CMS Energy director receives 2,411-share equity grant

CMS Energy Corp director Diane Leopold received an equity grant.

Rhea-AI Filing Summary

CMS Energy Corp director Diane Leopold received an equity grant. She was awarded 2,411 shares of common stock as Restricted Stock Units under CMS Energy Corporation's Performance Incentive Stock Plan, with the units subject to vest at the next annual meeting date.

After this award, Leopold directly holds 5,180 shares of CMS Energy common stock. This is a compensation-related, non-cash acquisition rather than an open-market purchase, and there are no derivative securities reported as remaining positions in this filing.

Insights

Equity compensation analyst

Routine director equity grant, modest size, non-market signal.

Director Diane Leopold received 2,411 Restricted Stock Units of CMS Energy Corp under the company’s Performance Incentive Stock Plan, vesting at the next annual meeting date. The Form 4 shows this as a grant or award rather than a market transaction.

The grant increased her direct common stock holdings to 5,180 shares. Because it is a standard board compensation award at a zero dollar grant price, it carries limited information about her short-term view of the stock. The filing reports no related option exercises, sales, or derivative positions.

Insider Trade Summary

Grant/Award: 2,411 shares

Grant/Award 1 txn

Insider Leopold Diane

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,411	$0.00	$0.00

Holdings After Transaction: Common Stock — 5,180 shares (Direct)

Footnotes (1)

1. F1. Grant of 2,411 shares of Restricted Stock Units pursuant to CMS Energy Corporation's Performance Incentive Stock Plan, and subject to vest at the next annual meeting date.

Key Figures

RSU grant size: 2,411 shares Grant price: $0.00 per share Shares after transaction: 5,180 shares

3 metrics

RSU grant size 2,411 shares Restricted Stock Units granted on 2026-05-08

Grant price $0.00 per share Compensation-related equity award

Shares after transaction 5,180 shares Total CMS Energy common stock directly held after grant

Key Terms

Restricted Stock Units, Performance Incentive Stock Plan, annual meeting date, Form 4

4 terms

Restricted Stock Units financial

"Grant of 2,411 shares of Restricted Stock Units pursuant to CMS Energy Corporation's Performance Incentive Stock Plan"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Performance Incentive Stock Plan financial

"Restricted Stock Units pursuant to CMS Energy Corporation's Performance Incentive Stock Plan"

annual meeting date financial

"subject to vest at the next annual meeting date"

Form 4 regulatory

"Diane Leopold reported receiving 2,411 shares of CMS Energy common stock in this Form 4"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did CMS (CMS) director Diane Leopold report in this Form 4?

Diane Leopold reported receiving 2,411 shares of CMS Energy common stock as Restricted Stock Units. The grant was made under the company’s Performance Incentive Stock Plan and is scheduled to vest at the next annual meeting date, reflecting standard director equity compensation.

How many CMS Energy (CMS) shares did Diane Leopold acquire in this transaction?

She acquired 2,411 shares of CMS Energy common stock in the form of Restricted Stock Units. These units were granted at no cash price to her and are scheduled to vest at the next annual meeting, subject to the plan’s terms and conditions.

What are Diane Leopold’s CMS (CMS) holdings after this equity award?

Following the grant, Diane Leopold directly holds 5,180 shares of CMS Energy common stock. This total reflects her position after adding the 2,411-share Restricted Stock Unit award reported in the Form 4, giving investors a snapshot of her updated direct equity stake.

Was Diane Leopold’s CMS Energy (CMS) Form 4 a stock purchase or a grant?

The Form 4 reflects a grant, not an open-market purchase. It records an award of 2,411 Restricted Stock Units under CMS Energy’s Performance Incentive Stock Plan, with a reported transaction price of $0.00 per share, consistent with compensation-based equity grants to directors.

When do Diane Leopold’s new CMS (CMS) Restricted Stock Units vest?

The 2,411 Restricted Stock Units are subject to vest at the next annual meeting date. Vesting timing comes directly from the plan-related footnote, indicating these shares become earned based on continued service through that upcoming shareholder meeting.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/11/2026 - 06:30 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^*

Leopold Diane

(Last) (First) (Middle)

ONE ENERGY PLAZA

(Street)

JACKSON MICHIGAN 49201

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

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

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

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

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	05/08/2026		A		2,411(1)	A	$0	5,180	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. Grant of 2,411 shares of Restricted Stock Units 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	05/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)