RUN Insider Sale: Director Disposes 10,927 Shares; Holds 54,947 Including 17,357 RSUs

Rhea-AI Filing Summary

Alan Ferber, a director of Sunrun Inc. (RUN), reported a sale of 10,927 shares of Sunrun common stock on 08/13/2025 at a weighted average price of $11.2401 per share (sale price range $11.2401–$11.245). After the sale he beneficially owned 54,947 shares, which include 17,357 restricted stock units that remain subject to forfeiture until they vest. Additionally, 10,000 shares are held indirectly by a family trust for which he and his spouse serve as co-trustees. The filing notes the shares sold were part of the reporting person’s tax and estate planning.

Positive

• Transaction fully disclosed on Form 4, showing compliance with Section 16 reporting requirements
• Remaining beneficial ownership includes 17,357 RSUs which are subject to forfeiture until vesting, indicating retained stake

Negative

• Director sold 10,927 shares, reducing direct beneficial ownership
• Sale reduced liquid direct holdings to 54,947 shares (includes unvested RSUs), reflecting decreased immediate share ownership

Insights

Securities Analyst

TL;DR: Routine director sale disclosed; modest reduction in direct holdings with unvested RSUs remaining.

This Form 4 shows a small, clearly disclosed sale by a company director: 10,927 shares sold at an average of $11.2401. The director still retains 54,947 shares including 17,357 RSUs that are unvested, which limits immediate economic flexibility of that portion of holdings. The sale is described as for tax and estate planning, and 10,000 shares remain held indirectly in a family trust. Overall, the transaction appears routine and properly reported, with limited immediate balance-sheet or governance implications based solely on the filing.

Corporate Governance Expert

TL;DR: Proper disclosure of related-party trust holdings and RSU treatment; no evidence of unusual trading.

The filing discloses both direct and indirect ownership, including co-trustee status for a family trust and the presence of 17,357 restricted stock units subject to forfeiture until vesting. The explanation that shares were sold for tax and estate planning is explicitly stated. From a governance perspective, the record is complete and transparent in identifying ownership forms and the nature of indirect holdings.

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
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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^*

FERBER ALAN

(Last) (First) (Middle)

C/O SUNRUN INC.

600 CALIFORNIA STREET, SUITE 1800

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sunrun Inc. [ RUN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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	08/13/2025		S(1)		10,927	D	$11.2401(2)	54,947(3)	D
Common Stock								10,000	I	See Footnote(4)

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. Shares were sold as part of the reporting person's tax and estate planning.

2. Price represents the weighted average sale price of the shares sold. The sale price ranged from $11.2401 to $11.245 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

3. Shares held following the reported transaction include 17,357 restricted stock units, which are subject to forfeiture until they vest.

4. The shares are held of record by the Reporting Person and the Reporting Person's spouse as co-trustees of a family trust.

Remarks:

	/s/ Sundance Banks, Attorney-in-Fact	08/15/2025
	** 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 did Alan Ferber (RUN) report on Form 4?

He reported a sale of 10,927 shares on 08/13/2025 at a weighted average price of $11.2401 per share and disclosed post-transaction beneficial ownership of 54,947 shares.

Why were the shares sold according to the filing?

The filing states the shares were sold as part of the reporting person’s tax and estate planning.

Does the filing disclose any unvested equity?

Yes. The 54,947 shares held after the transaction include 17,357 restricted stock units which remain subject to forfeiture until they vest.

Are there any indirect holdings reported for Alan Ferber?

Yes. The filing shows 10,000 shares held of record by a family trust for which the reporting person and spouse are co-trustees.

When was the Form 4 signed and filed?

The signature on the Form 4 is dated 08/15/2025 (signed by attorney-in-fact Sundance Banks).