HASI (HASI) director-linked trusts and spouse report open-market stock sales
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
HA Sustainable Infrastructure Capital director-related entities reported stock sales. On February 17, 2026, the Jeffrey W. Eckel Revocable Trust completed open-market sales of 124,998 shares of common stock at a weighted average price of $39.22, leaving 330,171 shares held by the trust. Shares held by the reporting person’s spouse were also sold in open-market transactions, with 9,400 shares sold at a weighted average price of $39.34, leaving 9,050 shares held by the spouse.
The reporting person also reports direct ownership of 19,162 shares and indirect holdings of 2,887 shares as custodian for a grandson, while disclaiming beneficial ownership of the grandson’s shares. In addition, the reporting person has an indirect pecuniary interest in 754,627 LTIP Units held through HASI Management HoldCo LLC, which are ultimately tied to potential OP Units and common stock under the company’s equity incentive plans.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 134,398 shares ($5,272,218)
Net Sell
5 txns
Insider
Eckel Jeffrey
Role
Director
Sold
134,398 shs ($5.27M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common stock, par value $0.01 per share | 124,998 | $39.22 | $4.90M |
| Sale | Common stock, par value $0.01 per share | 9,400 | $39.34 | $370K |
| holding | LTIP Units | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common stock, par value $0.01 per share — 330,171 shares (Indirect, By Jeffrey W. Eckel Revocable Trust);
LTIP Units — 754,627 shares (Indirect, By HASI Management HoldCo LLC);
Common stock, par value $0.01 per share — 19,162 shares (Direct)
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.80 to $39.80, inclusive, on February 17, 2026. The reporting person undertakes to provide HA Sustainable Infrastructure Capital, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. These shares are held by the Jeffrey W. Eckel Revocable Trust, of which Jeffrey W. Eckel is the sole trustee and beneficiary. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.26 to $39.46, inclusive, on February 17, 2026. The reporting person undertakes to provide HA Sustainable Infrastructure Capital, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. These shares are held by the reporting person's spouse. The reporting person disclaims ownership other than to the extent of his pecuniary interest. The reporting person acts as custodian for his grandson under the Uniform Gifts to Minors Act. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. 754,627 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 754,627 long-term incentive plan units ("LTIP Units") in the Partnership. The LTIP Units were granted to the Reporting Person under the Issuer's 2013 Equity Incentive Plan, as amended, and the Issuer's 2022 Equity Incentive Plan. 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. N/A 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.
FAQ
What additional HASI common stock holdings does Jeffrey Eckel report after these transactions?
After the reported sales, the reporting person lists 19,162 shares of HA Sustainable Infrastructure Capital common stock held directly. He also reports 2,887 shares held as custodian for his grandson, while expressly disclaiming beneficial ownership of those custodial shares for Section 16 and other purposes.
What are the 754,627 LTIP Units reported in the HASI Form 4 filing?
The filing reports 754,627 LTIP Units held indirectly through HASI Management HoldCo LLC, representing the reporting person’s pecuniary interest. These units can vest and convert into OP Units on a one-for-one basis, which may then be redeemable for cash or HA Sustainable Infrastructure Capital common stock.
How can the reported LTIP Units in HASI potentially convert into common stock?
Once vested LTIP Units achieve parity with OP Units under the partnership agreement, they may convert to OP Units on a one-for-one basis. The holder can then request redemption for cash equal to common stock market value or, at the issuer’s option, an equivalent number of HASI common shares.