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

Reporting relationship: CO-FOUNDER CO-CEO CO-PRESIDENT, Director, 10%+ Owner
Issuer ticker: N/A
Reported as of: 22 Mar 2024
Net transaction value: -$270,975
SEC form: 4
Accepted by SEC: 05 Apr 2024, 17:51:24 UTC
Prior SEC filing: 05 Mar 2024
Next SEC filing: 31 Dec 2024
Source filing: View source filing
Reporting owner signature: /s/ Sophia Lee, as Attorney-in-Fact

Key filing fact

Lars Norell filed Form 4 for Altus Power, Inc. on 05 Apr 2024.

Key facts

This page summarizes Lars Norell's Form 4 filing for Altus Power, Inc..
4 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 05 Apr 2024, 17:51.

Change

Previous filing in this sequence was filed on 05 Mar 2024.
Current net transaction value: -$270,975.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AMPS transaction

Class A Common Stock

Tax liability

Transaction value: $270,975
Shares: -56,571
Change %: -1.5%
Price: $4.79
Shares after: 3,633,289
Date: 22 Mar 2024
Ownership: Direct
Footnotes: F1

AMPS transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +198,248
Change %: +5.5%
Price: $0.000000
Shares after: 3,831,537
Date: 28 Mar 2024
Ownership: Direct
Footnotes: F2

AMPS transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +263,598
Change %: +6.9%
Price: $0.000000
Shares after: 4,095,135
Date: 28 Mar 2024
Ownership: Direct
Footnotes: F3

AMPS holding

Class A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 21,614,907
Date: 22 Mar 2024
Ownership: By Start Capital LLC
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AMPS transaction Derivative

Performance Stock Unit

Award

Transaction value: $0
Shares: +175,732
Change %
Price: $0.000000
Shares after: 175,732
Date: 28 Mar 2024
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 175,732
Exercise price
Footnotes: F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.

Footnote 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.