RUN Form 4: Mary Powell Sells Shares to Cover RSU Taxes

Rhea-AI Filing Summary

Mary Powell, Chief Executive Officer and Director of Sunrun Inc. (RUN) reported a sale of 3,142 shares of Sunrun common stock on 09/08/2025 to cover tax obligations from the settlement of vested restricted stock units. The form lists a weighted average sale price of $16.9309, with individual sale prices ranging from $16.455 to $17.41 per share. After the transaction, the reporting person beneficially owned 888,289 shares, which include 621,066 restricted stock units that remain subject to forfeiture until they vest. The Form 4 was signed by an attorney-in-fact on 09/10/2025.

Positive

• Sale explicitly disclosed as tax-withholding from vested RSUs, indicating administrative purpose rather than speculative selling
• Form includes weighted average price and price range, enhancing transparency about the transaction pricing
• Reporting shows substantial retained holdings (888,289 shares including 621,066 unvested RSUs), indicating continued insider ownership

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine tax-related insider sale; small absolute size relative to total holdings and not clearly material to RUN's valuation.

The reported transaction shows a sale of 3,142 shares to satisfy tax withholding from vested RSUs, executed at a weighted average price of $16.9309. The reporting person still beneficially owns 888,289 shares, including 621,066 RSUs subject to forfeiture, indicating continued long-term exposure. The sale appears administrative rather than a directional bet on the company, and no derivative activity or additional transfers are disclosed.

Corporate Governance Expert

TL;DR: Disclosure is compliant and transparent; transaction aligns with routine insider tax-withholding practices.

The Form 4 clearly states the sale purpose (tax withholding) and provides the weighted average price and reported price range. The inclusion of unvested restricted stock units in total holdings is helpful for assessing ongoing alignment with shareholders. There are no indications of atypical trading patterns, coordinated sales, or additional governance concerns in this filing.

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^*

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)
09/08/2025

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	09/08/2025		S(1)		3,142	D	$16.9309(2)	888,289(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 $16.455 to $17.41 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 621,066 restricted stock units, which are subject to forfeiture until they vest.

Remarks:

	/s/ Sundance Banks, Attorney-in-Fact	09/10/2025
	** 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 transaction did Mary Powell report on Form 4 for RUN?

She sold 3,142 shares of Sunrun common stock on 09/08/2025.

Why were the shares sold according to the Form 4?

The shares were sold to cover tax obligations arising from the settlement of vested restricted stock units.

At what price were the shares sold in the reported transaction?

The weighted average sale price was $16.9309, with individual sales ranging from $16.455 to $17.41 per share.

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

888,289 shares beneficially owned following the transaction, which include 621,066 restricted stock units that remain subject to forfeiture until they vest.

Who signed the Form 4 filing?

The Form 4 was signed by an attorney-in-fact, Sundance Banks, on 09/10/2025.