BlackRock Portfolio Management LLC - 31 Mar 2026 Form 4 Insider Report for Clearway Energy, Inc. (CWEN)

Reporting relationship: 10%+ Owner
Issuer ticker: CWEN
Reported as of: 31 Mar 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 02 Apr 2026, 18:33:00 UTC
Prior SEC filing: 30 Mar 2026
Next SEC filing: 01 May 2026
Source filing: View source filing
Reporting owner signature: BlackRock Portfolio Management LLC By: /s/ Julie Ashworth, Authorized Signatory

Key filing fact

BlackRock Portfolio Management LLC filed Form 4 for Clearway Energy, Inc. (CWEN) on 02 Apr 2026.

Key facts

This page summarizes BlackRock Portfolio Management LLC's Form 4 filing for Clearway Energy, Inc. (CWEN).
6 reported transactions and 3 derivative rows are listed below.
Accepted by SEC: 02 Apr 2026, 18:33.

Change

Previous filing in this sequence was filed on 30 Mar 2026.
Current net transaction value: $0.

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

Reporting Owners (1)

CIK 0002052113 Primary reporting owner

BlackRock Portfolio Management LLC

Relationship: 10%+ Owner
Address: 50 HUDSON YARDS, NEW YORK
Signature: BlackRock Portfolio Management LLC By: /s/ Julie Ashworth, Authorized Signatory
Signature date: 02 Apr 2026

Reported non-derivative transactions

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

CWEN transaction

Class C Common Stock

Conversion of derivative security

Transaction value
Shares: +215,000
Change %: +128%
Price
Shares after: 383,180
Date: 31 Mar 2026
Ownership: See footnotes
Footnotes: F1, F4, F5, F6

CWEN transaction

Class C Common Stock

Other

Transaction value
Shares: +99,661
Change %: +26%
Price: $39.91^*
Shares after: 482,841
Date: 01 Apr 2026
Ownership: See footnotes
Footnotes: F2, F4, F5, F6

CWEN transaction

Class C Common Stock

Other

Transaction value
Shares: -435,552
Change %: -90%
Price: $39.91^*
Shares after: 47,289
Date: 01 Apr 2026
Ownership: See footnotes
Footnotes: F3, F4, F5, F6

Reported derivative securities

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

CWEN transaction Derivative

Class D Units of Clearway Energy LLC

Conversion of derivative security

Transaction value
Shares: -215,000
Change %: -0.52%
Price: $0.000000^*
Shares after: 41,361,142
Date: 31 Mar 2026
Ownership: See footnotes
Underlying class: Class C Common Stock
Underlying amount: 215,000
Exercise price
Footnotes: F1, F4, F5, F6

CWEN transaction Derivative

Class B Units of Clearway Energy LLC

Other

Transaction value
Shares: -42,738,750
Change %: -100%
Price
Shares after: 0
Date: 01 Apr 2026
Ownership: See footnotes
Underlying class: Class A Common Stock
Underlying amount: 42,738,750
Exercise price
Footnotes: F4, F5, F6, F7, F8

CWEN transaction Derivative

Class B Units of Clearway Energy LLC

Other

Transaction value
Shares: +42,738,750
Change %
Price
Shares after: 42,738,750
Date: 01 Apr 2026
Ownership: See footnotes
Underlying class: Class C Common Stock
Underlying amount: 42,738,750
Exercise price
Footnotes: F4, F5, F6, F7, F8

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 8 footnotes

Footnote F1

Pursuant to a Second Amended and Restated Exchange Agreement, dated as of October 28, 2024, among the Issuer, Clearway Energy LLC and other parties thereto (the "Exchange Agreement"), the Class D Units of Clearway Energy LLC are exchangeable at any time for shares of Class C Common Stock on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends and reclassifications. Pursuant to the Exchange Agreement, as the holder exchanges the Class D Units for shares of Class C Common Stock, an equivalent number of shares of Class D Common Stock issued to the holder will automatically be canceled.

Footnote F2

Reflects the withholding of shares to satisfy tax withholding obligations in connection with the vesting of restricted stock of the Issuer previously granted by Clearway Energy Group under its Long Term Equity Incentive Program to one or more of its employees.

Footnote F3

Reflects grant of shares of restricted stock of the Issuer granted by Clearway Energy Group under its Long Term Equity Incentive Program to one or more of its employees. The Reporting Person has agreed to voluntarily disgorge any profits deemed realized from such transactions to the Issuer.

Footnote F4

Reflects securities held directly by Clearway Energy Group. Zephyr Holdings GP, LLC ("Zephyr GP") is the general partner of GIP III Zephyr Acquisition Partners, L.P. ("Zephyr") which is the sole member of Clearway Energy Group. Zephyr GP is owned by GIP III Zephyr Midco Holdings, L.P. ("Midco") and TotalEnergies Renewables USA, LLC. Global Infrastructure Investors III, LLC ("Global Investors") is the sole general partner of Global Infrastructure GP III, L.P. ("Global GP"), which is the general partner of Midco. As a result, each of Zephyr GP, Zephyr, Midco, Global GP and Global Investors (the "GIP Entities") may be deemed to share beneficial ownership of the securities owned by Clearway Energy Group.

Footnote F5

Adebayo Ogunlesi, Michael McGhee, Rajaram Rao, Deepak Agrawal, Julie Ashworth, Jonathan Bram, William Brilliant, Matthew Harris, Tom Horton, Sugam Mehta and Salim Samaha, as the voting members of the Investment Committee of Global Investors, may be deemed to share beneficial ownership of the Issuer securities beneficially owned by Global Investors. Such individuals expressly disclaim any such beneficial ownership.

Footnote F6

BlackRock Portfolio Management LLC and the GIP Entities disclaim beneficial ownership of the securities reported herein, except to the extent of their respective pecuniary interest therein, if any, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), BlackRock Portfolio Management LLC and the GIP Entities state that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act or for any other purpose.

Footnote F7

Pursuant to the Exchange Agreement, the Class B Units of Clearway Energy LLC were previously exchangeable at any time for shares of Class A Common Stock on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends and reclassifications. Pursuant to the Exchange Agreement, if the holder exchanged the Class B Units for shares of Class A Common Stock, an equivalent number of shares of Class B Common Stock issued to the holder would automatically be canceled.

Footnote F8

On April 1, 2026, the Issuer, Clearway Energy LLC and certain other parties entered into the Third Amended and Restated Exchange Agreement (the "Amended Exchange Agreement"), which amended and restated the Exchange Agreement. Pursuant to the Amended Exchange Agreement, the Class B Units of Clearway Energy LLC are exchangeable at any time for shares of Class C Common Stock (instead of Class A Common Stock) on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends and reclassifications. As the holder exchanges the Class B Units for shares of Class C Common Stock pursuant to the Amended Exchange Agreement, an equivalent number of shares of Class B Common Stock issued to the holder will automatically be canceled. This amendment and restatement did not involve any purchase or sale of Class B Units.

SEC remarks

In accordance with SEC Release No. 34-39538 (January 12, 1998), BlackRock Portfolio Management LLC is reporting Issuer securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. This filing does not include Issuer securities, if any, beneficially owned by other business units whose beneficial ownership of securities is disaggregated from that of the Reporting Business Units in accordance with such release.