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

TotalEnergies SE reports a change in beneficial ownership of Clearway Energy, Inc. due to the forfeiture of restricted stock shares.

Summary

• TotalEnergies SE and related entities filed a Form 4 with the SEC on March 12, 2024, reporting changes in their beneficial ownership of Clearway Energy, Inc. (CWEN).
• The change is due to the forfeiture of 2,722 shares of Class C Common Stock on March 8, 2024.
• These shares were previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program to its employees.
• Following the transaction, the total amount of securities beneficially owned following reported transactions is 98,271.
• The securities are indirectly held by Clearway Energy Group, which is wholly owned by GIP III Zephyr Acquisition Partners, L.P. (Zephyr).
• TotalEnergies Renewables USA, LLC holds 50% of the equity interests in Zephyr GP, the general partner of Zephyr.
• TotalEnergies Holdings USA, Inc. is the sole shareholder of TotalEnergies Delaware, Inc., which is the sole member of TotalEnergies Renewables USA, LLC.
• TotalEnergies Gestion USA SARL, a wholly-owned subsidiary of TotalEnergies SE, is the sole shareholder of TotalEnergies Holdings USA, Inc.
• Each of these entities may be deemed to beneficially own the securities, but they disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, and the event described (stock forfeiture) is neutral in 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 change in TotalEnergies' indirect ownership stake in Clearway Energy, Inc., likely due to employee departures or changes in the incentive program.

Stakeholder Impact

• The forfeiture of shares has a minimal impact on Clearway Energy, Inc.'s stakeholders, as it involves a relatively small number of shares and is related to employee equity incentives.

Key Dates