AES CORP 4

4 · Fluence Energy, Inc. · Filed May 19, 2026

AI-generated summary of this filing

Updated May 19, 2026

Fluence (FLNC) 10% Owner AES Corp Sells 10.07M Shares

What Happened

AES Grid Stability, LLC (a wholly owned indirect subsidiary of The AES Corporation), a 10% holder of Fluence Energy (FLNC), converted exchangeable OpCo units/Class B-1 shares and disposed of 10,066,414 shares of Fluence common stock on May 15, 2026. The shares were sold at $21.00 each for total proceeds of $211,394,694. A related derivative conversion/cancellation is reported at $0 (reflecting the conversion/cancellation of the underlying LLC units/Class B-1 shares).

Key Details

Transaction date: May 15, 2026; Form 4 filed: May 19, 2026 (filed 4 days after the transaction).
Sale: 10,066,414 shares at $21.00; Proceeds = $211,394,694.
Derivative conversion: 10,066,414 OpCo units/Class B-1 shares were converted/cancelled (reported as conversion of a derivative security).
Shares owned after transaction: Not specified in the filing.
Footnotes: AES Grid Stability exercised a redemption right for the OpCo Units and corresponding cancellation of Class B-1 shares because AES and AES Grid Stability determined to sell those shares in an underwritten offering. OpCo Units and Class B-1 shares are exchangeable at the holder’s discretion for Class A shares on a one-for-one basis (or for cash), subject to conditions.
Filing timeliness: The Form 4 was filed four days after the transaction; Form 4s are normally due within two business days, so this filing appears late.

Context

This is an institutional sale by a 10% owner via a conversion of exchangeable units followed by a disposal; it reflects a financing/offer-related disposition (per footnote), not an individual executive's trading decision. The derivative entries reflect the conversion/redemption of LLC units/Class B-1 shares into the reported Class A shares (and their subsequent sale).

Form 4

Period: 2026-05-15

10% Owner

Transactions

Conversion
Class A Common Stock
[F1][F2]
2026-05-15+10,066,414→ 10,066,414 total(indirect: See footnote)
Sale
Class A Common Stock
[F2]
2026-05-15$21.00/sh−10,066,414$211,394,694→ 0 total(indirect: See footnote)
Conversion
LLC Units of Fluence Energy, LLC
[F2][F3]
2026-05-15−10,066,414→ 41,432,781 total(indirect: See Footnote)
→ Class A Common Stock (10,066,414 underlying)

Footnotes (3)

[F1]On May 15, 2026, AES Grid Stability, LLC ("AES Grid Stability"), a wholly owned, indirect subsidiary of The AES Corporation, exercised its redemption right with respect to 10,066,414 LLC Units of Fluence Energy, LLC ("OpCo Units") together with the corresponding cancellation of 10,066,414 shares of Class B-1 Common Stock of Fluence Energy, Inc. AES Grid Stability exercised such redemption right as a result of AES Grid Stability's and The AES Corporation's determination to sell 10,066,414 shares Class A Common Stock in an underwritten offering.
[F2]The OpCo Units and an equal number of shares of Class B-1 Common Stock, together are exchangeable at the discretion of the holder for, at the Issuer's election, shares of Class A Common Stock on a one-for-one basis or the cash value thereof, subject to certain exceptions, conditions and adjustments, and have no expiration date.
[F3]The OpCo Units are held by AES Grid Stability, LLC, which is a wholly owned subsidiary of The AES Corporation.

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