Members' Equity |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Members' Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Members' Equity | Members’ Equity Class A Conversion On April 29, 2026, at Clearway Inc.’s Annual Meeting of Stockholders, Clearway, Inc.’s stockholders approved the Amended Charter, pursuant to which each outstanding share of Clearway, Inc.’s Class A common stock was converted into one share of Clearway Inc.’s Class C common stock, effective May 1, 2026, referred to as the Class A Conversion. As a result of the Class A Conversion, Clearway, Inc. no longer has any Class A common stock. In connection with the Class A Conversion, Clearway, Inc. and CEG entered into a Fifth Amended and Restated Limited Liability Company Agreement of the Company, pursuant to which, effective concurrently with the Class A Conversion, each outstanding Class A unit of the Company was converted into one Class C unit of the Company. As a result of such conversion, the Company no longer has any Class A Units. The conversion of the Company’s Class A Units into Class C Units did not affect the economic interests of the Company’s unit holders, including distribution and liquidation rights. Following such conversion, holders of the Company’s former Class A units converted into Class C units remain entitled to receive distributions, if declared by the Company, on the same basis as prior to the conversion. Direct Stock Purchase Plan, or DSPP As previously disclosed in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2025, Clearway, Inc. maintains a DSPP, pursuant to which it may issue shares of its Class C common stock, including through waiver arrangements. During January 2026, Clearway, Inc. issued 1,445,244 shares of its Class C common stock under the DSPP for gross proceeds of $50 million and incurred fees of less than $1 million, which were exchanged for 1,445,244 of the Company’s Class C units. As of June 30, 2026, 1,061,554 shares of Clearway, Inc.’s Class C common stock remained available for issuance under the DSPP. Distributions The following table lists distributions paid on the Company’s Class A, B, C and D units during the six months ended June 30, 2026:
As a result of the Class A Conversion discussed above, the Company no longer has any Class A units outstanding, and holders of the Company’s former Class A units converted into Class C units remain entitled to receive distributions, if declared by the Company, on the same basis as prior to the conversion. On August 4, 2026, the Company declared a distribution on its Class B, Class C, and Class D units of $0.4750 per unit payable on September 15, 2026 to unit holders of record as of September 1, 2026.
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