Form 4: Hannon Armstrong Executive Viral Amin Reports Share Transaction

Executive Vice President and Chief Risk Officer of Hannon Armstrong, Viral Amin, reports a transaction involving the withholding of shares to cover tax obligations and the holding of long-term incentive plan units.

Summary

• Viral Amin, EVP and Chief Risk Officer at Hannon Armstrong Sustainable Infrastructure Capital, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report indicates that 679 shares of common stock were withheld to cover tax obligations related to the vesting of 2,038 shares.
• The price per share for the transaction was $27.22, the closing price on November 15, 2024.
• Following the transaction, Mr. Amin directly owns 5,436 shares of common stock.
• Mr. Amin also indirectly holds 12,497 long-term incentive plan units (LTIP Units) through HASI Management HoldCo, LLC.
• These LTIP Units are convertible into operating partnership units (OP Units) which can be redeemed for cash or shares of Hannon Armstrong common stock.

Sentiment

Score: 7

Explanation: The document is a routine filing of an executive share transaction, which is neither positive nor negative. It is a neutral event that provides transparency.

Industry Context

This filing is a routine disclosure of executive share transactions, which is common in publicly traded companies. It provides transparency into the holdings of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The structure of LTIP units and their conversion to OP units is a common method of executive compensation in the financial industry, similar to practices at companies like Blackstone or KKR.
• The tax withholding of shares is a standard procedure to cover tax obligations related to vesting equity.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine executive compensation matter.
• The filing provides transparency to stakeholders regarding executive holdings.

Key Dates

Keywords

Form 4, Beneficial Ownership, Share Transaction, LTIP Units, Hannon Armstrong, HASI, Viral Amin, Executive Compensation, Tax Withholding, Equity Incentive Plan