What was the reported price per share for Richard Patrick Keyes’ CMS (CMS) stock award?

The reported price per share for Richard Patrick Keyes’ 769-share award was $0.00. This reflects that the shares were granted as a compensation award under CMS Energy’s Performance Incentive Stock Plan rather than purchased in an open-market transaction.

CMS Energy director awarded 769 common shares

Keyes Richard Patrick reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

Keyes Richard Patrick reported acquisition or exercise transactions in this Form 4 filing.

CMS Energy Corporation director Richard Patrick Keyes reported an equity award of 769 shares of common stock. The shares were granted at a price of $0.00 per share under CMS Energy Corporation's Performance Incentive Stock Plan and are subject to vesting at the next annual meeting date. Following this grant, Keyes directly holds 769 shares of CMS Energy common stock.

Insider Trade Summary

Grant/Award: 769 shares

Grant/Award 1 txn

Insider Keyes Richard Patrick

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	769	$0.00	$0.00

Holdings After Transaction: Common Stock — 769 shares (Direct)

Footnotes (1)

F1. Grant pursuant to CMS Energy Corporation's Performance Incentive Stock Plan, and subject to vest at the next annual meeting date.

FAQ

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What insider transaction did CMS (CMS) director Richard Patrick Keyes report?

Richard Patrick Keyes reported receiving an award of 769 shares of CMS Energy common stock. The shares were granted at $0.00 per share under the company’s Performance Incentive Stock Plan and will vest at the next annual meeting date.

How many CMS (CMS) shares did Richard Patrick Keyes acquire in this Form 4 filing?

Richard Patrick Keyes acquired 769 shares of CMS Energy common stock. These shares were granted as an equity award at no cash cost per share and are scheduled to vest at the company’s next annual meeting date under its Performance Incentive Stock Plan.

What is the vesting condition for Richard Patrick Keyes’ new CMS (CMS) stock grant?

The 769 CMS Energy shares granted to Richard Patrick Keyes are subject to vesting at the next annual meeting date. This means the award becomes fully earned at that meeting, consistent with the terms of the company’s Performance Incentive Stock Plan.

How many CMS (CMS) shares does Richard Patrick Keyes own after this reported grant?

After this grant, Richard Patrick Keyes directly owns 769 shares of CMS Energy common stock. This total reflects the newly awarded shares reported in the Form 4 and is shown as his direct beneficial ownership following the transaction.

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Accepted by SEC EDGAR 02/23/2026 - 04:43 PM EST

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Keyes Richard Patrick

(Last)

(First)

(Middle)

ONE ENERGY PLAZA

(Street)

JACKSON

49201

(City)

(State)

(Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/20/2026		A		769	A	$0	769⁽¹⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Grant pursuant to CMS Energy Corporation's Performance Incentive Stock Plan, and subject to vest at the next annual meeting date.

Remarks:

	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 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.

Source: View Original Filing on SEC EDGAR