David Nanus - 04 Mar 2026 Form 4 Insider Report for NRG ENERGY, INC. (NRG)

Role: 10%+ Owner
Signature: /s/ Jeffrey Wade, Attorney-in-Fact for David Nanus
Issuer symbol: NRG
Transactions as of: 04 Mar 2026
Net transactions value: -$2,645,200,116
Form type: 4
Filing time: 04 Mar 2026, 18:50:10 UTC
Previous filing: 06 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Nanus David	10%+ Owner	250 W 55TH STREET, 31ST FLOOR, NEW YORK	/s/ Jeffrey Wade, Attorney-in-Fact for David Nanus	04 Mar 2026	0001870860

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NRG	Common stock, par value $0.01 per share	Sale	$2,345,200,000	-14,300,000	-68%	$164.00	6,650,000	04 Mar 2026	See Footnotes	F1, F3, F4
transaction	NRG	Common stock, par value $0.01 per share	Sale	$300,000,116	-1,829,269	-28%	$164.00	4,820,731	04 Mar 2026	See Footnotes	F2, F3, F4
holding	NRG	Common stock, par value $0.01 per share						3,300,000	04 Mar 2026	See Footnote	F5

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

David Nanus is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	These shares were sold by Lightning Power Holdings, LLC, Thunder Generation LLC, and CCS Power Holdings, LLC (the Selling Stockholders) pursuant to an underwriting agreement dated March 2. 2026, among the Selling Stockholders, the Issuer, Barclays Capital Inc. and Citibank Global Markets Inc., at a price per share of $164, before underwriting discounts and commissions (the Secondary Offering). The Secondary Offering closed on March 4, 2026.
F2	Also on March 4, 2026, the Selling Stockholders sold shares of the Issuer's Common Stock at a price of $164 to the Issuer pursuant to a Stock Repurchase Agreement dated as of February 27, 2026.
F3	3,782,093, 799,282, and 239,356 shares are held directly by Lightning Power Holdings, LLC, Thunder Generation LLC, and CCS Power Holdings, LLC, respectively. The investment advisor to the LS Power entities who may be deemed to beneficially own the securities held by the Selling Stockholders is LS Power Equity Advisors, LLC (LSP Advisors). The reporting person is the President of LSP Advisors.
F4	The reporting person, through his position, relationship and/or affiliation with the LS Power entities, may have shared voting and investment power with respect to the shares beneficially owned by the LS Power entities. As such, the reporting person may be deemed to have or share beneficial ownership of the shares beneficially owned by the LS Power entities. The reporting person disclaims beneficial ownership of such shares.
F5	The Issuer and the Selling Stockholders are parties to an Amended and Restated Voting Trust Agreement with Wilmington Savings Fund Society, FSB (the Trustee), pursuant to which the Selling Stockholders deposited 3,300,000 shares of Common Stock in the Project Hurricane Consideration Voting Trust 2026 (the Trust) and granted to the Trustee, subject to certain exceptions, voting rights with respect to such shares.