LLC tied to HA Sustainable (NYSE: HASI) exec awarded 20,645 LTIP units

Rhea-AI Filing Summary

HA Sustainable Infrastructure Capital executive Viral Amin, EVP and Chief Risk Officer, indirectly acquired 20,645 LTIP Units through HASI Management HoldCo LLC at a grant price of $0 under the 2022 Equity Incentive Plan. In total, 56,843 LTIP Units are outstanding, which may vest into an equal number of OP Units and can ultimately be exchanged for cash or common stock. Amin also directly holds 4,757 shares of common stock after these transactions.

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^*

Viral Amin A

(Last) (First) (Middle)

ONE PARK PLACE

SUITE 200

(Street)

ANNAPOLIS MD 21401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HA Sustainable Infrastructure Capital, Inc. [ HASI ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Risk Officer

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
Common stock, par value $0.01 per share								4,757	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
LTIP Units	(1)(2)	03/02/2026		A		20,645		(1)(2)	(3)	Common stock, par value $0.01 per share	20,645	$0	56,843	I	By HASI Management HoldCo, LLC(4)

Explanation of Responses:

1. 56,843 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 56,843 long-term incentive plan units ("LTIP Units") in the Partnership. The LTIP Units were granted to the Reporting Person under the Issuer's 2022 Equity Incentive Plan, as amended.

2. Vested LTIP Units, after achieving parity with OP Units (as described in the Partnership's Amended and Restated Agreement of Limited Partnership (the "Partnership Agreement")), are eligible to be converted into OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership Agreement. Upon conversion of LTIP Units into OP Units, the Reporting Person will have the right to cause the Partnership to redeem a portion of the Reporting Person's OP Units for cash in an amount equal to the market value (as defined in the Partnership Agreement) of an equivalent number of shares of common stock, par value $0.01 per share, of HA Sustainable Infrastructure Capital, Inc. (the "Issuer"), or at the Issuer's option, shares of the Issuer's common stock on a one-for-one basis, subject to certain adjustments.

3. N/A

4. These LTIP Units are held by HASI Management HoldCo LLC ("HoldCo LLC"). The Reporting Person is a member of HoldCo LLC. The LTIP Units reported represent only the number of LTIP Units in which the Reporting Person has a pecuniary interest in accordance with his proportionate interest in HoldCo LLC. The Reporting Person is voluntarily reporting his proportionate interest in HoldCo LLC's ownership of LTIP Units. The Reporting Person disclaims beneficial ownership other than to the extent of his pecuniary interest.

Remarks:

	/s/ Viral A. Amin	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 insider transaction did HASI executive Viral Amin report on this Form 4?

Viral Amin reported an indirect acquisition of 20,645 LTIP Units tied to HA Sustainable Infrastructure Capital. These long-term incentive plan units were granted at $0 and are held through HASI Management HoldCo LLC, reflecting his proportionate pecuniary interest in that entity’s LTIP Unit holdings.

How many LTIP Units linked to HASI does Viral Amin now report owning?

The filing shows 56,843 LTIP Units in total are issuable upon vesting and conversion. These units in the partnership can vest over time and convert into an equal number of OP Units, forming the basis for potential future exchanges into HA Sustainable Infrastructure Capital common stock or cash.

How can HASI LTIP Units reported by Viral Amin convert into common stock?

Once vested LTIP Units reach parity with OP Units, they may convert into OP Units on a one-for-one basis. Amin can then ask the partnership to redeem OP Units for cash equal to the market value of HASI common stock, or receive common shares on a one-for-one basis instead.

How are Viral Amin’s HASI LTIP Units held according to the filing footnotes?

The LTIP Units are held by HASI Management HoldCo LLC, an entity in which Amin is a member. The reported amount reflects only the LTIP Units representing his pecuniary interest. He disclaims beneficial ownership of any additional interests beyond this proportionate economic stake in the LLC’s holdings.

What direct common stock holdings in HASI does Viral Amin report after this filing?

After the reported transactions, Viral Amin lists 4,757 shares of HA Sustainable Infrastructure Capital common stock as directly owned. This common stock position is separate from his indirect interest in LTIP Units held through HASI Management HoldCo LLC, which represents a different form of equity-linked compensation.

Under which plan were the HASI LTIP Units granted to Viral Amin?

The LTIP Units were granted under HA Sustainable Infrastructure Capital’s 2022 Equity Incentive Plan, as amended. This plan provides long-term incentive awards such as LTIP Units, which can vest, achieve parity with OP Units, and potentially convert into OP Units and ultimately common stock or cash.