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Clearway Energy director reports 975-share acquisition; 63,727 total holdings

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Clearway Energy director Daniel B. More reported an acquisition of company stock tied to deferred compensation. The Form 4 shows 975 Class C common shares were acquired as dividend equivalent rights on deferred stock units, increasing his beneficial ownership to 63,727 shares. The filing notes that 13,020 of those shares are dividend equivalent rights that may only be settled in Class C common stock. The report was filed as an individual Form 4 and identifies the reporting person as a company director.

Positive

  • Insider acquired 975 Class C shares as dividend equivalents on deferred stock units, which increases reported insider ownership
  • Total beneficial ownership disclosed as 63,727 shares, improving transparency
  • 13,020 dividend equivalent rights are explicitly identified as only settleable in Class C common stock

Negative

  • None.

Insights

TL;DR: Routine insider acquisition via deferred compensation, limited direct market impact.

This Form 4 documents a non-open-market acquisition mechanism: 975 shares credited as dividend equivalents on deferred stock units rather than a cash purchase. Such transactions typically reflect compensation settlement mechanics and do not signal active buying pressure. The increase to 63,727 shares, including 13,020 dividend-equivalent shares restricted to settlement in Class C common stock, is a disclosure of ownership change without indication of material strategic shift.

TL;DR: Disclosure aligns with Section 16 rules; transaction appears administrative and standard for director compensation.

The report indicates compliance with reporting obligations for a director receiving equity-based compensation. The transaction code and explanation clarify these are dividend equivalents tied to deferred stock units and exercisable proportionately with those units. From a governance perspective, this is a routine compensation settlement and provides transparency on insider holdings.

Insider More Daniel B.
Role Director
Type Security Shares Price Value
Grant/Award Class C Common Stock, par value $.01 per share 975 $0.00 --
Holdings After Transaction: Class C Common Stock, par value $.01 per share — 63,727 shares (Direct)
Footnotes (1)
  1. Represents dividend equivalent rights accrued on the Reporting Person's Deferred Stock Units, which become exercisable proportionately with the Deferred Stock Units to which they relate and may only be settled in Class C Common Stock of Clearway Energy, Inc. Includes 13,020 dividend equivalent rights that may only be settled in Class C Common Stock.
Form 4 Insider Transactions: What Each Field Means →
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*
More Daniel B.
(Last) (First) (Middle)
CLEARWAY ENERGY, INC.
300 CARNEGIE CENTER, SUITE 300
(Street)
PRINCETON NJ 08540
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Clearway Energy, Inc. [ CWEN ] 		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)
09/02/2025
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
Class C Common Stock, par value $.01 per share 09/02/2025 A 975 A (1) 63,727(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 Deferred Stock Units, which become exercisable proportionately with the Deferred Stock Units to which they relate and may only be settled in Class C Common Stock of Clearway Energy, Inc.
2. Includes 13,020 dividend equivalent rights that may only be settled in Class C Common Stock.
/s/ Kevin P. Malcarney, Attorney-in-Fact 09/04/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What transaction did Clearway Energy director Daniel B. More report on Form 4 (CWEN)?

The Form 4 reports an acquisition of 975 Class C common shares as dividend equivalent rights on deferred stock units.

How many shares does the reporting person beneficially own after the transaction?

The filing discloses 63,727 shares beneficially owned following the reported transaction.

Are any of the reported shares restricted or settlement-limited?

Yes, the filing states 13,020 dividend equivalent rights may only be settled in Class C common stock.

Was the Form 4 filed by one reporting person or multiple?

The document indicates the form was filed by one reporting person (individual filing).

What is the relationship of the reporting person to Clearway Energy (CWEN)?

The filing identifies the reporting person as a director of Clearway Energy, Inc.