SEC Form 4 · accession 0001179110-17-000422
Clearway Energy, Inc. · CWEN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Christopher S Sotos
Officer — President and CEO · Director
Period of report
Jan 2, 2017
Accepted (ET)
Jan 4, 2017 · 8:48 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001567683
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class C Common Stock, par value $.01 per shareF1,F2 | Jan 2, 2017 | F | 2,702 | — | D | 81,965 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On August 8, 2016, Mr. Sotos was issued 80,192 Restricted Stock Units ("RSUs") by NRG Yield, Inc. under NRG Yield, Inc.'s Equity Incentive Plan that vest as follows: (1) 4,812 shares on January 2, 2017, (2) 8,821 shares on January 2, 2018, and (3) 66,559 shares on January 2, 2019. Each RSU is equivalent in value to one share of Class C Common Stock of NRG Yield, Inc., par value $.01. On January 2, 2017, 4,812 shares vested. Mr. Sotos elected to satisfy his tax obligation upon the exchange of common stock for RSUs having a value on the date of the exchange equal to the withholding obligation. This form is being filed to reflect the surrender of 2,702 shares of Class C Common Stock to satisfy the grantee's tax withholding obligation.
- F2In connection with the vesting of the RSUs described above, 148 DERs converted to Class C Common Stock, resulting in the reporting person holding 2,327 dividend equivalent rights that may only be settled in Class C Common Stock. Dividend equivalent rights accrue on the reporting person's restricted stock units or market stock units, which become exercisable proportionately with the restricted stock units or market stock units to which they relate and may only be settled in NRG Yield, Inc. Class C Common Stock. Each dividend equivalent right is the economic equivalent of one share of NRG Yield, Inc. Class C Common Stock.