Steven Chuslo - Mar 1, 2024 Form 4 Insider Report for Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI)

Role: EVP AND CHIEF LEGAL OFFICER
Signature: /s/ Steven Chuslo
Stock symbol: HASI
Transactions as of: Mar 1, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/4/2024, 04:10 PM
Previous filing: Aug 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	HASI	Common stock, par value $0.01 per share						227K	Mar 1, 2024	Direct
holding	HASI	Common stock, par value $0.01 per share						4.7K	Mar 1, 2024	By spouse	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	HASI	LTIP Units	Award	$0	+52.2K	+29.36%	$0.00	230K	Mar 1, 2024	Common stock, par value $0.01 per share	52.2K		By HASI Management HoldCo LLC	F2, F3, F4, F5, F6

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

Explanation of Responses:

Id	Content
F1	These shares are held by the reporting person's spouse. The reporting person disclaims ownership other than to the extent of his pecuniary interest.
F2	Vested LTIP Units, after achieving parity with OP Units (as described in the Partnership's Amended and Restated Agreement of Limited Partnership (the "Partnership Agreement")), are eligible to be converted into OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership Agreement. Upon conversion of LTIP Units into OP Units, the Reporting Person will have the right to cause the Partnership to redeem a portion of the Reporting Person's OP Units for cash in an amount equal to the market value (as defined in the Partnership Agreement) of an equivalent number of shares of common stock, par value $0.01 per share, of Hannon Armstrong Sustainable Infrastructure Capital, Inc. (the "Issuer"), or at the Issuer's option, shares of the Issuer's common stock on a one-for-one basis, subject to certain adjustments.
F3	230,004 units of limited partner interest ("OP Units") in Hannon Armstrong Sustainable Infrastructure, LP (the "Partnership") are issuable upon the vesting and conversion of 230,004 long-term incentive plan units ("LTIP Units") in the Partnership. The LTIP Units were granted to the Reporting Person under the Issuer's 2013 Equity Incentive Plan, as amended, and the Issuer's 2022 Equity Incentive Plan.
F4	N/A
F5	Previously included in this total were 12,800 LTIP Units which did not vest, as certain performance targets for the performance period ended December 31, 2023 were not met.
F6	These LTIP Units are held by HASI Management HoldCo LLC ("HoldCo LLC"). The Reporting Person is a member of HoldCo LLC. The LTIP Units reported represent only the number of LTIP Units in which the Reporting Person has a pecuniary interest in accordance with his proportionate interest in HoldCo LLC. The Reporting Person is voluntarily reporting his proportionate interest in HoldCo LLC's ownership of LTIP Units. The Reporting Person disclaims beneficial ownership other than to the extent of his pecuniary interest.