Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock is traded on the NYSE under the symbol “HASI.”
Holders
As of February 9, 2026, we had 166 registered holders of our common stock. The 166 holders of record do not include the beneficial owners of our common stock whose shares are held by a broker or bank. Such information was obtained from The Depository Trust Company.
Dividends
We intend to make regular quarterly distributions to holders of our common stock. Any distributions we make will be at the discretion of our Board and will depend upon, among other things, our actual results of operations. These results and our ability to pay distributions will be affected by various factors, including the net interest and other income from our Portfolio, our operating expenses and any other expenditures. See “Item 1A. Risk Factors”, and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations”, of this Form 10-K, for information regarding the sources of funds used for dividends and for a discussion of factors, if any, which may adversely affect our ability to pay dividends. See Note 11 to our audited financial statements in this Form 10-K for details of our dividends declared in 2025 and 2024.
Stockholder Return Performance
The stock performance graph and table below shall not be deemed, under the Securities Act or the Exchange Act, to be (i) “soliciting material” or “filed” or (ii) incorporated by reference by any general statement into any filing made by us with the SEC, except to the extent that we specifically incorporate such stock performance graph and table by reference.
The following graph is a comparison of the cumulative total stockholder return from December 31, 2020 to December 31, 2025 on shares of our common stock, the Standard & Poor’s 500 Index (the “S&P 500 Index”), and a peer group index, the ALPS Clean Energy ETF. The graph assumes that $100 was invested at closing on December 31, 2020, in our shares of common stock, the S&P 500 Index, and the peer group index and that all dividends were reinvested without the payment of any commissions. There can be no assurance that the performance of our common stock will continue in line with the same or similar trends depicted in the graph below.
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Company or Index 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
HA Sustainable Infrastructure Capital, Inc.
$ 100.00 $ 85.93 $ 48.92 $ 49.79 $ 51.28 $ 63.61
S&P 500 Index 100.00 128.68 105.36 133.03 166.28 195.98
Alps Clean Energy ETF
100.00 80.56 57.66 46.11 33.79 42.39
Sources: Bloomberg L.P.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The table below summarizes all of our repurchases of our common stock during 2025.
Date
Total number
of shares
purchased (1)
Average price
per share
Total number of
shares purchased
as part of publicly
announced plans
or programs
Maximum number
of shares that may
yet be purchased
under the plans or
programs
2/3/2025 615 $ 27.56 N/A N/A
3/5/2025 13,191 28.53 N/A N/A
4/3/2025 462 29.05 N/A N/A
5/15/2025 20,651 28.35 N/A N/A
5/30/2025 568 25.05 N/A N/A
7/10/2025 81 27.67 N/A N/A
8/15/2025 1,511 27.64 N/A N/A
9/2/2025 326 27.73 N/A N/A
11/15/2025 1,239 33.65 N/A N/A
(1) During the year ended December 31, 2025, certain of our employees surrendered shares of our common stock owned by them to satisfy their tax and other compensation related withholdings associated with the vesting of restricted stock and restricted stock units. Non-controlling interest holders exchanged 157,046 OP units for the same number of shares of common stock during the year ended December 31, 2025. The price paid per share is based on the closing price of our common stock as of the date of the exchange and withholding.
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Item 6. [Reserved]
None.