secwatch.observer — SEC 8-K summary
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Issuer:     Clearway Energy LLC (—)
CIK:        0001637757
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001104659-24-054964
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clearway Energy CEO Chris Sotos to depart June 30; Craig Cornelius appointed, 2024 CAFD guidance reaffirmed at $395M
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- Chris Sotos will step down as President and CEO of Clearway Energy, Inc. effective June 30, 2024.
- Craig Cornelius, current CEO of sponsor Clearway Energy Group, will succeed Sotos as CEO and join the board on June 30.
- Company reaffirms 2024 CAFD guidance of $395 million and 5-8% annual dividend growth target through 2026.
- Separation agreement includes waiver of non-compete, pro-rata 2024 bonus, and up to $20k expense reimbursement.
- Cornelius Employment Agreement: base salary $750k, target bonus 175% of salary, LTIP target 350% of salary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637757/000110465924054964/0001104659-24-054964-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637757/000110465924054964/tm2413071d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-054964

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer