Clearway Energy (CWEN) EVP granted 691 Class C stock-equivalent dividend rights

Rhea-AI Filing Summary

Malcarney Kevin P. reported acquisition or exercise transactions in this Form 4 filing.

Clearway Energy, Inc. executive Kevin P. Malcarney, EVP and General Counsel, received an award of 691 Class C Common Stock-equivalent units on March 2, 2026 at no cash cost, representing dividend equivalent rights tied to his existing RSUs and performance stock units. Following this grant, his directly held Class C-related holdings total 87,074 units, including 5,984 dividend equivalent rights that can only be settled in Class C Common Stock.

Insider Trade Summary

1 transaction reported

Mixed 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	691	$0.00	--

Holdings After Transaction: Class C Common Stock, par value $.01 per share — 87,074 shares (Direct)

Footnotes (1)

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. Includes 5,984 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
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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^*

Malcarney Kevin P.

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		A		691	A	(1)	87,074(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 5,984 dividend equivalent rights that may only be settled in Class C Common Stock.

	/s/ Kevin P. Malcarney	03/04/2026
	** 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.

FAQ

What did Clearway Energy (CWEN) disclose about Kevin P. Malcarney’s latest Form 4 transaction?

Clearway Energy reported that EVP and General Counsel Kevin P. Malcarney acquired 691 Class C Common Stock-equivalent units as a grant. These reflect dividend equivalent rights tied to existing RSUs and RPSUs, awarded at no cash cost to him on March 2, 2026.

Was the Clearway Energy (CWEN) Form 4 transaction an open-market stock purchase or sale?

The Form 4 shows no open-market purchase or sale. Instead, Malcarney received 691 Class C Common Stock-equivalent units as a grant of dividend equivalent rights, associated with previously granted RSUs and RPSUs, and not from trading shares in the market.

How many Clearway Energy (CWEN) Class C-related units does Kevin P. Malcarney hold after this Form 4?

After the reported grant, Malcarney directly holds 87,074 Class C Common Stock-related units. This total includes 5,984 dividend equivalent rights that, under the award terms, may only be settled in Class C Common Stock of Clearway Energy when the underlying awards vest.

What are the 691 units reported in Kevin P. Malcarney’s Clearway Energy (CWEN) Form 4?

The 691 units are dividend equivalent rights tied to Malcarney’s existing RSUs and Relative Performance Stock Units. These rights accrue on those awards, become exercisable proportionately as the underlying awards vest, and may only be settled in Clearway Energy Class C Common Stock.

What does the footnote about 5,984 dividend equivalent rights mean for Clearway Energy (CWEN)?

The footnote explains that Malcarney’s holdings include 5,984 dividend equivalent rights. These rights track dividends on prior stock-based awards and can only be settled in Class C Common Stock, aligning his compensation more closely with Clearway Energy’s shareholder returns.