RUN insider grant of 39,393 RSUs with 25% vesting on 04/06/2026

Rhea-AI Filing Summary

Maria Barak, Chief Accounting Officer at Sunrun Inc. (RUN), reported receiving 39,393 restricted stock units (RSUs) on 04/10/2025 with a $0 acquisition price and a post-transaction beneficial ownership of 95,808 shares. The filing shows a sale of 1,005 shares on 10/06/2025 for a weighted average price of $19.3382 per share; the sale was disclosed as made to cover tax obligations from vesting. After the sale, the reporting person beneficially owns 94,803 shares, which include 61,199 RSUs that remain subject to forfeiture until vesting. The RSUs vest 25% on 04/06/2026 with the remainder vesting in equal quarterly installments (1/12 of the remainder) thereafter, conditional on continued service.

Positive

• Significant retention alignment: 61,199 RSUs remain unvested, tying compensation to future service and performance
• Tax-cover sale only: 1,005 shares were sold to cover taxes rather than a large-scale disposition

Negative

• Reduction in immediate holdings: sale of 1,005 shares reduced beneficial ownership to 94,803
• Material forfeiture risk: 61,199 RSUs are subject to forfeiture until they vest, creating dependency on continued service

Insights

Corporate Insider/Compensation Analyst

TL;DR: A CAO received a standard RSU grant and sold a small portion to cover taxes, leaving a majority of RSUs unvested.

The reported 39,393 RSU grant at no purchase price functions as compensation to align the officer with shareholder interests; 25% vests on 04/06/2026 with the remainder vesting quarterly, so most value remains tied to continued service and future share performance. The sale of 1,005 shares on 10/06/2025 at a weighted average of $19.3382 is identified as a tax-covering disposition rather than a discretionary liquidity event.

The key dependencies are company share price between now and vesting dates and the officer's continued service through each vesting date. Near-term items to watch include the 04/06/2026 vest date and any further filings that disclose additional sales or changes in beneficial ownership within the next 12 months.

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^*

Barak Maria

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
04/10/2025

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	04/10/2025		A		39,393(1)	A	$0	95,808	D
Common Stock	10/06/2025		S(2)		1,005	D	$19.3382(3)	94,803(4)	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. Each share is represented by a restricted stock unit. 25% of the restricted stock units will vest on April 6, 2026, and 1/12 of the remaining restricted stock units will vest quarterly thereafter, subject to the Reporting Person's continued service through each vesting date.

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

3. Price represents the weighted average sale price of the shares sold. The sale price ranged from $19.15 to $19.45 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. Shares held following the reported transactions include 61,199 restricted stock units, which are subject to forfeiture until they vest.

Remarks:

	/s/ Sundance Banks, Attorney-in-Fact	10/08/2025
	** 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 Maria Barak receive on 04/10/2025?

Maria Barak received 39,393 restricted stock units (RSUs) on 04/10/2025 at a $0 acquisition price.

Why were 1,005 shares sold on 10/06/2025?

The filing states the 1,005 shares were sold to cover tax obligations arising from the settlement of vested RSUs.

How many shares does the reporting person own after the transaction?

After the reported sale, the reporting person beneficially owns 94,803 shares, which include 61,199 unvested RSUs.

When do the RSUs vest for Maria Barak?

The RSUs vest 25% on 04/06/2026, with the remainder vesting in equal quarterly installments of 1/12 thereafter, subject to continued service.

What was the sale price range and weighted average for the shares sold?

The sale price ranged from $19.15 to $19.45 per share; the weighted average sale price reported is $19.3382.