Glen Griffiths - 15 Feb 2022 Form 4 Insider Report for Bloom Energy Corp (BE)

Role
EVP, Services
Signature
/s/ Shawn M. Soderberg, as attorney-in-fact
Issuer symbol
BE
Transactions as of
15 Feb 2022
Net transactions value
-$120,663
Form type
4
Filing time
17 Feb 2022, 19:38:34 UTC
Previous filing
02 Feb 2022
Next filing
02 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BE Class A Common Stock Options Exercise $0 +1,934 +1.7% $0.000000 118,060 15 Feb 2022 Direct
transaction BE Class A Common Stock Options Exercise $0 +14,700 +12% $0.000000 132,760 15 Feb 2022 Direct
transaction BE Class A Common Stock Sale $120,663 -6,143 -4.6% $19.64 126,617 16 Feb 2022 Direct F1, 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 BE Restricted Stock Units Options Exercise $0 -1,934 -20% $0.000000 7,737 15 Feb 2022 Class A Common Stock 1,934 Direct F3, F4
transaction BE Performance Stock Units Options Exercise $0 -14,700 -50% $0.000000 14,700 15 Feb 2022 Class A Common Stock 14,700 Direct F5, F6
transaction BE Performance Stock Units Award $0 +18,190 $0.000000 18,190 16 Feb 2022 Class A Common Stock 18,190 Direct F5, F7
transaction BE Performance Stock Units Award $0 +27,000 $0.000000 27,000 16 Feb 2022 Class A Common Stock 27,000 Direct F5, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Sale of shares to cover tax withholding obligation incurred upon settlement of restricted stock units ("RSUs") and performance-based stock units ("PSUs") effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
F2 The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $19.25 to $20.07. Upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
F3 Each RSU represents a contingent right to receive one (1) share of the Class A Common Stock of the Issuer upon settlement.
F4 The RSUs vest as to 25% of the shares on the one-year anniversary of February 15, 2019 and the remaining shares shall vest in equal quarterly increments from such one-year anniversary over the next three years, subject to the Reporting Person's continued service with the Issuer through each vesting date.
F5 Each PSU represents a contingent right to receive one (1) share of the Class A Common Stock of the Issuer upon settlement.
F6 On June 12, 2020, the Reporting Person was granted a PSU award for a target number of 30,000 shares of Class A common stock, subject to the achievement of certain financial performance criteria during the performance period. The Reporting Person fully met the performance criteria as determined by the Compensation Committee on February 11, 2021, which resulted in a payout of 1.47 times the target. The PSUs shall vest annually over three (3) years, with a third of the PSU vesting on February 15, 2021, another third on February 15, 2022 and the remaining third on February 15, 2023, subject to Reporting Person remaining a service provider on each applicable vesting date.
F7 On February 11, 2021, the Reporting Person was granted a PSU award for a target number of 24,253 shares of Class A common stock, subject to the achievement of certain financial performance criteria during the performance period. The Reporting Person partially met the performance criteria as determined by the Compensation Committee on February 16, 2022, which resulted in a payout of 75% of the target. The PSUs shall vest annually over three (3) years, with a third of the PSUs vesting on March 15, 2022, another third on March 15, 2023 and the remaining third on March 15, 2024, subject to Reporting Person remaining a service provider on each applicable vesting date. Vested shares will be delivered to the Reporting Person beginning on or about January 1, 2026 pursuant to the terms of the Bloom Energy Corporation 2021 Deferred Compensation Plan.
F8 On February 11, 2021, the Reporting Person was granted a PSU award for a target number of 45,000 shares of Class A common stock, subject to the achievement of certain financial performance criteria during the performance period related to the services business. The Reporting Person fully met the performance criteria for the first performance period relating to 15,000 shares as determined by the Compensation Committee on February 16, 2022, which resulted in a payout of 1.8 times the target. The first tranche shall vest on March 15, 2022, subject to Reporting Person remaining a service provider on each applicable vesting date. Vested shares will be delivered to the Reporting Person beginning on or about January 1, 2026 pursuant to the terms of the Bloom Energy Corporation 2021 Deferred Compensation Plan.