Lars Norell - Mar 22, 2024 Form 4 Insider Report for Altus Power, Inc. (AMPS)

Role: CO-FOUNDER CO-CEO CO-PRESIDENT, Director, 10%+ Owner
Signature: /s/ Sophia Lee, as Attorney-in-Fact
Stock symbol: AMPS
Transactions as of: Mar 22, 2024
Transactions value $: -$270,975
Form type: 4
Date filed: 4/5/2024, 05:51 PM
Previous filing: Mar 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AMPS	Class A Common Stock	Tax liability	-$271K	-56.6K	-1.53%	$4.79	3.63M	Mar 22, 2024	Direct	F1
transaction	AMPS	Class A Common Stock	Award	$0	+198K	+5.46%	$0.00	3.83M	Mar 28, 2024	Direct	F2
transaction	AMPS	Class A Common Stock	Award	$0	+264K	+6.88%	$0.00	4.1M	Mar 28, 2024	Direct	F3
holding	AMPS	Class A Common Stock						21.6M	Mar 22, 2024	By Start Capital LLC	F4

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	Performance Stock Unit	Award	$0	+176K		$0.00	176K	Mar 28, 2024	Class A Common Stock	176K		Direct	F5

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

Explanation of Responses:

Id	Content
F1	Company withheld securities to cover payment of withholding tax liability incident to the vesting of a security issued in accordance with Rule 16b-3.
F2	Represents 198,248 restricted stock units ("RSUs") granted to the Reporting Person on the transaction date pursuant to the Altus Power, Inc. 2021 Omnibus Incentive Plan (the "Plan"). Each RSU represents the right to receive one share of the Issuer's Class A Common Stock. The RSUs are subject the Reporting Person's continued service to the Issuer and vesting as follows: 50% vesting on the first anniversary of the grant date and 50% vesting on the second anniversary of the grant date.
F3	Represents 263,598 RSUs granted to the Reporting Person on the transaction date pursuant to the Plan. Each RSU represents the right to receive one share of Issuer's Class A Common Stock. The RSUs are subject the Reporting Person's continued service to the Issuer and vesting as follows: approximately 33.3% vesting on the first anniversary of the grant date, approximately 33.3% vesting on the second anniversary of the grant date, and approximately 33.4% vesting on the third anniversary of the grant date.
F4	Shares held by Start Capital LLC, of which the Reporting Person is the managing member. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
F5	Represents 175,732 performance stock units, each of which represents the right to receive one share of the Issuer's Class A Common Stock and which vest in one installment on the third anniversary of the grant date based upon the Issuer's total stockholder return when compared to the Invesco Solar ETF ("TAN"), subject to certain adjustments, and the Russell 2000 index, assigning a weight of 50% to each. The number of performance stock units vested, and thus shares of Class A Common Stock issued, could range from 0 to 150% of the amount reported on this Form 4.