Achanta Shankar 4

What Happened
Achanta Shankar, EVP & Chief Product & Technology Officer of FuelCell Energy (FCEL), had 2,020 restricted stock units convert into common shares on May 8, 2026 (reported on Form 4 filed May 12, 2026). The conversion shows 2,020 shares acquired at $0.00 (RSU conversion). To satisfy tax withholding obligations, 492 of those shares were withheld/disposed at an attributable value of $13.70 per share, totaling $6,740. The net shares delivered to Shankar were 1,528 (2,020 - 492). This is a routine vesting/conversion event (not an open-market purchase or sale).

Key Details

• Transaction date: May 8, 2026; Form 4 filed May 12, 2026 (filed within the required two business days).
• Acquisition: 2,020 shares via conversion of restricted stock units (derivative code M) at $0.00.
• Tax withholding: 492 shares withheld (disposition code F) at $13.70 per share = $6,740.
• Net shares received: 1,528 shares.
• Footnotes: F1—RSUs convert one-for-one into common stock; F2—shares were withheld to satisfy tax obligations; F3—the RSUs were granted May 8, 2024 and vest 1/3 on each of the first three anniversaries, subject to continued employment.
• Shares owned after the transaction: not specified in the information provided.
• Filing timeliness: Report appears timely (filed May 12 for May 8 transaction).

Context
This was a vesting/conversion of restricted stock units, not an open-market buy or sell. The withholding of shares to cover taxes is a common cashless mechanism and should not be interpreted as a market sale for investment sentiment. The RSUs were originally granted May 8, 2024 and vest in thirds on annual anniversaries; this appears to be a scheduled vesting event (routine compensation).