Form 4: CMS Energy EVP & COO Berry Receives Restricted Stock Grant

CMS Energy's Executive Vice President and Chief Operating Officer, Tonya L. Berry, was granted 20,451 shares of restricted common stock.

Summary

• Tonya L. Berry, Executive Vice President & Chief Operating Officer of CMS Energy Corp (CMS), was granted 20,451 shares of Common Stock.
• The transaction date for this grant is January 29, 2026.
• The shares were granted at a price of $0, typical for restricted stock awards.
• Following this transaction, Tonya L. Berry directly beneficially owns 70,387 shares of Common Stock.
• The grant is classified as Restricted Stock under CMS' Performance Incentive Stock Plan and is subject to a three-year 'cliff' vesting schedule.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine, positive development for the executive, reflecting standard compensation practices and aligning interests with long-term company performance. It is neutral for the company's immediate outlook as it is a standard compensation event.

Positives

• The restricted stock grant aligns the executive's long-term interests with those of the shareholders, promoting retention and performance.
• The grant is part of a standard executive compensation package, indicating ongoing commitment to key management.

Future Outlook

The restricted stock grant, with its three-year 'cliff' vesting schedule, indicates a forward-looking incentive for the executive, aligning future performance with the company's long-term strategic goals and shareholder value creation.

Industry Context

StockSavvy.ai notes that restricted stock grants are a common form of executive compensation in the utility sector, aligning management incentives with long-term shareholder value and retention. This practice is standard across the industry to ensure stability and performance from key leadership.

Comparison to Industry Standards

• Restricted stock grants with multi-year vesting schedules are standard practice for executive compensation across various industries, including utilities like Duke Energy (DUK) or NextEra Energy (NEE), to promote long-term retention and performance.
• The grant at a $0 price is typical for restricted stock awards, where the value is realized upon vesting, contingent on continued employment and sometimes performance metrics.

Related Party Transactions

• The grant of restricted stock to an executive is a standard compensation arrangement between the company and a related party (the executive).

Stakeholder Impact

• Shareholders: The grant aims to align the executive's financial interests with long-term shareholder value creation, potentially leading to more stable and focused management.
• Employees: No direct impact on general employees is indicated by this specific filing.

Next Steps

• The granted restricted stock will be subject to a three-year 'cliff' vesting schedule, meaning the shares will vest in full after three years from the grant date, contingent on the executive's continued employment.

Key Dates

Recommendation

This Form 4 reports a routine restricted stock grant to an executive, which is a standard component of compensation. It does not present new information that would significantly alter the investment thesis for CMS Energy, thus a 'hold' recommendation is appropriate.

Keywords

CMS Energy, CMS, Tonya L. Berry, Form 4, insider transaction, restricted stock, equity grant, executive compensation