Anthony Leo - Nov 24, 2023 Form 4 Insider Report for FUELCELL ENERGY INC (FCEL)

Role
EVP & Chief Technology Officer
Signature
/s/ Michael S. Bishop, As Power of Attorney
Stock symbol
FCEL
Transactions as of
Nov 24, 2023
Transactions value $
-$19,126
Form type
4
Date filed
11/28/2023, 04:48 PM
Previous filing
Aug 28, 2023
Next filing
Dec 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FCEL Common Stock Options Exercise $0 +6.05K +9.57% $0.00 69.3K Nov 24, 2023 Direct F1
transaction FCEL Common Stock Tax liability -$2.22K -1.9K -2.74% $1.17 67.4K Nov 24, 2023 Direct F2
transaction FCEL Common Stock Options Exercise $0 +33.7K +50.02% $0.00 101K Nov 24, 2023 Direct F3
transaction FCEL Common Stock Tax liability -$12.4K -10.6K -10.45% $1.17 90.5K Nov 24, 2023 Direct F4
transaction FCEL Common Stock Options Exercise $0 +12.4K +13.69% $0.00 103K Nov 24, 2023 Direct F5
transaction FCEL Common Stock Tax liability -$4.55K -3.89K -3.77% $1.17 99.1K Nov 24, 2023 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FCEL Employee Restricted Stock Unit Options Exercise $0 -6.05K -100% $0.00* 0 Nov 24, 2023 Common Stock 6.05K Direct F1, F6
transaction FCEL Employee Performance Share Unit Options Exercise -33.7K -100% 0 Nov 24, 2023 Common Stock 33.7K Direct F3, F7
transaction FCEL Employee Performance Share Unit Options Exercise -12.4K -100% 0 Nov 24, 2023 Common Stock 12.4K Direct F5, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units were converted into common stock on a one-for-one basis.
F2 Represents shares withheld to satisfy tax obligations upon the vesting of restricted stock units.
F3 Each performance share unit represents the right to receive a single share of common stock, and the number of performance shares that could be earned could range up to two times the reported target number of performance share units (which was 16,855).
F4 Represents shares withheld to satisfy tax obligations upon the vesting of performance share units.
F5 Represents shares issued in settlement of earned performance share units.
F6 On November 24, 2020, the reporting person was granted restricted stock units, which vest 1/3 on each of the first, second and third anniversaries of the date of grant, subject to continued employment.
F7 On November 24, 2020, the reporting person was granted performance shares which were based on performance over the three-year performance period ended October 31, 2023, subject to continued employment until the third anniversary of the grant date (November 24, 2023). The performance goal was an increase in the Company's stock price during the performance period. The maximum number of performance shares that could be earned based on performance was two times the target number previously reported (16,855). The Compensation Committee certified achievement at 200% of the target number, resulting in the award of 33,710 shares.
F8 On November 24, 2020, the reporting person was granted performance shares which were based on performance over the three-year performance period ended October 31, 2023, subject to continued employment until the third anniversary of the grant date (November 24, 2023). The performance goal was the TSR of the Company relative to the TSR of the Russell 2000 Index during the performance period. The Compensation Committee certified achievement at 73.54% of the target number previously reported (16,855), resulting in the award of 12,395 shares.