STEM (STEM) President Michael Carlson Exercises RSUs and Sells Shares

What Happened

• Michael Carlson, President of Managed Services at STEM, had RSUs vest and related share activity around Sept 26–29, 2026. On Sept 26 he recorded the acquisition/exercise of 305 shares at $4.48 per share (total $1,366). The filing also shows a derivative conversion/disposition of 305 shares at $0 (related to RSU vesting). On Sept 29 he sold 146 shares in an open-market sale at $4.67 per share (total $682).

Key Details

• Transaction dates and prices:
  • 2026-09-26: Exercise/conversion (M) — 305 shares acquired @ $4.48 ($1,366).
  • 2026-09-26: Exercise/conversion (M) — 305 shares disposed @ $0 (derivative conversion/settlement).
  • 2026-09-29: Open-market sale (S) — 146 shares sold @ $4.67 ($682).
• Shares owned after the transactions: Not specified in the provided excerpt.
• Footnotes of note:
  • F1: Some shares were automatically sold to cover tax withholding tied to RSU vesting on 9/26/2026; these "sell-to-cover" shares are not discretionary trades.
  • F2: Each RSU equals the right to one share.
  • F3: The RSUs came from a 9/26/2022 grant of 1,217 RSUs that vested in four annual installments; the fourth tranche vested 9/26/2026.
• Filing timeliness: Report filed 2026-09-29 for activity dated 2026-09-26; filing appears to report the recent transactions (no lateness flag provided).

Context

• The activity stems from RSU vesting (non-discretionary conversion/settlement) and a small option/exercise-like acquisition; part of the shares were automatically used to cover taxes ("sell-to-cover"). A portion of shares were sold in the open market a few days later. These are routine insider transactions tied to equity award vesting rather than an explicit market-timing statement.