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

TotalEnergies SE and related entities report changes in their beneficial ownership of Clearway Energy, Inc. shares due to tax withholding obligations related to vesting restricted stock.

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 with the SEC.
• The filing reports changes in beneficial ownership of Clearway Energy, Inc. (CWEN) Class C Common Stock.
• On May 24, 2024, 9,491 shares were acquired at a price of $26.85 per share.
• This acquisition was due to the withholding of shares to satisfy tax obligations related to the vesting of restricted stock previously granted by Clearway Energy Group LLC to its employees.
• Following the transaction, TotalEnergies SE and related entities indirectly beneficially own 58,003 shares.
• 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.
• Each reporting person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing is a routine disclosure of stock transactions related to tax obligations. There are no indications of significant positive or negative implications for Clearway Energy.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market regarding their investment activities. This filing indicates TotalEnergies' ongoing indirect investment in Clearway Energy through its holdings in Clearway Energy Group.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for insiders and major shareholders in publicly traded companies, ensuring transparency in the market.
• Companies like Brookfield Renewable Partners and NextEra Energy Partners also have similar filings when their major shareholders or insiders change their ownership positions.
• The reported transaction is related to tax obligations, which is a common occurrence in equity compensation plans across the industry.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, and creditors as it is related to tax obligations from vesting restricted stock.

Key Dates