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

TotalEnergies SE and related entities reported a change in beneficial ownership of Clearway Energy, Inc. shares due to the forfeiture of restricted stock by Clearway Energy Group employees.

Summary

• TotalEnergies SE, along with several related entities, filed a Form 4 with the SEC regarding changes in beneficial ownership of Clearway Energy, Inc. (CWEN) shares.
• The change resulted from the forfeiture of 1,065 shares of Class C Common Stock by employees of Clearway Energy Group LLC under its Long Term Equity Incentive Program on July 5, 2024.
• Following the transaction, the total amount of securities beneficially owned indirectly is 63,159.
• The shares are held directly by Clearway Energy Group, which is solely 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 SE, through its subsidiaries, may be deemed to beneficially own the securities, but disclaims beneficial ownership except to the extent of its pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It reports a change in beneficial ownership due to a routine share forfeiture. There is no inherent positive or negative sentiment associated with the information.

Industry Context

This filing is a routine disclosure related to changes in ownership positions. It reflects the indirect ownership structure of Clearway Energy, Inc. by TotalEnergies SE through a series of subsidiaries and partnerships. Such filings are common for companies with complex ownership structures and significant equity holdings in publicly traded entities.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership as per SEC regulations, ensuring transparency in the market.
• Companies like Brookfield Renewable Partners and NextEra Energy Partners also have similar ownership structures and regularly file such forms.
• The level of detail provided in this filing is consistent with industry standards for disclosing indirect ownership through multiple entities.

Key Dates