Form 4: CMS Energy CFO Rejji Hayes Granted 33,144 Restricted Shares

CMS Energy's EVP and CFO, Rejji P. Hayes, was granted 33,144 shares of restricted common stock under the company's Performance Incentive Stock Plan.

Summary

• Rejji P. Hayes, Executive Vice President and Chief Financial Officer of CMS Energy Corp, was granted 33,144 shares of common stock.
• The shares were granted as Restricted Stock pursuant to CMS Energy Corporation's Performance Incentive Stock Plan.
• The grant is subject to a three-year "cliff" vesting schedule.
• Following this transaction, Mr. Hayes beneficially owns a total of 269,725 shares of common stock.
• The transaction date for the grant was January 29, 2026.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, reflecting standard executive compensation practices that align management's interests with long-term company performance and shareholder value.

Positives

• The grant of 33,144 restricted shares to a key executive (EVP/CFO) aligns management's interests with long-term shareholder value.
• The three-year "cliff" vesting schedule encourages executive retention and sustained performance over a significant period.

Future Outlook

The three-year 'cliff' vesting schedule for the restricted stock grant indicates a future incentive for the EVP/CFO, aligning their long-term performance with the company's success and encouraging retention.

Industry Context

StockSavvy.ai notes that restricted stock grants are a common form of executive compensation in the utility sector, aiming to retain key talent and align management incentives with long-term shareholder value creation. This grant to CMS Energy's CFO is consistent with industry practices for executive retention and performance-based awards.

Comparison to Industry Standards

• Restricted stock grants with multi-year vesting schedules are standard practice across the utility industry, similar to compensation structures at peers like DTE Energy, Consumers Energy (a subsidiary of CMS Energy), and Exelon Corporation, which often use such awards to incentivize long-term executive performance and retention.
• The 'cliff' vesting structure, while less common than graded vesting, is still observed in some executive compensation plans, ensuring a significant retention period before the full award is realized.

Stakeholder Impact

• Shareholders: The grant aligns the EVP/CFO's interests with long-term shareholder value through equity ownership and a vesting schedule tied to future performance.
• Employees: No direct impact on general employees, but it signals continued executive stability and commitment from a key leadership figure.

Next Steps

• The restricted stock will vest on January 29, 2029, assuming continued employment and satisfaction of any performance conditions as per the Performance Incentive Stock Plan.

Key Dates

Recommendation

This Form 4 reports a routine restricted stock grant to a key executive, which is a standard component of executive compensation. While it aligns management's interests with shareholders, it does not present new information that would fundamentally alter the investment thesis for CMS Energy, thus a 'hold' recommendation is maintained.

Keywords

CMS Energy, CMS, Rejji Hayes, Restricted Stock, Stock Grant, Executive Compensation, Form 4, Insider Transaction, EVP/CFO