Blazquez Pedro Azagra - Dec 23, 2024 Form 4 Insider Report for Avangrid, Inc. (AGR)

Role: Chief Executive Officer, Director
Signature: /s/ Elizabeth K. Riotte by Power of Attorney
Stock symbol: AGR
Transactions as of: Dec 23, 2024
Transactions value $: -$1,094,193
Form type: 4
Date filed: 12/23/2024, 05:27 PM
Previous filing: Mar 4, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGR	Common Stock	Disposed to Issuer	-$1.09M	-30.6K	-100%	$35.75	0	Dec 23, 2024	Direct	F1

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	AGR	Performance Stock Units	Disposed to Issuer	$0	-10.5K	-100%	$0.00	0	Dec 23, 2024	Common Stock	10.5K		Direct	F2, F3
transaction	AGR	Performance Stock Units	Disposed to Issuer	$0	-250K	-100%	$0.00	0	Dec 23, 2024	Common Stock	250K		Direct	F2, F4

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

Blazquez Pedro Azagra is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 17, 2024, by and among the Issuer, Iberdrola, S.A., and Arizona Merger Sub, Inc., pursuant to which Arizona Merger Sub, Inc. merged with and into the Issuer with the Issuer continuing as the surviving corporation and a wholly-owned subsidiary of Iberdrola, S.A. in exchange for $35.75 (the per share merger consideration).
F2	Each performance stock unit represents one contingent right to receive one share of common stock.
F3	These performance stock units, which provided for vesting and delivery in three equal installments based on the achievement of certain performance objectives on or before June 30, 2023, March 31, 2024 and March 31, 2025, were cancelled pursuant to the Merger Agreement in exchange for the right to receive a cash payment on or before March 31, 2025 equal to $35.75 multiplied by the number performance stock units.
F4	These performance stock units, which provided for vesting and delivery in three equal installments based on the achievement of certain performance objectives on or before March 31, 2026, March 1, 2027 and February 28, 2028, were cancelled pursuant to the Merger Agreement in exchange for performance units that will vest and be settled in cash as follows: (a) the first installment will vest on March 31, 2026 and be paid by May 1, 2026, (b) the second installment will vest on March 1, 2027 and be paid by April 2, 2027, and (c) the third installment will vest on February 28, 2028 and be paid by March 31, 2028. Each cash installment payment will be equal to $35.75 multiplied by the number of performance units the reporting person actually earns based on the level of achievement of the performance goals.