Michael C. Morgan - Jun 15, 2023 Form 4 Insider Report for STEM, INC. (STEM)

Role
Director
Signature
/s/ Kathy Medford, Attorney-in-Fact
Stock symbol
STEM
Transactions as of
Jun 15, 2023
Transactions value $
$0
Form type
4
Date filed
6/20/2023, 04:21 PM
Previous filing
Jun 8, 2023
Next filing
Apr 24, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction STEM Common Stock, Par Value $0.0001 Per Share Options Exercise $0 +20.5K $0.00 20.5K Jun 15, 2023 Direct F1
holding STEM Common Stock, Par Value $0.0001 Per Share 1.18M Jun 15, 2023 Held by Portcullis Investments, LP F2
holding STEM Common Stock, Par Value $0.0001 Per Share 50K Jun 15, 2023 Held by Portcullis Partners, LP F3
holding STEM Common Stock, Par Value $0.0001 Per Share 548K Jun 15, 2023 By Trust F4, F5
holding STEM Common Stock, Par Value $0.0001 Per Share 37.5K Jun 15, 2023 By Trust F6
holding STEM Common Stock, Par Value $0.0001 Per Share 37.5K Jun 15, 2023 By Trust F7

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 STEM Restricted Stock Unit Options Exercise $0 -20.5K -46.6% $0.00 23.5K Jun 15, 2023 Common Stock, Par Value $0.0001 Per Share 20.5K Direct F1, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of common stock issued to the reporting person upon vesting of restricted stock units ("RSUs") that were issued to the reporting person on July 28, 2022 under the Stem, Inc. 2021 Equity Incentive Plan.
F2 The reporting person serves as Manager of the general partner, Portcullis G.P., LLC, for, and he and his spouse indirectly hold interests in, Portcullis Investments, L.P. The reporting person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
F3 The reporting person serves as Manager of the general partner, Portcullis G.P., LLC, for, and he and his spouse indirectly hold interests in, Portcullis Partners, L.P. The reporting person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest he may have therein, directly or indirectly.
F4 Includes 5,524 shares previously disclosed as directly owned by the reporting person that were transferred to the trust in June 2022.
F5 Held by a trust of which the reporting person is a trustee.
F6 Held by a family trust (M GST) of which the reporting person is an investment adviser.
F7 Held by a family trust (C GST) of which the reporting person is an investment adviser.
F8 On July 28, 2022, the reporting person was granted 20,498 RSUs vesting 100% on June 15, 2023.