Michael James Carlson - 26 Sep 2023 Form 4 Insider Report for STEM, INC. (STEM)

Role
Chief Operating Officer
Signature
/s/ Saul R. Laureles, attorney-in-fact
Issuer symbol
STEM
Transactions as of
26 Sep 2023
Transactions value $
-$7,616
Form type
4
Filing time
28 Sep 2023, 18:15:39 UTC
Previous filing
17 Feb 2023
Next filing
20 Feb 2024
SEC
View on sec.gov

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 +6.09K $0.00 6.09K 26 Sep 2023 Direct F1
transaction STEM Common Stock, Par Value $0.0001 Per Share Sale -$7.62K -1.82K -29.92% $4.18 4.27K 27 Sep 2023 Direct 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 STEM Restricted Stock Unit Options Exercise $0 -6.09K -5.89% $0.00 97.2K 26 Sep 2023 Common Stock, Par Value $0.0001 Per Share 6.09K Direct F1, F3
* 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 September 26, 2022 under the Stem, Inc. 2021 Equity Incentive Plan.
F2 Represent shares required to be sold by the reporting person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units. This sale is mandated by the Issuer's equity incentive plan, which requires the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and does not represent discretionary trades by the Reporting Person.
F3 The RSU award vests in four equal annual installments beginning on September 26, 2023.