CWEN Director Reports Acquisition of Class A and Class C Dividend Rights

Rhea-AI Filing Summary

Clearway Energy Form 4 summary: Director Brian R. Ford acquired dividend equivalent rights on 09/02/2025 tied to his Deferred Stock Units. He received 138 Class A-equivalent rights, bringing his Class A beneficial ownership to 8,554 shares (including 4,007 rights that can only settle in Class A). He also received 1,331 Class C-equivalent rights, bringing his Class C beneficial ownership to 86,947 shares (including 24,155 rights that can only settle in Class C). The form was executed by an attorney-in-fact on 09/04/2025.

Positive

• Acquisitions disclosed: The Form 4 records clear acquisitions of dividend equivalent rights on 09/02/2025.
• Class-by-class disclosure: The filing specifies resulting beneficial ownership for both Class A (8,554) and Class C (86,947) shares.
• Clear explanatory notes: Footnotes identify portions of holdings that can only settle in Class A (4,007) or Class C (24,155).
• Proper execution: Form is signed/dated by attorney-in-fact, indicating formal submission.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider received dividend-equivalent rights that increase reported beneficial holdings in both Class A and Class C shares.

The filing documents non-derivative acquisitions by Director Brian R. Ford on 09/02/2025: 138 units recorded as Class A-equivalents and 1,331 recorded as Class C-equivalents, resulting in reported beneficial ownership of 8,554 Class A and 86,947 Class C shares respectively. The disclosures specify portions of those totals are dividend equivalent rights restricted to settlement in the indicated share class (4,007 for Class A; 24,155 for Class C). This is a routine compensation-related equity accrual rather than a cash transaction and does not report sales or option exercises in this filing.

Corporate Governance Expert

TL;DR: The Form 4 reflects routine equity compensation administration and proper Section 16 reporting by an insider.

The report indicates the acquisitions are dividend equivalent rights tied to Deferred Stock Units, which become exercisable with those units and settle in Class A or Class C shares as specified. The filing identifies Brian R. Ford as a director and discloses the class-by-class holdings post-transaction. The signature by an attorney-in-fact is properly noted. From a governance perspective, the form provides the core required disclosures: reporting person, relationship to issuer, transaction date, amounts, and explanatory footnotes specifying settlement constraints.

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^*

Ford Brian R.

(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 A Common Stock, par value $.01 per share	09/02/2025		A		138	A	(1)	8,554(2)	D
Class C Common Stock, par value $.01 per share	09/02/2025		A		1,331	A	(1)	86,947(3)	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 A or Class C Common Stock of Clearway Energy, Inc. as determined by the Deferred Stock Units to which they relate.

2. Includes 4,007 dividend equivalent rights that may only be settled in Class A Common Stock.

3. Includes 24,155 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.

FAQ

What transactions did Brian R. Ford report on the CWEN Form 4?

The Form 4 reports acquisitions on 09/02/2025 of 138 Class A-equivalent dividend rights and 1,331 Class C-equivalent dividend rights tied to Deferred Stock Units.

How many CWEN shares does Brian R. Ford beneficially own after the reported transactions?

Following the reported transactions, he beneficially owns 8,554 Class A shares and 86,947 Class C shares as disclosed on the form.

What portion of the reported holdings are restricted to settlement in a specific class of CWEN stock?

The filing states 4,007 dividend equivalent rights may only be settled in Class A Common Stock and 24,155 may only be settled in Class C Common Stock.

When were the transactions and when was the Form 4 executed?

Transactions occurred on 09/02/2025 and the filing was signed by an attorney-in-fact on 09/04/2025.

What is the nature of the securities acquired according to the Form 4?

The securities are dividend equivalent rights accrued on Deferred Stock Units that become exercisable with those units and are settled in Class A or Class C shares as specified.