Joshua Dolger - 30 Dec 2025 Form 4 Insider Report for FUELCELL ENERGY INC (FCEL)

Role: General Counsel & Corp Sec
Signature: /s/ Michael S. Bishop, as Power of Attorney
Issuer symbol: FCEL
Transactions as of: 30 Dec 2025
Net transactions value: -$15,554
Form type: 4
Filing time: 02 Jan 2026, 17:16:54 UTC
Previous filing: 15 Dec 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Dolger Joshua	General Counsel & Corp Sec	C/O FUELCELL ENERGY, INC., 3 GREAT PASTURE ROAD, DANBURY	/s/ Michael S. Bishop, as Power of Attorney	02 Jan 2026	0001868593

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FCEL	Common Stock	Options Exercise	$0	+6,250	+84%	$0.000000	13,702	30 Dec 2025	Direct	F1
transaction	FCEL	Common Stock	Tax liability	$15,554	-1,959	-14%	$7.94	11,743	30 Dec 2025	Direct	F2

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 Units	Options Exercise		-6,250	-50%		6,250	30 Dec 2025	Common Stock	6,250		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted stock units convert 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	On December 30, 2024, the reporting person was granted restricted stock units, which vest 1/2 on each of the first two anniversaries of the date of grant, subject to continued employment.