Aes Corp - Dec 8, 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
Stock symbol
FLNC
Transactions as of
Dec 8, 2023
Transactions value $
-$156,279,375
Form type
4
Date filed
12/12/2023, 04:06 PM
Previous filing
Feb 7, 2022

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 +7.09M 7.09M Dec 8, 2023 See footnote F1, F2
transaction FLNC Class A Common Stock Sale -$156M -7.09M -100% $22.05 0 Dec 8, 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 -7.09M -12.1% $0.00 51.5M Dec 8, 2023 Class A Common Stock 7.09M 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.