Sunrun (RUN) CEO Reports RSU Tax-Related Sale of 1,809 Shares

Rhea-AI Filing Summary

Mary Powell, Chief Executive Officer and Director of Sunrun Inc. (RUN), reported a sale of 1,809 shares of the issuer's common stock on 09/02/2025. The sale was executed to cover tax obligations from the settlement of vested restricted stock units and the weighted average sale price was $15.7552 (range: $15.71–$15.815 per share). After the sale, Ms. Powell beneficially owns 891,431 shares, which include 627,433 restricted stock units that remain subject to forfeiture until they vest.

The Form 4 was signed by the reporting attorney-in-fact on 09/03/2025 and indicates the filing was made by one reporting person. No derivative transactions were reported on this form.

Positive

• Clear disclosure of the reason for the sale: shares sold to cover tax obligations from vested RSUs
• Timely filing executed and signed (reported transaction 09/02/2025; signature dated 09/03/2025)
• Detailed price information provided including weighted average sale price and the range ($15.71–$15.815)

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine small sale by CEO to cover taxes; ownership remains substantial with large unvested RSU balance.

Ms. Powell disposed of 1,809 shares via a sale labeled S(1), described as shares sold to cover tax obligations from vested restricted stock units. The weighted average sale price reported was $15.7552 within a narrow price range. Post-transaction beneficial ownership is 891,431 shares, of which 627,433 are unvested RSUs subject to forfeiture. The transaction and filing appear procedural and consistent with compensation-related tax withholding rather than a strategic divestiture.

Corporate Governance Expert

TL;DR: Disclosure is clear and timely; transaction aligns with standard executive compensation settlement practices.

The Form 4 discloses the nature of the sale (tax-covering of vested RSUs) and provides the weighted average sale price plus the post-transaction share count including unvested RSUs. The filing was executed by an attorney-in-fact, which is common for such administrative filings. There are no reported amendments or derivative activities on this Form 4.

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

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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^*

Powell Mary

(Last) (First) (Middle)

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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S(1)		1,809	D	$15.7552(2)	891,431(3)	D

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 sold to cover tax obligation from settlement of vested restricted stock units.

2. Price represents the weighted average sale price of the shares sold. The sale price ranged from $15.71 to $15.815 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 627,433 restricted stock units, which are subject to forfeiture until they vest.

Remarks:

	/s/ Sundance Banks, Attorney-in-Fact	09/03/2025
	** 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 shares did Mary Powell sell as reported on the Form 4 for RUN?

She sold 1,809 common shares on 09/02/2025 to cover tax obligations from vested restricted stock units.

At what price were the RUN shares sold by Mary Powell?

The weighted average sale price was $15.7552; the sale price range was $15.71 to $15.815 per share.

How many RUN shares does Mary Powell beneficially own after the transaction?

Following the reported sale, she beneficially owns 891,431 shares, which include 627,433 restricted stock units subject to forfeiture until vesting.

Was the Form 4 filed jointly or by a single reporting person?

The Form 4 was filed by one reporting person (Mary Powell).

Were there any derivative transactions reported by Mary Powell on this Form 4?

No derivative securities transactions were reported on this Form 4.