How is the Fowler Family Trust related to Hawaiian Electric (HE) share ownership?

The filing shows 63,888 Hawaiian Electric Common Stock shares held indirectly "By the Fowler Family Trust." This means a significant portion of her reported holdings is owned through the trust rather than in her direct name.

Hawaiian Electric director receives 9,238-share stock grant

Q: How many Hawaiian Electric (HE) shares did Peggy Y. Fowler receive in the latest grant?

She received an award of 9,238 Common Stock shares. The grant price is shown as $0.0000 per share because it is a compensation grant, not a market trade, under the HEI 2011 Nonemployee Director Stock Plan for nonemployee directors.

Q: What are Peggy Y. Fowler’s total reported Hawaiian Electric (HE) holdings after this Form 4?

After the reported transactions, she holds 9,238 shares directly and 63,888 shares indirectly through the Fowler Family Trust. These figures show her equity stake as both a direct shareholder and a beneficiary of trust-held shares.

Q: Was the Hawaiian Electric (HE) Form 4 for Peggy Y. Fowler an open-market buy or sell?

No, the Form 4 reports a grant or award acquisition of 9,238 shares, not an open-market purchase or sale. The transaction code “A” and zero price per share indicate it is stock-based compensation under the nonemployee director stock plan.

Q: What plan governs Peggy Y. Fowler’s stock grant from Hawaiian Electric (HE)?

The footnote states the stock grant was made under the HEI 2011 Nonemployee Director Stock Plan. This plan provides equity awards to nonemployee directors as part of their compensation, aligning their interests with other shareholders.

FOWLER PEGGY Y reported acquisition or exercise transactions in this Form 4 filing.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

FOWLER PEGGY Y reported acquisition or exercise transactions in this Form 4 filing.

Hawaiian Electric Industries director Peggy Y. Fowler reported a new stock grant and her current holdings. On June 30, 2026, she received an award of 9,238 shares of Common Stock at no cost as a compensation grant under the HEI 2011 Nonemployee Director Stock Plan.

After this grant, the filing shows she holds 9,238 shares directly and 63,888 shares indirectly through the Fowler Family Trust. The transactions reflect equity compensation and reported ownership rather than open-market buying or selling.

Insider Trade Summary

Grant/Award: 9,238 shares

Grant/Award 2 txns

Insider FOWLER PEGGY Y

Role Director

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

Holdings After Transaction: Common Stock — 9,238 shares (Direct); Common Stock — 63,888 shares (Indirect, By the Fowler Family Trust)

Footnotes (1)

F1. Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

Key Figures

Director stock grant: 9,238 shares Grant price: $0.0000 per share Direct holdings after grant: 9,238 shares +1 more

4 metrics

Director stock grant 9,238 shares Common Stock grant on June 30, 2026

Grant price $0.0000 per share Compensation grant, not open-market trade

Direct holdings after grant 9,238 shares Common Stock held directly by Peggy Y. Fowler

Indirect trust holdings 63,888 shares Common Stock held by the Fowler Family Trust

Key Terms

Grant, award, or other acquisition, HEI 2011 Nonemployee Director Stock Plan, Common Stock, Fowler Family Trust

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

HEI 2011 Nonemployee Director Stock Plan financial

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

Common Stock financial

"security_title: "Common Stock""

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.

Fowler Family Trust financial

"nature_of_ownership: "By the Fowler Family Trust""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Hawaiian Electric (HE) report for Peggy Y. Fowler?

Peggy Y. Fowler reported receiving a stock grant of 9,238 shares of Hawaiian Electric Common Stock. The award was made as director compensation, not an open-market purchase or sale, and reflects an equity-based component of her nonemployee director pay.

How many Hawaiian Electric (HE) shares did Peggy Y. Fowler receive in the latest grant?

She received an award of 9,238 Common Stock shares. The grant price is shown as $0.0000 per share because it is a compensation grant, not a market trade, under the HEI 2011 Nonemployee Director Stock Plan for nonemployee directors.

What are Peggy Y. Fowler’s total reported Hawaiian Electric (HE) holdings after this Form 4?

After the reported transactions, she holds 9,238 shares directly and 63,888 shares indirectly through the Fowler Family Trust. These figures show her equity stake as both a direct shareholder and a beneficiary of trust-held shares.

Was the Hawaiian Electric (HE) Form 4 for Peggy Y. Fowler an open-market buy or sell?

No, the Form 4 reports a grant or award acquisition of 9,238 shares, not an open-market purchase or sale. The transaction code “A” and zero price per share indicate it is stock-based compensation under the nonemployee director stock plan.

What plan governs Peggy Y. Fowler’s stock grant from Hawaiian Electric (HE)?

The footnote states the stock grant was made under the HEI 2011 Nonemployee Director Stock Plan. This plan provides equity awards to nonemployee directors as part of their compensation, aligning their interests with other shareholders.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 08:49 PM

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^*

FOWLER PEGGY Y

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/30/2026		A		9,238⁽¹⁾	A	$0	9,238	D
Common Stock								63,888	I	By the Fowler Family Trust

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

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

Remarks:

Exhibit List Exhibit 24 - Power of Attorney

	Sean K. Clark, Attorney-in-Fact for Peggy Y. Fowler	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)

Source: View Original Filing on SEC EDGAR