HASI (HASI) director Eckel awarded 8,698 LTIP Units in new equity grant
Rhea-AI Filing Summary
HA Sustainable Infrastructure Capital, Inc. director Jeffrey Eckel reported a compensation-related grant of 8,698 LTIP Units on common stock, at an exercise price of $0.00 per unit. Following this award, he holds 13,864 LTIP Units directly, which are tied to an equal number of partnership OP Units upon vesting and conversion.
In addition, footnotes state that a further 705,558 LTIP Units, held indirectly through HASI Management HoldCo LLC, are linked to 705,558 OP Units, with Eckel voluntarily reporting only his proportionate pecuniary interest. The filing also lists indirect common stock holdings through a revocable trust, spouse, and grandson, as well as 19,162 common shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Eckel Jeffrey
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 8,698 | $0.00 | $0.00 |
| holding | LTIP Units | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
| holding | Common stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
LTIP Units — 13,864 shares (Direct);
LTIP Units — 705,558 shares (Indirect, By HASI Management HoldCo LLC);
Common stock, par value $0.01 per share — 19,162 shares (Direct);
Common stock, par value $0.01 per share — 330,171 shares (Indirect, By Jeffrey W. Eckel Revocable Trust);
Common stock, par value $0.01 per share — 9,050 shares (Indirect, By spouse);
Common stock, par value $0.01 per share — 2,887 shares (Indirect, By grandson)
Footnotes (9)
- F1. These shares are held by the Jeffrey W. Eckel Revocable Trust, of which Jeffrey W. Eckel is the sole trustee and beneficiary.
- F2. These shares are held by the reporting person's spouse. The reporting person disclaims ownership other than to the extent of their pecuniary interest.
- F3. The reporting person acts as custodian for their 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.
- F4. 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.
- F5. 13,864 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 13,864 long-term incentive plan units ("LTIP Units") in the Partnership.
- F6. N/A
- F7. 705,558 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 705,558 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.
- F8. Previously included in this total were 43,903 LTIP Units which did not vest, as certain performance targets for the performance period ended December 31, 2025 were not met, and 5,166 LTIP Units which are now held directly by the Reporting Person.
- F9. 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.
Key Figures
New LTIP grant: 8,698 LTIP Units at $0.00
Direct LTIP Units after grant: 13,864 LTIP Units
Indirect LTIP Units via HoldCo LLC: 705,558 LTIP Units
+4 more
7 metrics
New LTIP grant
8,698 LTIP Units at $0.00
Grant, award, or other acquisition on common stock
Direct LTIP Units after grant
13,864 LTIP Units
Units convertible into 13,864 OP Units upon vesting
Indirect LTIP Units via HoldCo LLC
705,558 LTIP Units
Linked to 705,558 OP Units; proportionate pecuniary interest
Direct common shares
19,162 shares
Common stock, par value $0.01 per share, held directly
Trust common shares
330,171 shares
Held by Jeffrey W. Eckel Revocable Trust
Spouse common shares
9,050 shares
Indirect holding by spouse; pecuniary interest only
Grandson common shares
2,887 shares
Custodial account under Uniform Gifts to Minors Act
Key Terms
LTIP Units, OP Units, Revocable Trust, Uniform Gifts to Minors Act, +2 more
6 terms
LTIP Units financial
"705,558 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 705,558 long-term incentive plan units ("LTIP Units")"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
OP Units financial
"13,864 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 13,864 long-term incentive plan units"
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
Revocable Trust financial
"These shares are held by the Jeffrey W. Eckel Revocable Trust, of which Jeffrey W. Eckel is the sole trustee and beneficiary."
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
Uniform Gifts to Minors Act financial
"The reporting person acts as custodian for their grandson under the Uniform Gifts to Minors Act."
Equity Incentive Plan financial
"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."
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership other than to the extent of his pecuniary interest."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did HASI director Jeffrey Eckel report on this Form 4?
Jeffrey Eckel reported a compensation-related grant of 8,698 LTIP Units with a $0.00 exercise price. These long-term incentive units can convert into OP Units, which are in turn linked to HA Sustainable Infrastructure Capital common stock upon vesting and other conditions.
How many LTIP Units does Jeffrey Eckel hold after the latest HASI award?
After the reported grant, Eckel directly holds 13,864 LTIP Units. Footnotes explain that these units are convertible into 13,864 OP Units, which can ultimately be exchanged for cash or HA Sustainable Infrastructure Capital common stock, subject to partnership agreement conditions.
What indirect LTIP Unit interests linked to HASI stock does Eckel report?
The filing notes 705,558 LTIP Units held by HASI Management HoldCo LLC, tied to 705,558 OP Units. Eckel is a member of HoldCo LLC and reports only his proportionate pecuniary interest, disclaiming beneficial ownership beyond that economic stake as described in the footnotes.
What direct common stock holdings does Jeffrey Eckel report in HASI?
Eckel reports 19,162 shares of HA Sustainable Infrastructure Capital common stock held directly. The Form 4 also lists separate indirect holdings through a revocable trust, his spouse, and as custodian for his grandson, each with distinct beneficial ownership disclosures in the footnotes.
What do the HASI Form 4 footnotes say about conversion of LTIP Units?
Footnotes explain that vested LTIP Units, after reaching parity with OP Units, can convert into OP Units on a one-for-one basis. The reporting person may then redeem OP Units for cash equal to common stock market value or for common shares, at the issuer’s option and subject to adjustments.