RUN Form 4: Chief Legal & People Officer Disposes 7,077 Shares via 10b5-1

Rhea-AI Filing Summary

Jeanna Steele, Chief Legal & People Officer at Sunrun Inc. (RUN), sold 7,077 shares of common stock on 08/26/2025 at $16.75 per share under a previously adopted Rule 10b5-1 trading plan. After the reported sale, Ms. Steele beneficially owns 415,126 shares in total, which include 258,855 restricted stock units that remain subject to forfeiture until they vest. The Form 4 indicates the transaction was executed pursuant to a written trading plan adopted May 16, 2025, signaling the sale was preplanned rather than an ad hoc disposition.

Positive

• Transaction conducted under a Rule 10b5-1 trading plan, which provides a preplanned, documented rationale for the sale
• Reporting person retains substantial beneficial ownership of 415,126 shares following the sale

Negative

• Officer disposed of 7,077 shares, reducing direct holdings
• 258,855 shares are restricted stock units that are subject to forfeiture until they vest, limiting immediate economic ownership

Insights

Corporate Governance Expert

TL;DR: Officer sale appears preplanned under a 10b5-1 plan; holdings still substantial though many are unvested RSUs.

The sale of 7,077 shares by the Chief Legal & People Officer was effected under a Rule 10b5-1 plan adopted May 16, 2025, which typically provides an affirmative defense to insider trading allegations by documenting preclearance of timing and quantity. The reporting shows continued significant beneficial ownership (415,126 shares) but discloses that 258,855 of those are restricted stock units subject to forfeiture until vesting, which affects the officer's fully realizable stake. This filing is a routine insider disposition rather than an operational disclosure.

Securities Analyst

TL;DR: Transaction is informationally neutral for investors; small open-market sale under a trading plan.

The reported disposition (7,077 shares at $16.75) represents a modest reduction relative to total beneficial holdings and was conducted pursuant to a documented 10b5-1 plan, reducing informational ambiguity about motivation. The disclosure that 258,855 shares are restricted stock units subject to forfeiture is material to understanding the officer's effective, vested stake. No derivative transactions or other changes to ownership structure are reported.

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).

X

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^*

STEELE JEANNA

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal & People Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

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	08/26/2025		S(1)		7,077	D	$16.75	415,126(2)	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. The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted May 16, 2025.

2. Shares held following the reported transaction include 258,855 restricted stock units, which are subject to forfeiture until they vest.

Remarks:

	/s/ Sundance Banks, Attorney-in-Fact	08/28/2025
	** 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 Sunrun (RUN) insider Jeanna Steele report?

She sold 7,077 shares of Sunrun common stock at $16.75 per share under a Rule 10b5-1 plan.

Was the sale by RUN insider part of a preplanned program?

Yes. The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted May 16, 2025.

How many Sunrun shares does the reporting person beneficially own after the sale?

415,126 shares beneficially owned following the reported transaction.

How many of the reporting person's shares are restricted or subject to forfeiture?

258,855 restricted stock units are included in the total and remain subject to forfeiture until they vest.

Did the Form 4 report any derivative transactions by the RUN insider?

No. Table II shows no derivative securities acquired, disposed of, or beneficially owned in this filing.