Form 4: TotalEnergies SE Reports Change in Beneficial Ownership of Clearway Energy, Inc.

TotalEnergies SE and related entities report a forfeiture of Clearway Energy, Inc. restricted stock shares due to employee departures from Clearway Energy Group.

Summary

• TotalEnergies SE, along with several related entities, filed a Form 4 with the SEC on January 3, 2025, regarding changes in beneficial ownership of Clearway Energy, Inc. (CWEN).
• The report details the forfeiture of 1,117 shares of Class C Common Stock on December 31, 2024.
• These shares were previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program to employees.
• The forfeiture occurred because the employees left Clearway Energy Group.
• After the transaction, the reporting entities indirectly beneficially own 113,368 shares.
• The shares are held directly by Clearway Energy Group, of which GIP III Zephyr Acquisition Partners, L.P. is the sole member.
• TotalEnergies Renewables USA, LLC holds 50% of the equity interests in Zephyr GP, the general partner of Zephyr.
• TotalEnergies SE disclaims beneficial ownership of the securities except to the extent of its pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing regarding a minor change in share ownership, with no inherent positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the ownership positions of company insiders and major shareholders. This filing indicates a minor adjustment in TotalEnergies' indirect holdings in Clearway Energy, Inc.

Stakeholder Impact

• The forfeiture of shares has a minimal impact on Clearway Energy, Inc. shareholders as it represents a small percentage of the overall outstanding shares.
• The impact on employees who forfeited the shares is that they no longer have those shares.

Key Dates