[Form 4] CMS Energy Corporation Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction summary for CMS Energy Corporation (CMS)

Shaun M. Johnson, SVP and General Counsel, reported a sale of 715 shares of Common Stock on 09/10/2025, at a reported price of $0 (transaction code G). After the reported transaction, Johnson's beneficial ownership is 94,176 shares held directly. The filing notes an adjustment of 879 additional shares added to total holdings through dividend reinvestment or equivalents tied to restricted stock awards under the CMS Performance Incentive Stock Plan.

Positive

• Timely Section 16 disclosure filed
• Dividend reinvestment added 879 shares to holdings

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider disclosure of a small sale and dividend reinvestment; no material governance red flags.

The Form 4 discloses a single non-derivative sale of 715 shares by the company's SVP and General Counsel, leaving total direct holdings of 94,176 shares. The filing also documents an administrative adjustment of 879 shares from dividend reinvestment tied to restricted stock awards. This appears to be a standard Section 16 disclosure with an attorney-in-fact signature and does not indicate unusual trading patterns or governance concerns based on the information provided.

Securities Analyst

TL;DR: Transaction is small relative to reported holdings and shows dividend reinvestment activity; not material to valuation.

The reported sale of 715 shares represents a small fraction of the 94,176 shares held post-transaction. The note that 879 shares were added via dividend reinvestment or equivalents under the Performance Incentive Stock Plan explains a change in holdings. There are no derivative transactions or large shifts in ownership disclosed that would materially affect investor assessment based on this filing alone.

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^*

Johnson Shaun M

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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	09/10/2025		G		715	D	$0	94,176	D(1)

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 total holdings reflect an adjustment of 879 additional shares of Common Stock of CMS acquired as a result of dividend reinvestment or equivalents pursuant to the Restricted Stock awards granted in accordance with the provisions of the CMS Performance Incentive Stock Plan.

Remarks:

	Rhonda M. Morris, Attny-in-Fact	09/11/2025
	** 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.

FAQ

What insider transaction did Shaun M. Johnson report on Form 4 for CMS?

He reported a sale of 715 shares of CMS common stock on 09/10/2025, with 94,176 shares beneficially owned after the transaction.

Did the Form 4 disclose any derivative transactions for CMS (ticker CMS)?

No. The filing reports only a non-derivative transaction in Common Stock and no derivative securities.

What caused the reported increase of 879 shares in total holdings?

The filing states the 879-share increase resulted from dividend reinvestment or equivalents under restricted stock awards in the CMS Performance Incentive Stock Plan.

Who signed the Form 4 for the reporting person at CMS?

The form was signed by Rhonda M. Morris, Attorney-in-Fact on 09/11/2025.

Is the reported sale material relative to the reporting person's holdings?

Based on the filing, the sale of 715 shares leaves 94,176 shares owned; the filing does not indicate the sale is material to total ownership.