Clearway Energy EVP granted 598 Class C shares

Clearway Energy, Inc. reported that EVP, General Counsel and Corporate Secretary Kevin P. Malcarney acquired 598 shares of Class C common stock at no cost through a grant of dividend equivalent rights linked to his RSUs and RPSUs.

Rhea-AI Filing Summary

Clearway Energy, Inc. reported that EVP, General Counsel and Corporate Secretary Kevin P. Malcarney acquired 598 shares of Class C common stock at no cost through a grant of dividend equivalent rights linked to his RSUs and RPSUs. Following this award, he directly holds 89,560 Class C shares, including 5,339 dividend equivalent rights that are settleable only in Class C stock.

Insider Trade Summary

Grant/Award: 598 shares

Grant/Award 1 txn

Insider Malcarney Kevin P.

Role EVP, GEN COUNSEL AND CORP SECR

Type	Security	Shares	Price	Value
Grant/Award	Class C Common Stock, par value $.01 per share	598	$0.00	$0.00

Holdings After Transaction: Class C Common Stock, par value $.01 per share — 89,560 shares (Direct)

Footnotes (2)

1. F1. Represents dividend equivalent rights accrued on the Reporting Person's Restricted Stock Units ("RSUs") and Relative Performance Stock Units ("RPSUs"), which become exercisable proportionately with the RSUs and RPSUs to which they relate and may only be settled in Class C Common Stock of Clearway Energy, Inc. as determined by the RSU or RPSU to which they relate.
2. F2. Includes 5,339 dividend equivalent rights that may only be settled in Class C Common Stock.

Key Figures

Shares granted: 598 shares Total holdings after transaction: 89,560 shares Dividend equivalent rights: 5,339 rights

3 metrics

Shares granted 598 shares Grant of Class C Common Stock via dividend equivalent rights on 2026-06-01

Total holdings after transaction 89,560 shares Direct Class C Common Stock held by Kevin P. Malcarney after award

Dividend equivalent rights 5,339 rights Dividend equivalent rights that may only be settled in Class C stock

Key Terms

dividend equivalent rights, Restricted Stock Units ("RSUs"), Relative Performance Stock Units ("RPSUs"), Class C Common Stock

4 terms

dividend equivalent rights financial

"Represents dividend equivalent rights accrued on the Reporting Person's Restricted Stock Units ("RSUs") and Relative Performance Stock Units ("RPSUs")"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

Restricted Stock Units ("RSUs") financial

"Represents dividend equivalent rights accrued on the Reporting Person's Restricted Stock Units ("RSUs")"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Relative Performance Stock Units ("RPSUs") financial

"and Relative Performance Stock Units ("RPSUs"), which become exercisable proportionately with the RSUs and RPSUs"

Class C Common Stock financial

"may only be settled in Class C Common Stock of Clearway Energy, Inc."

A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.

FAQ

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

What insider transaction did Clearway Energy (CWEN) report for Kevin P. Malcarney?

Clearway Energy reported that EVP and General Counsel Kevin P. Malcarney received 598 shares of Class C common stock at no cost. The shares came from a grant of dividend equivalent rights tied to his existing RSUs and RPSUs.

How many Clearway Energy (CWEN) shares does Kevin P. Malcarney hold after this Form 4?

After the reported transaction, Kevin P. Malcarney directly holds 89,560 shares of Clearway Energy Class C common stock. This figure includes his base holdings plus dividend equivalent rights that may only be settled in Class C stock.

What are the 598 Clearway Energy (CWEN) shares reported on this Form 4?

The 598 shares represent dividend equivalent rights accrued on Kevin P. Malcarney’s RSUs and RPSUs. These rights become exercisable proportionately with the underlying awards and may only be settled in Clearway Energy Class C common stock, rather than in cash.

What are dividend equivalent rights mentioned in the Clearway Energy (CWEN) filing?

Dividend equivalent rights in this filing accrue on RSUs and RPSUs and mirror dividends on underlying shares. They become exercisable as the related RSUs and RPSUs vest and, in this case, may only be settled by delivering Clearway Energy Class C common stock.

How many dividend equivalent rights does Kevin P. Malcarney have in Clearway Energy (CWEN)?

The filing notes that Kevin P. Malcarney’s holdings include 5,339 dividend equivalent rights. These rights are tied to his RSUs and RPSUs and can be settled only in Clearway Energy Class C common stock, aligning them with the company’s equity.

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

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Accepted by SEC EDGAR 06/03/2026 - 05:40 PM EDT 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

X

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^*

Malcarney Kevin P.

(Last) (First) (Middle)

CLEARWAY ENERGY, INC.

300 CARNEGIE CENTER, SUITE 300

(Street)

PRINCETON NEW JERSEY 08540

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Clearway Energy, Inc. [ CWEN ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, GEN COUNSEL AND CORP SECR

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

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
Class C Common Stock, par value $.01 per share	06/01/2026		A		598	A	(1)	89,560(2)	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. Represents dividend equivalent rights accrued on the Reporting Person's Restricted Stock Units ("RSUs") and Relative Performance Stock Units ("RPSUs"), which become exercisable proportionately with the RSUs and RPSUs to which they relate and may only be settled in Class C Common Stock of Clearway Energy, Inc. as determined by the RSU or RPSU to which they relate.

2. Includes 5,339 dividend equivalent rights that may only be settled in Class C Common Stock.

	/s/ Kevin P. Malcarney	06/03/2026
	** 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)