Clearway Energy CFO acquires 860 Class C shares

Clearway Energy, Inc. (CWEN) reported that its EVP and CFO, Sarah Rubenstein, acquired 860 shares of Class C Common Stock on September 1, 2026 through a grant classified as a dividend-equivalent award tied to existing RSUs and RPSUs.

Rhea-AI Filing Summary

Clearway Energy, Inc. (CWEN) reported that its EVP and CFO, Sarah Rubenstein, acquired 860 shares of Class C Common Stock on September 1, 2026 through a grant classified as a dividend-equivalent award tied to existing RSUs and RPSUs. Following this accrual, she directly holds 52,999 Class C shares, including 4,239 dividend equivalent rights that may only be settled in Class C Common Stock.

Insider Trade Summary

Grant/Award: 860 shares

Grant/Award 1 txn

Insider Rubenstein Sarah

Role EVP AND CFO

Type	Security	Shares	Price	Value
Grant/Award	Class C Common Stock, par value $.01 per share F1, F2	860	--	--

Holdings After Transaction: Class C Common Stock, par value $.01 per share — 52,999 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 4,239 dividend equivalent rights that may only be settled in Class C Common Stock.

Key Figures

Shares acquired: 860 shares Total Class C shares after transaction: 52,999 shares Dividend equivalent rights included in holdings: 4,239 rights +1 more

4 metrics

Shares acquired 860 shares Dividend equivalent rights accrued on RSUs and RPSUs on September 1, 2026

Total Class C shares after transaction 52,999 shares Direct holdings of Sarah Rubenstein following the reported acquisition

Dividend equivalent rights included in holdings 4,239 rights Dividend equivalent rights that may only be settled in Class C Common Stock

Transaction date September 1, 2026 Date of grant/award acquisition of dividend equivalent rights

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"

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

"accrued on the Reporting Person's Restricted Stock Units ("RSUs") and Relative"

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

"Reporting Person's Restricted Stock Units ("RSUs") and Relative Performance Stock Units ("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 CWEN report for EVP and CFO Sarah Rubenstein?

Clearway Energy reported that Sarah Rubenstein acquired 860 shares of Class C Common Stock on September 1, 2026 via a grant classified as a dividend-equivalent award tied to her existing RSUs and RPSUs.

How many CWEN Class C shares does Sarah Rubenstein hold after this transaction?

After the September 1, 2026 transaction, Sarah Rubenstein directly holds 52,999 shares of Clearway Energy Class C Common Stock, which includes dividend equivalent rights that may be settled only in Class C Common Stock.

What are the 860 CWEN shares reported in Sarah Rubenstein’s Form 4?

The 860 shares represent dividend equivalent rights accrued on Sarah Rubenstein’s RSUs and RPSUs, which become exercisable proportionately with those units and may only be settled in Clearway Energy Class C Common Stock.

How many dividend equivalent rights tied to CWEN stock does Sarah Rubenstein now have?

Her holdings now include 4,239 dividend equivalent rights that may only be settled in Clearway Energy Class C Common Stock, in addition to other directly held Class C shares.

Was Sarah Rubenstein’s CWEN Form 4 transaction made under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not affirmed, and the footnotes describe the transaction as dividend equivalent rights on RSUs and RPSUs, with no indication that it was executed under a Rule 10b5-1 plan.

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

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Available on EDGAR 09/03/2026 - 04:51 PM EDT Accepted by SEC EDGAR 09/03/2026 - 04:32 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

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^*

Rubenstein Sarah

(Last) (First) (Middle)

CLEARWAY ENERGY, INC.

902 CARNEGIE CENTER, SUITE 520

(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 AND CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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	09/01/2026		A		860	A	(1)	52,999(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 4,239 dividend equivalent rights that may only be settled in Class C Common Stock.

	/s/ Michael A. Brown, Attorney-in-Fact	09/03/2026
	** 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)