SEC Form 4 · accession 0001179110-18-000626
Clearway Energy, Inc. · CWEN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Chad Plotkin
Officer — SVP and CFO
Period of report
Jan 3, 2018
Accepted (ET)
Jan 5, 2018 · 5:26 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 3, 2018 | F | 1,416 | — | D | 27,111 | D | |
| Class C Common Stock, par value $.01 per shareF3,F4 | Jan 4, 2018 | F | 3,106 | — | D | 24,005 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 3, 2017, Mr. Plotkin was issued 7,357 Restricted Stock Units ("RSUs") by NRG Yield, Inc. under NRG Yield, Inc.'s Equity Incentive Plan. These RSUs vest ratably over a three year period beginning on the first anniversary of the date of the grant. Each RSU is equivalent in value to one share of Class C Common Stock of NRG Yield, Inc., par value $.01 per share. On January 3, 2018, 2,449 shares vested. Mr. Plotkin 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 reflects the surrender of 1,416 shares of Class C Common Stock to satisfy the grantee's tax withholding obligation.
- F2In connection with the vesting of the RSUs described above, 150 dividend equivalent rights converted to Class C Common Stock, resulting in the reporting person holding 1,757 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, which become exercisable proportionately with the restricted 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.
- F3On November 7, 2016, Mr. Plotkin was issued 16,903 RSUs by NRG Yield, Inc. under NRG Yield, Inc.'s Equity Incentive Plan that vest as follows: (1) 7,099 shares on January 4, 2017, (2) 5,578 shares on January 4, 2018, and (3) 4,226 shares on January 4, 2019. Each RSU is equivalent in value to one share of Class C Common Stock of NRG Yield, Inc., par value $.01 per share. On January 4, 2018, 5,578 shares vested. Mr. Plotkin 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 reflects the surrender of 3,106 shares of Class C Common Stock to satisfy the grantee's tax withholding obligation.
- F4In connection with the vesting of the RSUs described above, 441 dividend equivalent rights converted to Class C Common Stock, resulting in the reporting person holding 1,316 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, which become exercisable proportionately with the restricted 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.