Hayes Rejji P 4

What Happened
Rejji P. Hayes, Executive Vice President and Chief Financial Officer of CMS Energy Corp (CMS), was granted 33,144 restricted shares on 2026-01-29. The award is reported at $0.00 per share (no cash paid by the insider) and is coded as an award/grant (Form 4 code "A"). This is a compensation grant rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-01-29; Form 4 filed: 2026-02-02 (filed timely).
• Transaction type/code: Award/Grant (A).
• Shares granted/acquired: 33,144; price per share reported: $0.00; reported total value: $0.
• Vesting/conditions: Restricted stock subject to CMS' Performance Incentive Stock Plan and a three‑year "cliff" vesting schedule (footnote F1).
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• No 10b5-1, tax‑withholding, or immediate sale noted in the provided details.

Context
Restricted stock grants are a common form of executive compensation intended to align management with long‑term shareholder interests; cliff vesting means the shares typically vest only after the full three‑year period and may be forfeited if the executive leaves before vesting. Because this is a compensation award (not a market purchase or sale), it should be interpreted as part of pay and retention, not a direct signal of immediate insider bullish or bearish trading.