Anthony Leo - Dec 5, 2022 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
Dec 5, 2022
Transactions value $
$0
Form type
4
Date filed
12/7/2022, 04:48 PM
Previous filing
Nov 29, 2022
Next filing
Dec 14, 2022

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 Award $0 +58.6K $0.00 58.6K Dec 5, 2022 Common Stock 58.6K $0.00 Direct F1, F2
transaction FCEL Employee Performance Share Unit Award $0 +58.6K $0.00 58.6K Dec 5, 2022 Common Stock 58.6K $0.00 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit represents a contingent right to receive one share of common stock upon vesting of the Restricted Stock Unit.
F2 On December 05, 2022, 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.
F3 On December 05, 2022, the reporting person was granted performance shares which will be earned based on performance over the three-year performance period beginning on November 1, 2022 and ending October 31, 2025, subject to continued employment until the third anniversary of the grant date. The performance goal is the TSR of the Company relative to the TSR of the Russell 2000 during the performance period. The maximum number of performance shares that can be earned based on performance is two times the target number reported in the table above.