KOEPPEL HOLLY K 4

What Happened Holly K. Koeppel, a director of AES Corporation (AES), received a grant of 12,111 stock units on April 29, 2026. The filing shows an acquisition price of $0.00 (derivative award), so no cash was paid by the director. These stock units are economic equivalents of AES common shares and will be settled for shares after Koeppel leaves the Board under the terms of The AES Corporation 2025 Equity and Incentive Compensation Plan.

Key Details

• Transaction date and type: 2026-04-29 — Award/Grant (transaction code A).
• Amount and price: 12,111 stock units granted at $0.00 (reported value $0 on the Form 4).
• Shares owned following transaction: not specified in this filing.
• Footnote: F1 — each stock unit equals one share and will be settled for AES common stock after the reporting person terminates Board service per the director election form under the 2025 plan.
• Filing timeliness: Report filed 2026-05-01 for a 2026-04-29 transaction; appears to be timely.
• Exhibit included: Exhibit 24.1 Power of Attorney (per remarks).

Context This was a derivative grant (stock units) as part of director compensation, not an open-market purchase or sale. Such awards are common for board members and represent deferred equity compensation; they do not necessarily signal the director’s near-term trading intent. The units will convert to actual shares only when settled according to the plan (here, after board service ends).