Tappin Matthew 4

What Happened

• Matthew Tappin, President, Software Products at STEM, Inc. (STEM), received equity awards and completed a conversion of vested restricted stock units (RSUs). On Feb 26, 2026 he was granted 25,800 RSUs (no cash cost) and 17,200 performance stock units (PSUs) (no cash cost). On Mar 1, 2026, 670 RSUs converted into 670 shares and the filing also reports a same-day disposition of 670 shares at $0.00. The grants and conversions are reported at $0 cash value in the filing.

Key Details

• Transaction dates: Grants on 2026-02-26; conversion/disposition on 2026-03-01. Filing date: 2026-03-02 (appears timely).
• Prices/values: Grants reported at $0.00; conversion and disposition reported at $0.00 (no cash proceeds).
• Shares after transaction: Not specified in the provided excerpt of the filing.
• Relevant footnotes from the filing:
  • F1: RSUs convert one-for-one into common shares.
  • F2: RSUs and PSUs each represent a contingent right to one share.
  • F3: 25,800 RSUs vest in three nearly equal annual installments (33% / 33% / 34%) beginning March 7, 2027.
  • F4: 17,200 PSUs vest only if a 60‑trading‑day VWAP stock price target is met.
  • F5: 670 shares converted on Mar 1, 2026 relate to the final tranche of RSUs granted Mar 1, 2022.
• Filing timeliness: Form 4 filed 2026-03-02 covering Feb 26 and Mar 1 events; this filing date is within the usual two business-day window.

Context

• RSU conversion: Converting RSUs to shares is a routine vesting event (derivative conversion). The filing reports the converted 670 shares and a same-day disposition at $0.00; filings that report $0 proceeds for a disposition frequently reflect shares withheld or surrendered to satisfy tax withholding or similar obligations, though the form does not explicitly state the reason here.
• PSUs are performance-based and only result in shares if the company meets the prescribed VWAP hurdle for the defined period; those shares are not immediately issued unless targets are met.