CMS Energy director sells 14,914 company shares

CMS Energy Corp director John G. Russell reported an open-market sale of 14,914 shares of common stock on February 20, 2026.

Rhea-AI Filing Summary

CMS Energy Corp director John G. Russell reported an open-market sale of 14,914 shares of common stock on February 20, 2026. The weighted average sale price was $75.755 per share, across multiple trades between $75.75 and $75.76. After this transaction, he directly owns 131,568 shares of CMS Energy common stock.

Insider Trade Summary

Net Seller: 14,914 shares

Net Sell 1 txn

Insider RUSSELL JOHN G

Role Director

Sold 14,914 shs ($1.13M)

Type	Security	Shares	Price	Value
Sale	Common Stock	14,914	$75.755	$1.13M

Holdings After Transaction: Common Stock — 131,568 shares (Direct)

Footnotes (1)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.75 to $75.76, inclusive. The reporting person undertakes to provide to CMS Energy Corporation ("CMS"), any security holder of CMS, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.

FAQ

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What did CMS (CMS) director John G. Russell report in this Form 4?

CMS director John G. Russell reported an open-market sale of 14,914 shares of CMS Energy common stock. The transaction occurred on February 20, 2026, at a weighted average price of $75.755 per share, leaving him with 131,568 directly owned shares afterward.

How many CMS Energy (CMS) shares did John G. Russell sell and at what price?

John G. Russell sold 14,914 shares of CMS Energy common stock. The reported weighted average sale price was $75.755 per share, with individual trades executed in a narrow range between $75.75 and $75.76, according to the detailed footnote disclosure.

How many CMS (CMS) shares does John G. Russell hold after this reported sale?

Following the reported sale, John G. Russell directly holds 131,568 shares of CMS Energy common stock. This figure reflects his ownership immediately after disposing of 14,914 shares in open-market transactions on February 20, 2026, as disclosed in the Form 4 filing.

What does the Form 4 footnote reveal about CMS (CMS) director Russell’s sale prices?

The footnote explains that the $75.755 price is a weighted average. Russell’s 14,914 shares were sold in multiple transactions at prices ranging from $75.75 to $75.76. He has agreed to provide full trade-by-trade pricing information upon request to CMS, shareholders, or SEC staff.

Was John G. Russell’s CMS (CMS) transaction a direct open-market sale?

Yes, the transaction is reported as a direct, non-derivative open-market sale of CMS Energy common stock. The Form 4 classifies it under transaction code “S,” with ownership marked as direct, indicating the shares were held and sold directly by John G. Russell.

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Accepted by SEC EDGAR 02/23/2026 - 04:41 PM Learn about SEC filing dates

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^*

RUSSELL JOHN G

(Last) (First) (Middle)

ONE ENERGY PLAZA

(Street)

JACKSON MI 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/20/2026		S		14,914	D	$75.755(1)	131,568	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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.75 to $75.76, inclusive. The reporting person undertakes to provide to CMS Energy Corporation ("CMS"), any security holder of CMS, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.

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.
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