway Energy Group.
- These holdings are subject to an Exchange Agreement where Class D Units can be exchanged for Class C Common Stock on a one-for-one basis.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing changes in ownership. It doesn't convey any particularly positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders and major shareholders, like BlackRock, in the company's securities. This filing indicates activity related to equity compensation plans and the exchange of units for common stock, which are common practices in publicly traded companies.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in the number of outstanding shares.
- Employees receiving restricted stock grants benefit from the equity incentive program.
Key Dates
| Date | Description |
|---|---|
| May 14, 2015 | Date of the Amended and Restated Exchange Agreement |
| March 31, 2025 | Acquisition of 385,608 Class C Common Stock through exchange of Class D Units |
| April 01, 2025 | Acquisition of 124,151 Class C Common Stock and disposal of 550,283 Class C Common Stock |
| April 02, 2025 | Date of BlackRock Portfolio Management LLC signature |
Keywords
Clearway Energy, BlackRock, Beneficial Ownership, Form 4, Class C Common Stock, Class D Units, Exchange Agreement, Securities, Transaction
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