[Form 4] Clean Energy Fuels Corp. Insider Trading Activity

Rhea-AI Filing Summary

Insider sale by CLNE officer: The filing shows Barclay Corbus, SVP of Strategic Development at Clean Energy Fuels Corp. (CLNE), sold 105,300 shares of common stock on 09/18/2025 at a weighted average price of $2.6299 per share. After the transactions, the reporting person beneficially owned 1,061,248 shares, held directly. The sale was executed in multiple trades at prices ranging from $2.6050 to $2.6550, and the filer notes availability of detailed per‑trade quantities on request.

Positive

• None.

Negative

• Insider sale: 105,300 shares sold on 09/18/2025, reducing direct ownership to 1,061,248 shares

Insights

Securities Analyst

TL;DR An officer sold a modest stake in CLNE, reducing direct holding to about 1.06 million shares; transaction appears routine.

The report documents an open‑market disposition of 105,300 shares at a weighted average of $2.6299 on 09/18/2025. The filing identifies the seller as an officer (SVP, Strategic Development) and lists the remaining direct ownership. There is no indication in this Form 4 of derivative transactions, option exercises, or special arrangements. The price range disclosed suggests multiple market sales rather than a single block trade. From an investor reporting perspective, this is a required transparency filing that does not, by itself, reveal the motivation behind the sale.

Corporate Governance Expert

TL;DR Disclosure meets Section 16 requirements; sale was signed by an attorney‑in‑fact and includes per‑trade price range disclosure.

The Form 4 properly identifies the reporting person, relationship to the issuer (officer), date of transaction, aggregate shares sold, weighted average price, and post‑transaction beneficial ownership. The explanatory footnote clarifies per‑trade price variability and offers to provide granular trade counts on request, which improves transparency. There are no governance flags in this filing such as unusual restrictions, loans, or related‑party transfers disclosed here.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Corbus Barclay

(Last) (First) (Middle)

C/O CLEAN ENERGY FUELS CORP.

4675 MACARTHUR COURT, SUITE 800

(Street)

NEWPORT BEACH CA 92660

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clean Energy Fuels Corp. [ CLNE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, STRATEGIC DEVELOPMENT

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/18/2025		S		105,300	D	$2.6299(1)	1,061,248	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares were sold in multiple transactions at prices ranging from $2.6050 to $2.6550. The price reported in Column 4 is a weighted average sale price. The Reporting Person undertakes to provide to the Issuer, any security holder of Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

	/s/ Marilyn Vu-Tran, Attorney-in-Fact for Barclay Corbus	09/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did CLNE insider Barclay Corbus do on 09/18/2025?

The filing shows Barclay Corbus sold 105,300 shares of Clean Energy Fuels Corp. common stock on 09/18/2025.

At what price were the CLNE shares sold by the insider?

The reported weighted average sale price was $2.6299 per share with individual trade prices ranging from $2.6050 to $2.6550.

How many CLNE shares does the reporting person own after the sale?

After the reported transactions the reporting person beneficially owned 1,061,248 shares held directly.

What is the reporting person's role at CLNE?

The reporting person is listed as an officer with the title SVP, Strategic Development.

Was the Form 4 signed by the reporting person?

The Form 4 was signed by an attorney‑in‑fact, Marilyn Vu‑Tran, on behalf of Barclay Corbus on 09/18/2025.