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. shares due to tax withholding obligations related to vesting 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.
• The filing reports changes in beneficial ownership of Clearway Energy, Inc. (CWEN) Class C Common Stock.
• On May 24, 2024, 9,491 shares were acquired at a price of $26.85 per share.
• This acquisition was due to the withholding of shares to satisfy tax obligations related to the vesting of restricted stock previously granted by Clearway Energy Group LLC to its employees.
• Following the transaction, TotalEnergies SE and related entities beneficially own 58,003 shares indirectly through Clearway Energy Group.
• The entities disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. The transaction is related to tax obligations and does not necessarily reflect a positive or negative outlook on the company.

Management Comments

• Each Reporting Person disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.
• Solely for purposes of Section 16 of the Exchange Act, each Reporting Person may be deemed a 'director by deputization'.

Industry Context

This filing reflects routine transactions related to equity compensation and tax obligations within a publicly traded company. It is common for major shareholders like TotalEnergies to adjust their holdings in companies like Clearway Energy.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and major shareholders in publicly traded companies.
• The transaction is related to tax obligations from vesting restricted stock, which is a common practice in equity compensation plans.
• TotalEnergies' indirect ownership through Clearway Energy Group is a typical structure for strategic investments in the renewable energy sector.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders as it relates to internal tax obligations and vesting of restricted stock.

Key Dates