CBRE Acquisition Sponsor, LLC - Mar 31, 2023 Form 4 Insider Report for Altus Power, Inc. (AMPS)

Role: Director, 10%+ Owner
Signature: CBRE ACQUISITION SPONSOR, LLC, By: /s/ Emma E. Giamartino, Name: Emma E. Giamartino, Title: Chief Financial Officer
Stock symbol: AMPS
Transactions as of: Mar 31, 2023
Transactions value $: $0
Form type: 4
Date filed: 4/3/2023, 07:10 PM
Previous filing: Sep 23, 2022
Next filing: Apr 2, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AMPS	Class A Common Stock	Options Exercise		+1.81K	+0.01%		24.6M	Mar 31, 2023	Held through CBRE Acquisition Sponsor, LLC	F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AMPS	Class B Common Stock	Options Exercise	$0	-181K	-16.67%	$0.00	906K	Mar 31, 2023	Class A Common Stock	1.81K		Held through CBRE Acquisition Sponsor, LLC	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the terms of the Class B common stock of the Issuer (the "Class B Common Stock"), of which an aggregate of 1,006,250 shares are currently outstanding, on the last day of each measurement period, which will occur annually over seven fiscal years following the completion of the business combination of CBRE Acquisition Holdings, Inc. with Altus Power, Inc., which occurred on December 9, 2021, an aggregate of 201,250 shares of Class B Common Stock will automatically convert, subject to adjustment, into shares of Class A Common Stock of the Issuer (the "Class A Common Stock"), pursuant to a formula based on the stock price of the Class A Common Stock, into an aggregate minimum of 2,013 shares of Class A Common Stock on each conversion date, up to an aggregate maximum of 14,596,637 shares of Class A Common Stock over such seven year period.
F2	On the last day of the measurement period ending on March 31, 2023 and pursuant to the formula referenced above, an aggregate of 201,250 shares of Class B Common Stock automatically converted into an aggregate of 2,013 shares of Class A Common Stock. Such conversion of Class B Common Stock applies to each holder of Class B Common Stock on a pro rata basis on the basis of the amounts of such Class B Common Stock held by such holder. In connection with the above, 181,125 shares of Class B Common Stock beneficially owned by the Reporting Persons were converted into 1,811 shares of Class A Common Stock.
F3	Represents securities directly held by CBRE Acquisition Sponsor, LLC ("CBRE Sponsor"). The sole member of CBRE Sponsor is CBRE Services, Inc., which is a wholly-owned subsidiary of CBRE Group, Inc., a publicly traded company.