CMS Energy (NYSE: CMS) director Diane Leopold reports zero share holdings on Form 3

Rhea-AI Filing Summary

CMS Energy Corp director Diane Leopold filed an initial insider ownership report. The Form 3 shows she holds no shares of CMS Energy common stock and no depositary shares representing 4.2% Perpetual Preferred Stock, Series C, with zero shares reported for both securities.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Leopold Diane

Role Director

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--
holding	Depositary Shares - 4.2% Perpetual Preferred Stock, Series C	--	--	--

Holdings After Transaction: Common Stock — 0 shares (Direct); Depositary Shares - 4.2% Perpetual Preferred Stock, Series C — 0 shares (Direct)

Footnotes (1)

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
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1. Name and Address of Reporting Person^*

Leopold Diane

(Last) (First) (Middle)

ONE ENERGY PLAZA

(Street)

JACKSON MI 49201

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/20/2026

3. Issuer Name and Ticker or Trading Symbol
CMS ENERGY CORP [ CMS ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	0	D
Depositary Shares - 4.2% Perpetual Preferred Stock, Series C	0	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

The Power of Attorney is attached at Exhibit 24. No securities are beneficially owned.

	Rhonda M. Morris, Attny-in-fact	02/23/2026
	** 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 5 (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 does the Form 3 filed by Diane Leopold for CMS indicate?

The Form 3 indicates that director Diane Leopold currently holds no CMS Energy Corp securities. It reports zero shares of common stock and zero depositary shares of 4.2% Perpetual Preferred Stock, Series C, as of the reported date.

Which CMS Energy securities are covered in Diane Leopold’s Form 3?

The Form 3 covers CMS Energy common stock and depositary shares representing 4.2% Perpetual Preferred Stock, Series C. For both types of securities, the filing reports total shares following the report date as 0.0000.

Does Diane Leopold report any CMS Energy share ownership on this Form 3?

No, Diane Leopold reports no CMS Energy share ownership on this Form 3. The filing lists total shares following the reporting date as 0.0000 for both common stock and the 4.2% Perpetual Preferred Stock, Series C depositary shares.

What is the ownership type reported for Diane Leopold’s CMS holdings?

The Form 3 classifies the ownership type as direct for both securities, but with total shares following the transaction shown as 0.0000. This means she is listed as a direct owner yet reports no current holdings in either security.

What is the transaction status shown in Diane Leopold’s CMS Form 3?

The Form 3 classifies the entries as holdings with unknown transaction codes and directions. It functions as an initial ownership report, showing zero total shares for CMS common stock and the 4.2% Perpetual Preferred Stock, Series C depositary shares.