ZEO Form 4: Officer Reports Two Open-Market Sales, Retains >2.9M Shares

Rhea-AI Filing Summary

Brandon Clarke Bridgewater, identified as the company's Chief Strategy Officer, reported two open-market sales of Zeo Energy Corp. (ZEO) Class A common stock. On 08/27/2025 he sold 32,412 shares at a weighted-average price of $1.7477, leaving beneficial ownership of 2,967,588 shares (indirect). On 08/28/2025 he sold an additional 28,875 shares at a weighted-average price of $1.6197, leaving beneficial ownership of 2,938,713 shares (indirect). The holdings reported are held of record by Clarke Capital, LLC, for which the reporting person may be deemed a beneficial owner; he disclaims beneficial ownership except to the extent of his pecuniary interest. The form is signed and dated 08/29/2025.

Positive

• None.

Negative

• Insider sales: The reporting person sold a total of 61,287 Class A shares across 08/27/2025 and 08/28/2025.
• Reduction in reported beneficial ownership: Indirect holdings decreased from 2,? (implicit reduction) to 2,938,713 after these transactions as reported on the form.

Insights

Securities Analyst

TL;DR Officer executed routine open-market sales totaling 61,287 shares across two days; holdings remain substantial and are indirect.

The reported transactions are coded as sales ("S") and reflect a weighted-average sale price of $1.7477 on 08/27/2025 and $1.6197 on 08/28/2025. The reporting person continues to be shown as an indirect beneficial owner of over 2.9 million Class A shares through Clarke Capital, LLC. These disclosures are typical Section 16 filings for officer liquidity events and do not, by themselves, indicate a change in corporate control or a dilutive corporate action. Investors should note timing and volume but the filing contains no additional operational or financial data.

Corporate Governance Expert

TL;DR Insider sales were disclosed properly; beneficial ownership remains concentrated through an affiliated entity.

The Form 4 indicates compliance with Section 16 reporting: transactions are disclosed with weighted-average prices and a commitment to provide detailed trade breakdowns on request. The shares are held of record by Clarke Capital, LLC, and the reporting person disclaims direct beneficial ownership beyond pecuniary interest. From a governance perspective, the filing documents insider liquidity while retaining substantial indirect ownership, which may preserve alignment with long-term shareholders.

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^*

Bridgewater Brandon

(Last) (First) (Middle)

282 RIVER BEND LANE

(Street)

PROVO UT 84604

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Zeo Energy Corp. [ ZEO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2025

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
Class A Common Stock	08/27/2025		S		32,412	D	$1.7477(1)	2,967,588	I	See Footnote(2)
Class A Common Stock	08/28/2025		S		28,875	D	$1.6197(3)	2,938,713	I	See Footnote(2)

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 price reported in Column 4 is a weighted average price of $1.7477. The Reporting Person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range.

2. Comprises shares of Class A Common Stock of the Issuer held of record by Clarke Capital, LLC, for which the reporting person may be deemed to be the beneficial owner of shares held by such entity. The reporting person disclaims beneficial ownership over any such shares expected to be held by such entity, except to the extent of their pecuniary interest therein.

3. The price reported in Column 4 is a weighted average price of $1.6197. The Reporting Person undertakes to provide to the registrant, any security holder of the registrant, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range.

	/s/ Brandon Clarke Bridgewater	08/29/2025
	** 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 transactions did the ZEO reporting person disclose on Form 4?

The report discloses two open-market sales: 32,412 shares on 08/27/2025 at a weighted-average price of $1.7477 and 28,875 shares on 08/28/2025 at a weighted-average price of $1.6197.

Who is the reporting person on the ZEO Form 4?

The reporting person is listed as Bridgewater Brandon (signed as Brandon Clarke Bridgewater), identified as an officer with the title CSO.

How many ZEO shares does the reporting person beneficially own after the reported sales?

Following the reported transactions, the filing shows indirect beneficial ownership of 2,967,588 shares after the 08/27/2025 sale and 2,938,713 shares after the 08/28/2025 sale, held of record by Clarke Capital, LLC.

Are the reported shares owned directly by the reporting person?

No. The filing states the shares are held of record by Clarke Capital, LLC and the reporting person may be deemed an indirect beneficial owner, disclaiming direct beneficial ownership except for pecuniary interest.

When was the Form 4 signed and filed?

The signature block shows the form was signed by /s/ Brandon Clarke Bridgewater on 08/29/2025.