Form 4: Clearway Energy CEO Acquires Shares as Part of Bonus, Surrenders Shares for Tax Obligations

Clearway Energy's CEO, Craig Cornelius, acquired shares as part of his 2024 bonus and surrendered shares to cover tax obligations.

Summary

• On April 1, 2025, Clearway Energy CEO Craig Cornelius acquired 18,953 shares of Class C Common Stock at $30.47 per share as part of his 2024 bonus, bringing his total direct holdings to 373,779 shares.
• Simultaneously, he surrendered 9,625 shares at $30.47 per share to satisfy tax withholding obligations related to the bonus, reducing his direct holdings to 364,154 shares.
• The acquisition was structured as an election to receive a portion of his bonus in stock units rather than cash.
• The tax obligation was satisfied by surrendering common stock for Restricted Stock Units (RSUs) with equivalent value on the exchange date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The CEO receiving stock as part of his bonus indicates confidence in the company, but the simultaneous sale to cover taxes is a standard procedure.

Positives

• The CEO's decision to receive a portion of his bonus in stock units demonstrates confidence in the company's future performance.

Industry Context

This type of transaction is common for executives who are compensated with stock-based awards. It aligns their interests with shareholders and allows them to participate in the company's growth.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, particularly in the energy sector.
• Companies like NextEra Energy and Brookfield Renewable Partners also utilize stock options and restricted stock units as part of their executive compensation packages.
• The specific amount and structure of these awards vary based on company size, performance, and industry benchmarks.

Stakeholder Impact

• The CEO's stock ownership aligns his interests with those of shareholders.
• The transaction itself has a minimal direct impact on other stakeholders.

Key Dates

Keywords

Clearway Energy, CEO, Craig Cornelius, Class C Common Stock, Bonus, Tax Withholding, Form 4, SEC Filing