AES CORP - 08 Dec 2023 Form 4 Insider Report for Fluence Energy, Inc. (FLNC)

Role
10%+ Owner
Signature
/s/ The AES Corporation, By: Paul Freedman, Executive Vice President, General Counsel, and Corporate Secretary
Issuer symbol
FLNC
Transactions as of
08 Dec 2023
Net transactions value
-$156,279,375
Form type
4
Filing time
12 Dec 2023, 16:06:51 UTC
Previous filing
07 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FLNC Class A Common Stock Conversion of derivative security +7,087,500 7,087,500 08 Dec 2023 See footnote F1, F2
transaction FLNC Class A Common Stock Sale $156,279,375 -7,087,500 -100% $22.05 0 08 Dec 2023 See footnote 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 FLNC LLC Units of Fluence Energy, LLC Conversion of derivative security $0 -7,087,500 -12% $0.000000 51,499,195 08 Dec 2023 Class A Common Stock 7,087,500 See Footnote F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 8, 2023, AES Grid Stability, LLC ("AES Grid Stability"), a wholly owned, indirect subsidiary of The AES Corporation, exercised its redemption right with respect to 7,087,500 LLC Units of Fluence Energy, LLC ("OpCo Units") together with the corresponding cancellation of 7,087,500 shares of Class B-1 Common Stock of Fluence Energy, Inc. AES Grid Stability exercised such redemption right as a result of AES Grid Stability's and The AES Corporation's determination to sell 7,087,500 shares Class A Common Stock in an underwritten offering.
F2 The OpCo Units and an equal number of shares of Class B-1 Common Stock, together are exchangeable at the discretion of the holder for, at the Issuer's election, shares of Class A Common Stock on a one-for-one basis or the cash value thereof, subject to certain exceptions, conditions and adjustments, and have no expiration date.
F3 The OpCo Units are held by AES Grid Stability, LLC, which is a wholly owned subsidiary of The AES Corporation.