Form 4: TotalEnergies SE Reports Share Withholding for Tax Obligations at Clearway Energy, Inc.

TotalEnergies SE and related entities report the withholding of Clearway Energy, Inc. shares to cover tax 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 regarding changes in beneficial ownership of Clearway Energy, Inc. shares.
• The report indicates that 96 shares of Class C Common Stock were withheld on April 15, 2024, at a price of $22.49 per share to satisfy tax withholding obligations.
• These obligations arose in connection with the vesting of restricted stock of Clearway Energy, Inc. previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program to certain of its employees.
• The reporting persons have agreed to voluntarily disgorge any profits deemed realized from such transactions to the Issuer.
• The securities 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.
• Each reporting person disclaims beneficial ownership of the securities reported, except to the extent of their pecuniary interest therein.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing. The agreement to disgorge profits is a positive sign.

Positives

• The reporting persons have agreed to voluntarily disgorge any profits deemed realized from such transactions to the Issuer, which demonstrates a commitment to ethical conduct.

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.

Key Dates