[Form 4] HAWAIIAN ELECTRIC INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

Ajello James A reported acquisition or exercise transactions in this Form 4 filing.

HAWAIIAN ELECTRIC INDUSTRIES INC director James A. Ajello received a stock grant of 9,238 shares of Common Stock as compensation. The shares were awarded on June 30, 2026 at a stated price of $0.00 per share, bringing his directly held Common Stock to 9,238 shares. The grant was made pursuant to the HEI 2011 Nonemployee Director Stock Plan. In addition to these directly owned shares, Ajello is shown with indirect ownership of 35,749 shares held by the Mary Susan Ajello 2020 Family Trusts and 16,495 shares held by the Ajello 2020 Management Trust, as of the same date.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Ajello James A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	9,238	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 9,238 shares (Direct, null); Common Stock — 16,495 shares (Indirect, By the Ajello 2020 Management Trust)

Footnotes (1)

1. [object Object]

Key Figures

Director stock grant: 9,238 shares Direct holdings after grant: 9,238 shares Indirect holdings – Family Trusts: 35,749 shares +1 more

4 metrics

Director stock grant 9,238 shares Common Stock grant to James A. Ajello on June 30, 2026

Direct holdings after grant 9,238 shares Ajello direct Common Stock ownership following grant

Indirect holdings – Family Trusts 35,749 shares Common Stock held by the Mary Susan Ajello 2020 Family Trusts as of June 30, 2026

Indirect holdings – Management Trust 16,495 shares Common Stock held by the Ajello 2020 Management Trust as of June 30, 2026

Key Terms

Nonemployee Director Stock Plan, indirect ownership, Common Stock

3 terms

Nonemployee Director Stock Plan financial

"Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan."

indirect ownership financial

"direct_or_indirect: "I" and nature_of_ownership: "By the Mary Susan Ajello 2020 Family Trusts""

Common Stock financial

"security_title: "Common Stock" for all reported holdings and grant entries"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 09:06 PM Accepted by SEC EDGAR 07/02/2026 - 09:06 PM 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^*

Ajello James A

(Last) (First) (Middle)

C/O P.O. BOX 730

(Street)

HONOLULU HAWAII 96808-0730

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HAWAIIAN ELECTRIC INDUSTRIES INC [ HE ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

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
Common Stock	06/30/2026		A		9,238(1)	A	$0	9,238	D
Common Stock								16,495	I	By the Ajello 2020 Management Trust
Common Stock								35,749	I	By the Mary Susan Ajello 2020 Family Trusts

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. Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

	Sean K. Clark, Attorney-in-Fact for James A. Ajello	07/02/2026
	** 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)