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

TotalEnergies SE and related entities report transactions involving Clearway Energy, Inc. Class C Common Stock, including acquisitions, disposals, and forfeitures related to Clearway Energy Group's Long Term Equity Incentive Program.

Summary

• TotalEnergies SE and several related entities, including TotalEnergies Gestion USA SARL, TotalEnergies Holdings USA, Inc., TotalEnergies Delaware, Inc., and TotalEnergies Renewables USA, LLC, filed a Form 4 detailing changes in their beneficial ownership of Clearway Energy, Inc. (CWEN) Class C Common Stock.
• On October 1, 2024, there were multiple transactions: 63,350 shares were acquired at $30.74 per share due to tax withholding obligations, 4,652 shares were acquired at $0.00 due to forfeiture, and 44,328 shares were disposed of at $30.74 per share related to grants under Clearway Energy Group's Long Term Equity Incentive Program.
• Following these transactions, TotalEnergies SE indirectly holds 94,626 shares of Class C Common Stock.
• 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.
• The reporting persons have disclaimed beneficial ownership of the securities, except to the extent of their pecuniary interest.
• The reporting persons have agreed to voluntarily disgorge any profits deemed realized from such transactions to the Issuer.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing transactions related to equity compensation. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Positives

• The reporting persons have agreed to voluntarily disgorge any profits deemed realized from such transactions to the Issuer.

Industry Context

This filing reflects ongoing transactions related to equity compensation plans within Clearway Energy Group, a company in which TotalEnergies has a significant indirect interest. Such transactions are common in publicly traded companies with equity-based compensation programs.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and significant shareholders, as mandated by the SEC.
• Equity incentive programs are a common method of compensation in the energy sector, aligning employee interests with company performance, similar to programs at NextEra Energy, Inc. and Brookfield Renewable Partners L.P.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the changes in ownership percentages, but the overall effect is likely minimal.
• Employees of Clearway Energy Group are directly impacted by the vesting and forfeiture of restricted stock units.

Key Dates