4//SEC Filing
Cornelius Craig 4
Accession 0001415889-24-019185
CIK 0001567683other
Filed
Jul 2, 8:00 PM ET
Accepted
Jul 3, 4:18 PM ET
Size
9.4 KB
Accession
0001415889-24-019185
Insider Transaction Report
Form 4
Cornelius Craig
DirectorPresident & CEO
Transactions
- Award
Relative Performance Stock Units
2024-07-01+75,889→ 75,889 totalFrom: 2027-04-15Exp: 2027-04-15→ Class C Common Stock, par value $.01 per share (113,833 underlying) - Award
Class C Common Stock, par value $.01 per share
2024-07-01+37,945→ 412,945 total
Footnotes (4)
- [F1]In connection with his appointment as President and Chief Executive Officer, Mr. Cornelius was granted Restricted Stock Units ("RSUs") under Clearway Energy, Inc.'s Amended and Restated 2013 Equity Incentive Plan (the "LTIP"). 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.
- [F2]Each RSU is equivalent in value to one share of Clearway Energy, Inc.'s Class C Common Stock, par value $.01 per share.
- [F3]The Reporting Person was issued 75,889 Relative Performance Stock Units ("RPSUs") by Clearway Energy, Inc. under the LTIP on July 1, 2024. The RPSUs will convert to shares of Clearway Energy, Inc. Class C Common Stock on April 15, 2027 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.
- [F4]Reporting Person will receive (i) a maximum of 113,833 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) 75,889 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) 18,972 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 0002026637
Filing Metadata
- Form type
- 4
- Filed
- Jul 2, 8:00 PM ET
- Accepted
- Jul 3, 4:18 PM ET
- Size
- 9.4 KB