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

TotalEnergies SE and related entities report transactions involving Clearway Energy, Inc. Class C Common Stock, including forfeitures and tax withholding related share disposals.

Summary

• TotalEnergies SE, along with related entities, filed a Form 4 detailing changes in beneficial ownership of Clearway Energy, Inc. (CWEN) Class C Common Stock.
• On February 14, 2025, 958 shares were forfeited due to the forfeiture of restricted stock previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program.
• On February 18, 2025, 1,183 shares were withheld at a price of $26.13 to cover tax obligations related to the vesting of restricted stock.
• Following these transactions, TotalEnergies SE indirectly beneficially owns 116,340 shares of Clearway Energy, Inc. Class C Common Stock.
• 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 except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document reports routine transactions related to equity compensation and tax obligations, indicating a neutral sentiment.

Industry Context

This filing reflects routine transactions related to equity compensation plans and tax obligations, which are common in publicly traded companies within the renewable energy sector.

Comparison to Industry Standards

• Equity compensation and related tax withholding are standard practices among publicly listed companies, including those in the renewable energy sector like NextEra Energy Partners (NEP) and Brookfield Renewable Partners (BEP).
• Form 4 filings are a common occurrence for companies with significant insider ownership, such as Clearway Energy, and are comparable to filings made by executives and major shareholders in similar companies.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they relate to existing equity compensation plans and tax obligations.
• Employees participating in the Long Term Equity Incentive Program are directly affected by the vesting and forfeiture of shares.

Key Dates