CenterPoint Energy (CNP) EVP receives 69,271-share award and withholds stock for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CenterPoint Energy executive Jason Michael, EVP of Regulatory Services and Government Affairs, reported equity compensation activity in the form of common stock. He received a grant or award acquisition of 69,271 shares, reflecting the vesting of performance shares awarded in 2023 under the company’s long-term incentive plan.
To cover tax liabilities upon vesting of these performance shares and time-based RSUs, 23,868 shares and 7,813 shares were disposed of through share withholding, rather than open-market sales. After these transactions, he directly holds 213,156 common shares and indirectly holds 3,838 equivalent shares through the CenterPoint Energy, Inc. Savings Plan, which represent his ongoing ownership position.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Ryan Jason Michael
Role
EVP, Reg. Svcs. & Gov. Affairs
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 69,271 | $0.00 | -- |
| Tax Withholding | Common Stock | 23,868 | $42.64 | $1.02M |
| Tax Withholding | Common Stock | 7,813 | $42.64 | $333K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 244,837 shares (Direct);
Common Stock — 3,838 shares (Indirect, By Savings Plan)
Footnotes (1)
- Vesting of performance shares awarded in 2023 under the Issuer's long-term incentive plan (the "Plan"). Shares withheld for taxes upon vesting of performance shares. Shares withheld for taxes upon vesting of time-based restricted stock units ("RSUs"). Total includes previous awards under the Plan of (i) 3,139 RSUs vesting in February 2027, (ii) 6,568 RSUs vesting in two equal installments in February 2027 and 2028, and (iii) 13,666 RSUs vesting in three equal installments in February 2027, 2028, and 2029. The above awards shall vest (a) upon continued employment with the Issuer through the respective vesting date, (b) in the event of earlier disability or death, or (c) on a full or pro-rata basis upon earlier retirement, subject to satisfaction of certain conditions. All vesting is conditioned upon achievement of positive operating income for the year preceding the applicable vesting date except in the case of death or disability. Equivalent shares held in CenterPoint Energy, Inc. Savings Plan.
FAQ
What insider transactions did CenterPoint Energy (CNP) report for Jason Michael?
CenterPoint Energy reported that EVP Jason Michael received 69,271 common shares from vested performance awards and had 31,681 shares withheld to pay taxes, resulting in 213,156 directly held shares and 3,838 equivalent shares in the company’s Savings Plan.
Was the CenterPoint Energy (CNP) insider activity a stock purchase or sale?
The activity reflects equity awards and tax withholding, not open-market trades. Jason Michael acquired 69,271 shares through vesting and disposed of 31,681 shares that were automatically withheld to satisfy tax obligations tied to performance shares and restricted stock units.
What conditions apply to Jason Michael’s remaining CenterPoint Energy (CNP) RSU awards?
Remaining RSU awards vest in installments between February 2027 and February 2029. Vesting generally requires continued employment or certain events like disability, death, or qualifying retirement, and depends on achieving positive operating income in the year preceding each vesting date.