Sunrun (RUN) director exercises 250,600 options and sells shares under 10b5-1 plan

Rhea-AI Filing Summary

Sunrun director Edward Harris Fenster reported several share transactions on February 11, 2026 under a pre-arranged Rule 10b5-1 trading plan adopted on September 3, 2025. He exercised an employee stock option for 250,600 shares of common stock at an exercise price of $5.08 per share.

On the same day, he sold 134,813 shares at a weighted average price of $19.7889 and 29,031 shares at a weighted average price of $20.7165, with the filing stating these sales were made solely to cover the option exercise price and related tax obligations. He also made a bona fide gift transfer of 25,000 shares.

After these transactions, Fenster directly owned 1,553,895 shares of Sunrun common stock, including 3,184 restricted stock units that remain subject to forfeiture until they vest. The option exercised was fully vested, with a 10-year term and an expiration date of February 11, 2026.

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).

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^*

Fenster Edward Harris

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2026

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	02/11/2026		M(1)		250,600	A	$5.08	1,742,739	D
Common Stock	02/11/2026		S(1)(2)		134,813	D	$19.7889(3)	1,607,926	D
Common Stock	02/11/2026		S(1)(2)		29,031	D	$20.7165(4)	1,578,895	D
Common Stock	02/11/2026		G(1)		25,000	D	$0	1,553,895(5)	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
Employee Stock Option (right to buy)	$5.08	02/11/2026		M(1)			250,600	(6)	02/11/2026	Common Stock	250,600	$0	0	D

Explanation of Responses:

1. The transactions reported by the Reporting Person were effected pursuant to a Rule 10b5-1 trading plan adopted on September 3, 2025.

2. Shares sold only to cover exercise price and tax obligation upon the exercise of a stock option.

3. Price represents the weighted average sale price of the shares sold. The sale price ranged from $19.30 to $20.29 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.

4. Price represents the weighted average sale price of the shares sold. The sale price ranged from $20.30 to $21.12 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.

5. Shares held following the reported transactions include 3,184 restricted stock units, which are subject to forfeiture until they vest.

6. The shares subject to the option are fully vested and exercisable. The option had a 10-year exercise period with an expiration date of February 11, 2026.

Remarks:

	/s/ Jeanna Steele, Attorney-in-Fact	02/12/2026
	** 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.

FAQ

What insider transactions did Sunrun (RUN) director Edward Harris Fenster report?

Edward Harris Fenster reported exercising an option for 250,600 Sunrun shares, selling 163,844 shares in two transactions, and gifting 25,000 shares. The filing shows these activities occurred on February 11, 2026, as part of a structured trading and estate-planning sequence.

How many Sunrun (RUN) shares did Fenster sell, and at what prices?

Fenster sold 134,813 Sunrun shares at a weighted average price of $19.7889 and 29,031 shares at $20.7165. The filing notes these sales occurred on February 11, 2026, with price ranges disclosed and full trade breakdowns available on request.

Were Sunrun (RUN) director Fenster’s stock sales part of a 10b5-1 plan?

Yes. The filing states all reported transactions were executed under a Rule 10b5-1 trading plan adopted on September 3, 2025. Such plans allow predetermined trades, helping insiders systematically diversify holdings while managing potential concerns around trading on material nonpublic information.

Why did Sunrun (RUN) director Edward Harris Fenster sell shares after exercising options?

The filing explains that shares were sold solely to cover the option exercise price and associated tax obligations. This means the sales funded the cost of exercising 250,600 options at $5.08 per share, rather than representing purely discretionary profit-taking activity.

How many Sunrun (RUN) shares does Fenster own after these transactions?

After the reported transactions, Fenster directly owned 1,553,895 Sunrun common shares. This total includes 3,184 restricted stock units, which are subject to forfeiture until vesting, reflecting both regular shares and unvested equity awards in his reported ownership.

What stock option did Sunrun (RUN) director Fenster exercise in this Form 4?

He exercised an employee stock option covering 250,600 shares at an exercise price of $5.08 per share. The filing notes the option was fully vested, had a 10-year term, and carried an expiration date of February 11, 2026, the same day it was exercised.

Did Sunrun (RUN) director Fenster make any gifts of stock in this filing?

Yes. The Form 4 reports a bona fide gift of 25,000 Sunrun common shares coded as a “G” transaction. This transfer reduced his directly held shares but did not involve any sale proceeds, distinguishing it from the option-related sale transactions disclosed.