Form 4: Hannon Armstrong Executive Pangburn Reports Changes in Beneficial Ownership

Marc T. Pangburn, Chief Revenue and Strategy Officer of Hannon Armstrong, reports changes in beneficial ownership including the grant of LTIP units.

Summary

• Marc T. Pangburn, Chief Revenue and Strategy Officer of HA Sustainable Infrastructure Capital, Inc., filed a Form 4 on March 1, 2025, reporting changes in beneficial ownership.
• The report details the acquisition of 111,000 LTIP Units on March 1, 2025.
• These LTIP Units are convertible into OP Units, which can then be redeemed for cash or shares of Hannon Armstrong common stock.
• Pangburn directly owns 56,791 shares of common stock.
• He indirectly owns 271,624 derivative securities through HASI Management HoldCo, LLC.
• 18,500 LTIP Units did not vest because certain performance targets for the performance period ended December 31, 2024 were not met.

Sentiment

Score: 5

Explanation: This is a routine filing, so the sentiment is neutral.

Negatives

• 18,500 LTIP Units did not vest because certain performance targets for the performance period ended December 31, 2024 were not met.

Future Outlook

The reporting person has the right to cause the Partnership to redeem a portion of the Reporting Person's OP Units for cash in an amount equal to the market value of an equivalent number of shares of common stock, or at the Issuer's option, shares of the Issuer's common stock on a one-for-one basis, subject to certain adjustments.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of company executives.

Key Dates