CMS Energy director granted 2,411 restricted shares

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

Rhea-AI Filing Summary

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

CMS Energy Corp director Richard Patrick Keyes received a grant of 2,411 shares of restricted common stock. The award was made at no cash cost per share under CMS Energy Corporation's Performance Incentive Stock Plan and is scheduled to vest at the next annual meeting date. Following this equity grant, Keyes directly holds 3,180 CMS Energy common shares, reflecting routine stock-based director compensation rather than an open-market purchase or sale.

Insider Trade Summary

Grant/Award: 2,411 shares

Grant/Award 1 txn

Insider Keyes Richard Patrick

Role Director

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

Holdings After Transaction: Common Stock — 3,180 shares (Direct)

Footnotes (1)

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

Key Figures

Restricted stock grant: 2,411 shares Price per share: $0.0000 per share Holdings after grant: 3,180 shares +1 more

4 metrics

Restricted stock grant 2,411 shares Grant of restricted CMS Energy common stock

Price per share $0.0000 per share Equity grant, not open-market purchase

Holdings after grant 3,180 shares Total CMS Energy common shares directly held after transaction

Transaction date May 8, 2026 Date of restricted stock award

Key Terms

Restricted Stock, Performance Incentive Stock Plan, Form 4

3 terms

Restricted Stock financial

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

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Performance Incentive Stock Plan financial

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

Form 4 regulatory

"INSIDER FILING DATA (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 Richard Patrick Keyes report in this Form 4?

Richard Patrick Keyes reported receiving 2,411 shares of restricted CMS Energy common stock. The shares were granted as equity compensation under the company’s Performance Incentive Stock Plan and were not bought on the open market.

How many CMS Energy (CMS) shares does Richard Patrick Keyes now hold?

After the restricted stock grant, Richard Patrick Keyes directly holds 3,180 CMS Energy common shares. This total includes the newly awarded 2,411 restricted shares, which are subject to vesting conditions tied to the next annual meeting.

Was the CMS (CMS) restricted stock grant to Richard Patrick Keyes an open-market purchase?

No, the 2,411 CMS Energy shares were granted as restricted stock at zero cash price per share. They were issued under the Performance Incentive Stock Plan, representing stock-based compensation rather than an open-market transaction.

When will Richard Patrick Keyes’ CMS (CMS) restricted stock award vest?

The 2,411 restricted CMS Energy shares are subject to vesting at the next annual meeting date. Until vesting, the award remains restricted stock granted under CMS Energy Corporation’s Performance Incentive Stock Plan for directors.

What is the significance of the zero price per share in this CMS (CMS) Form 4?

The reported transaction price of $0.0000 per share indicates an equity grant, not a purchase. CMS Energy granted 2,411 restricted shares to Richard Patrick Keyes as compensation, so no cash was paid for the stock in this transaction.

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

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Accepted by SEC EDGAR 05/11/2026 - 06:33 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
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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 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	3,180	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 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)