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

TotalEnergies SE and related entities report changes in their beneficial ownership of Clearway Energy, Inc. Class C Common Stock due to forfeiture of restricted stock.

Summary

• TotalEnergies SE and several related entities, including TotalEnergies Gestion USA SARL, TotalEnergies Holdings USA, Inc., TotalEnergies Delaware, Inc., and TotalEnergies Renewables USA, LLC, filed a Form 4 with the SEC regarding changes in their beneficial ownership of Clearway Energy, Inc. (CWEN).
• The changes are due to the forfeiture of Clearway Energy, Inc. restricted stock previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program to its employees.
• On June 18, 2024, 1,723 shares of Class C Common Stock were forfeited.
• On June 21, 2024, an additional 213 shares of Class C Common Stock were forfeited.
• Following these transactions, TotalEnergies' indirect beneficial ownership of Class C Common Stock is 60,152 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 Holdings GP, LLC, the general partner of Zephyr.
• Each reporting person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in ownership. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

This filing is a routine disclosure related to changes in ownership positions by major shareholders and is typical for publicly traded companies. It reflects adjustments in equity holdings due to employee incentive programs.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, as mandated by the SEC.
• Similar filings are common among companies with significant insider ownership, such as those with large private equity or strategic investors like TotalEnergies.
• The level of detail provided in this filing is consistent with regulatory requirements and industry norms for transparency.

Stakeholder Impact

• The forfeiture of shares has a minimal impact on existing shareholders as it represents a small adjustment in the overall share distribution.
• Employees who forfeited the restricted stock are directly impacted, as they no longer hold those shares.

Key Dates