Carlson Michael James 4

4 · STEM, INC. · Filed Mar 10, 2026

AI-generated summary of this filing

Updated Mar 11, 2026

STEM (STEM) President Michael Carlson Sells 2,079 Shares

What Happened

Michael Carlson, President, Managed Services at STEM, reported the conversion of 3,541 restricted stock units (RSUs) into common shares on March 7, 2026, and an open-market sale of 2,079 shares on March 10, 2026. The March 10 sale was at $11.12 per share for total gross proceeds of $23,118. A portion of the shares resulting from the March 7 RSU settlement were automatically sold to cover taxes (a sell-to-cover).

Key Details

Transaction dates and prices:
- March 7, 2026: 3,541 RSUs converted into 3,541 shares (one-for-one) (derivative exercise/conversion, code M).
- March 7, 2026: 3,541 shares disposed at $0.00 reflecting tax withholding / sell-to-cover (non-discretionary) (footnote F2).
- March 10, 2026: Open-market sale of 2,079 shares at $11.12 each for $23,118 (code S).
Shares owned after the transactions: not specified in the provided filing details.
Relevant footnotes:
- F1: RSUs converted one-for-one into common shares.
- F2: Shares were automatically sold to cover tax liability on RSU settlement; not a discretionary sale.
- F3: The RSUs were granted May 28, 2024 (10,625 RSUs total); the second installment vested March 7, 2026.
Filing: Reported on March 10, 2026 for transactions on March 7 and March 10; appears timely based on the filing date.

Context

This filing shows an RSU settlement (award conversion) and routine selling activity. The sell-to-cover is administrative/tax-related and not a discretionary trade signal. The separate open-market sale on March 10 generated modest proceeds ($23.1k) and may reflect personal liquidity needs rather than an investment view.

Form 4

Period: 2026-03-07

President, Managed Services

Transactions

Exercise/Conversion
Common Stock, Par Value $0.0001 Per Share
[F1]
2026-03-07+3,541→ 21,537 total
Sale
Common Stock, Par Value $0.0001 Per Share
[F2]
2026-03-10$11.12/sh−2,079$23,118→ 19,458 total
Exercise/Conversion
Restricted Stock Unit
[F1][F3]
2026-03-07−3,541→ 3,516 total
→ Common Stock, Par Value $0.0001 Per Share (3,541 underlying)

Footnotes (3)

[F1]Each restricted stock unit ("RSU") converted into a share of common stock on a one-for-one basis.
[F2]Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of restricted stock units on March 7, 2026. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.
[F3]On May 28, 2024, the reporting person was granted 10,625 RSUs vesting in three near equal annual installments, the second of which vested on March 7, 2026.

Signature

/s/ Sarah Dunn, attorney-in-fact|2026-03-10

1 file