Form 4: TotalEnergies SE Reports Change in Beneficial Ownership of Clearway Energy, Inc.

TotalEnergies SE and related entities report a forfeiture of Clearway Energy, Inc. restricted stock shares due to employee departures from Clearway Energy Group.

Summary

• TotalEnergies SE, along with several related entities, filed a Form 4 with the SEC regarding changes in beneficial ownership of Clearway Energy, Inc. (CWEN).
• The report indicates a transaction date of October 25, 2024.
• The transaction involves the forfeiture of 798 shares of Class C Common Stock.
• These shares were previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program to employees.
• Following the reported transaction, TotalEnergies SE indirectly beneficially owns 95,424 shares.
• The shares are held directly by Clearway Energy Group, of which GIP III Zephyr Acquisition Partners, L.P. is the sole member.
• TotalEnergies Renewables USA, LLC holds 50% of the equity interests in Zephyr GP, the general partner of Zephyr.
• TotalEnergies SE and related entities disclaim beneficial ownership of the securities, except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing regarding share forfeiture, with no inherent positive or negative sentiment. It's a neutral event.

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

• The forfeiture of shares has a minimal impact on shareholders, as it is a relatively small number of shares.
• The impact on employees who forfeited the shares is negative, as they lost their unvested equity.

Key Dates