Snyder Lauren Y 4

What Happened

• Lauren Y. Snyder, Senior Vice President at CMS Energy (CMS), was granted 674 restricted shares as a performance award on 2026-03-26 (acquisition price $0.00). To satisfy tax withholding, 574 of those shares were surrendered/disposed at a reported value of $76.33 per share, totaling $43,813. The remaining net from this award was 100 shares retained by the insider.

Key Details

• Transaction date: 2026-03-26 (filed on 2026-03-30).
• Award: 674 shares granted (code A) at $0.00 per share.
• Withholding/tax disposition: 574 shares disposed (code F) at $76.33 per share for $43,813.
• Net retained from this award: 100 shares.
• Footnotes: F1 — shares were issued because CMS exceeded performance criteria under the 2023 Restricted Stock Award (Performance Incentive Stock Plan). F2 — filing notes an adjustment of 70 additional shares from dividend reinvestment/equivalents related to restricted stock awards.
• Timeliness: Filing was made four days after the transaction; this may be outside the typical two-business-day Form 4 reporting window.

Context

• This was a performance-based restricted stock award (not an open-market purchase). The 574-share disposition was a routine share withholding to cover tax obligations, not an independent sale signal. Performance awards and tax-withholding surrenders are common and do not by themselves indicate management buying or selling stock in the open market.