Christopher S. Sotos has been the driving force at Clearway Energy, Inc. since May 2016. Under his leadership, the company has focused on performance-based metrics that align with shareholder interests. Sotos announced on April 30, 2024, that he will step...

Christopher S. Sotos has been the driving force at Clearway Energy, Inc. since May 2016. Under his leadership, the company has focused on performance-based metrics that align with shareholder interests. Sotos announced on April 30, 2024, that he will step down as the President and CEO by June 30, 2024. He will continue to provide advisory services for a couple of months after his departure. Interestingly, his compensation has seen significant fluctuations; for instance, in 2022, he earned over $3.3 million, but by 2023, this dropped to just over $1.2 million, primarily due to a shift towards performance-based bonuses rather than stock awards. Sotos has a strong financial background, secured a consulting agreement worth $33,334 for every two months of service post-CEO role, and has consistently been involved in setting ambitious goals for the company’s cash flow and operations. Sotos built his career at Clearway by emphasizing transparency and alignment with company values, focusing on sustainable energy solutions that resonate with modern demands. His tenure has been characterized by a systematic approach to growth, emphasizing long-term shareholder value, and being adaptable to market changes.

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2. Holdings

3. Insider Trading

4. Compensation History

5. Other Clearway Energy, Inc. CEOs

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Christopher S. Sotos

Ex-CEO of Clearway Energy, Inc.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Utilities

CEO of Clearway Energy, Inc. for

8 years 1 month (May 2016 - Jun 2024)

Previous Experience

Various positions at NRG Energy, Inc., including Executive Vice President - Strategy and Mergers and Acquisitions

Rivals

Competitors/colleagues of Christopher S. Sotos

Holdings

See how much did Christopher S. Sotos make over time.

As of the latest data, Christopher S. Sotos holds a considerable number of shares in Clearway Energy, specifically over 52,266 shares yet to vest, which represent a market value of approximately $1.04 million. Additionally, he has about 133,645 unearned shares...

As of the latest data, Christopher S. Sotos holds a considerable number of shares in Clearway Energy, specifically over 52,266 shares yet to vest, which represent a market value of approximately $1.04 million. Additionally, he has about 133,645 unearned shares linked to continued performance targets, adding another $2.67 million at current valuations. His holdings peaked in 2022 with stock being a significant part of his compensation due to a strong performance year where he earned multiple stock awards. Sotos is required to hold company stock valued at 4.0 times his base salary, which he has recently met with ease, signifying his commitment to the company’s success. The value of Sotos’ equity holdings means a significant portion of his overall wealth is tied to the firm's market performance, showcasing his vested interest in the company’s long-term ambitions.

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Insider Trading

See recent insider trades of Christopher S. Sotos.

No insider trades found for this CEO.

Compensation History

See how much did Christopher S. Sotos make over time.

Christopher S. Sotos’s compensation has changed quite a bit during his leadership at Clearway Energy. In 2023, his total compensation was around $1.2 million, which breaks down into a salary of about $665,201 and a performance-based bonus of $532,161. While he didn’t see stock awards vest in that year, he had a substantial payout in previous years, such as 2022, where he earned over $3.3 million fueled by bonus and vested stock. His compensation plan is designed to closely link pay to the company's performance metrics, specifically focusing on achieving targets for Cash Available for Distribution (CAFD). This strategy not only incentivizes him but aims to boost shareholder value. Notably, Sotos has maintained a consistent salary since 2018 but has seen bonuses fluctuate based on performance outcomes, highlighting the results-oriented approach of his leadership style.

Year

2023

Total Compensation

$1.21M

Salary

$665.20K

Board Justification

The compensation philosophy is designed to align executive pay with performance metrics and shareholder interests, focusing on both short-term and long-term incentives.

Bonus

$532.16K

Board Justification

The annual incentive bonuses paid to the NEOs are based on the achievement of Company goals and individual performance metrics for the year 2023.

Other

$16.89K

Board Justification

Other compensation includes reimbursement for financial advisory services and 401(k) matching contributions.

Restricted Stock

$0.00(0 RSU)

Board Justification

No stock awards were vested in 2023 as the focus was on performance-based compensation and the stock awards are not included in the total compensation calculations.

Performance Metrics

The performance metrics for 2023 included Company goals related to Cash Available for Distribution (CAFD) and key performance milestones.

Other Clearway Energy, Inc. CEOs

Here are other CEOs of Clearway Energy, Inc.

Craig Cornelius

CEO of Clearway Energy, Inc.

April 2024 - Present