4//SEC Filing
Plotkin Chad 4
Accession 0001415889-22-004145
CIK 0001567683other
Filed
Apr 18, 8:00 PM ET
Accepted
Apr 19, 4:48 PM ET
Size
15.2 KB
Accession
0001415889-22-004145
Insider Transaction Report
Form 4
Plotkin Chad
SVP and CFO
Transactions
- Tax Payment
Class C Common Stock, par value $.01 per share
2022-04-15−1,532→ 71,020 total - Award
Class C Common Stock, par value $.01 per share
2022-04-15+6,651→ 76,672 total - Tax Payment
Class C Common Stock, par value $.01 per share
2022-04-15−999→ 70,021 total - Award
Relative Performance Stock Units
2022-04-15+13,045→ 13,045 totalFrom: 2025-04-15Exp: 2025-04-15→ Class C Common Stock, par value $.01 per share (19,567 underlying)
Footnotes (9)
- [F1]On April 15, 2020, Mr. Plotkin was issued 8,250 Restricted Stock Units ("RSUs") by Clearway Energy, Inc. (f/k/a NRG Yield, Inc.) under Clearway Energy Inc.'s Amended and Restated 2013 Equity Incentive Plan (the "LTIP"). 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 Clearway Energy Inc., par value $.01 per share. On April 15, 2022, 2,994 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 1,532 shares of Class C Common Stock to satisfy the grantee's tax withholding obligation.
- [F2]In connection with the vesting of the RSUs described above, 247 DERs converted to Class C Common Stock, resulting in the reporting person holding 2,495 dividend equivalent rights that may only be settled in Class C Common Stock. Dividend equivalent rights accrue on the reporting person's restricted stock, which become exercisable proportionately with the restricted stock units to which they relate and may only be settled in Clearway Energy, Inc. Class C Common Stock. Each dividend equivalent right is the economic equivalent of one share of Clearway Energy, Inc. Class C Common Stock.
- [F3]On April 15, 2021, Mr. Plotkin was issued 5,622 Restricted Stock Units ("RSUs") by Clearway Energy, Inc. (f/k/a NRG Yield, Inc.) under Clearway Energy Inc.'s Amended and Restated 2013 Equity Incentive Plan (the "LTIP"). 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 Clearway Energy Inc., par value $.01 per share. On April 15, 2022, 1,953 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 999 shares of Class C Common Stock to satisfy the grantee's tax withholding obligation.
- [F4]In connection with the vesting of the RSUs described above, 81 DERs converted to Class C Common Stock, resulting in the reporting person holding 2,414 dividend equivalent rights that may only be settled in Class C Common Stock. Dividend equivalent rights accrue on the reporting person's restricted stock, which become exercisable proportionately with the restricted stock units to which they relate and may only be settled in Clearway Energy, Inc. Class C Common Stock. Each dividend equivalent right is the economic equivalent of one share of Clearway Energy, Inc. Class C Common Stock.
- [F5]Represents RSUs issued to Mr. Plotkin under the LTIP.
- [F6]Each RSU is equivalent in value to one share of Clearway Energy, Inc.'s Class C Common Stock, par value $.01 per share.
- [F7]The Reporting Person will receive from Clearway Energy, Inc. one such share of Class C Common Stock for each RSU that will vest ratably over a three-year period beginning on the first anniversary of the date of the grant.
- [F8]The Reporting Person was issued 13,045 Relative Performance Stock Units ("RPSUs") by Clearway Energy, Inc. under the LTIP on April 15, 2022. The RPSUs will convert to shares of Clearway Energy, Inc. Class C Common Stock on April 15, 2025 only in the event the Company has achieved a certain level of total shareholder return ("TSR") relative to the Peer Group (defined below) over a three-year performance period. The number of shares of Common Stock that the Reporting Person may receive is interpolated for TSR falling between Threshold, Target, and Maximum levels as described below.
- [F9]Reporting Person will receive (i) a maximum of 19,567 shares of Class C Common Stock if Company's TSR is ranked at or above the 75th percentile relative to a peer group of companies approved by the Company's Compensation Committee (the "Peer Group") for the performance period ("Maximum"); (ii) 13,045 shares of Class C Common Stock if Company's TSR is ranked at the 50th percentile relative to the Peer Group for the performance period (the "Target"); provided, however, if TSR is less than negative twenty percent (-20%), the Company's TSR must be ranked at the 60th percentile relative to the Peer Group for the performance period to receive the Target award; or (iii) 3,261 shares of Common Stock if Company's TSR is ranked at the 25th percentile relative to the Peer Group for the performance period (the "Threshold"). The Reporting Person will not receive any shares of Common Stock if Company's TSR is below the 25th percentile.
Documents
Issuer
Clearway Energy, Inc.
CIK 0001567683
Entity typeother
Related Parties
1- filerCIK 0001685648
Filing Metadata
- Form type
- 4
- Filed
- Apr 18, 8:00 PM ET
- Accepted
- Apr 19, 4:48 PM ET
- Size
- 15.2 KB