Laureles Saul R. 4

What Happened

• Saul R. Laureles, Chief Legal Officer of STEM, Inc. (STEM), received equity awards and had previously granted restricted stock units (RSUs) convert into shares. On February 26, 2026, Laureles was granted 18,000 RSUs (no cash price) and 12,000 performance stock units (PSUs) (no cash price). On March 1, 2026, 904 RSUs converted into 904 shares of common stock; the same filing shows a matching disposition of 904 shares reported at $0.00. The February grants are recorded at $0.00 (typical for equity awards), so no cash purchase price was paid.

Key Details

• Filing: Form 4 filed March 2, 2026; Period of report: February 26, 2026.
• Grants (acquisitions): 18,000 RSUs (granted 2/26/2026; vest ~33%/33%/34% annually beginning March 7, 2027) and 12,000 PSUs (granted 2/26/2026; vest upon meeting VWAP-based stock-price performance targets over any consecutive 60 trading days).
• Conversion/disposition (derivative): 904 RSUs converted to 904 shares on March 1, 2026 (one-for-one conversion); the filing also reports a same-day disposition of 904 shares at $0.00.
• Shares owned after transaction: not specified in the excerpt of the filing provided.
• Notable footnotes: RSUs convert one-for-one to common stock; PSUs are contingent on achieving a VWAP price target; 904 shares correspond to the fourth installment of a 3,617 RSU grant from March 1, 2022 that vested in four near-equal installments (the fourth vested 3/1/2026).

Context

• RSUs and PSUs are award-type derivatives (A) representing contingent rights to future shares; conversion means the RSUs became actual common shares. The reported disposition at $0.00 is recorded in the filing but the form does not state the reason; such zero-dollar dispositions are often associated with net share settlement or tax withholding rather than an open-market sale. The grants (18k RSUs and 12k PSUs) are acquisitions/awards and are typically considered non-cash compensation rather than purchases.