Form 4: HA Sustainable Infrastructure Capital Director Boosts Stake with Stock and LTIP Unit Acquisitions

Lizabeth A. Ardisana, a Director at HA Sustainable Infrastructure Capital, Inc. (HASI), reported an increase in her beneficial ownership through the acquisition of common stock and Long-Term Incentive Plan (LTIP) Units.

Summary

• Director Lizabeth A. Ardisana acquired 1,545 shares of HA Sustainable Infrastructure Capital, Inc. common stock on June 4, 2025.
• Of the acquired common stock, 720 shares were obtained through a dividend reinvestment program since her last Section 16 filing.
• Ms. Ardisana also acquired 5,166 Long-Term Incentive Plan (LTIP) Units on June 4, 2025.
• Following these transactions, Ms. Ardisana directly owns 1,545 shares of common stock.
• She beneficially owns a total of 16,414 LTIP Units, which are convertible into an equivalent number of OP Units and are eligible for redemption into cash or common stock upon meeting specific conditions outlined in the Partnership Agreement.

Sentiment

Score: 7

Explanation: The acquisition of additional common stock and LTIP Units by a director indicates confidence in the company's future performance and aligns management's interests with shareholders, which is a positive signal.

Positives

• Director Lizabeth A. Ardisana increased her direct ownership in the company by acquiring 1,545 shares of common stock, including 720 shares through a dividend reinvestment program, signaling confidence in the company's performance and future outlook.
• The acquisition of 5,166 LTIP Units further aligns the director's interests with long-term shareholder value, as these units are designed to convert into common stock equivalents upon vesting and parity achievement.

Negatives

• NA

Risks

• NA

Future Outlook

The document does not provide a future outlook or guidance from the company. It solely reports an insider transaction.

Management Comments

• NA

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends. It reflects a director's personal investment decision within the sustainable infrastructure capital sector.

Comparison to Industry Standards

• NA

Related Party Transactions

• Acquisition of 1,545 shares of common stock and 5,166 LTIP Units by Lizabeth A. Ardisana, a Director of HA Sustainable Infrastructure Capital, Inc.

Stakeholder Impact

• Shareholders may interpret the director's increased ownership as a positive signal of confidence in the company's future prospects and alignment of interests.

Next Steps

• The acquired LTIP Units are eligible for future conversion into OP Units and subsequent redemption for cash or common stock, subject to the satisfaction of specific conditions outlined in the Partnership Agreement.

Key Dates

Keywords

HA Sustainable Infrastructure Capital, HASI, Lizabeth A. Ardisana, Director, Insider Transaction, Form 4, Common Stock, LTIP Units, Dividend Reinvestment Program, Beneficial Ownership