Tappin Matthew 4
4 · STEM, INC. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
STEM President Matthew Tappin Exercises PSUs, Sells 996 Shares
What Happened
Matthew Tappin, President, Software Products at STEM, exercised/converted derivative awards and settled vested performance stock units (PSUs). On June 30, 2026 he recorded acquisitions of 5,000 shares (@ $7.81, $39,050) and 2,750 shares (@ $7.81, $21,478) — a total acquisition cost of $60,528. The filing also shows PSUs settled on June 30 (2,750 and 5,000 shares reported with $0 proceeds) and an open-market sale on July 2, 2026 of 996 shares at $7.85 for $7,819. Footnotes indicate the $0 disposals were automatic "sell to cover" transactions to satisfy tax withholding and were not discretionary.
Key Details
- Transaction dates/prices: 6/30/2026 conversions/exercises at $7.81 (5,000 and 2,750 shares); 6/30/2026 PSU settlements (2,750 and 5,000 shares, $0, sell-to-cover); 7/02/2026 open-market sale of 996 sh @ $7.85 for $7,819.
- Vested PSUs: 7,750 PSUs vested (2,750 from a 6/30/2025 grant; 5,000 from a 7/28/2025 grant) and were settled on 6/30/2026 per footnotes.
- Tax withholding: Some shares were automatically sold to cover taxes on PSU settlement (footnote F1); this is not a discretionary sale.
- Shares owned after the transactions: Not stated in the filing.
- Filing timeliness: Report filed 2026-07-02; timeliness flagged as late (code L).
Context
PSUs are performance-based awards that convert to common stock only if a performance metric is met; here the PSUs vested after the Company achieved the stated performance metric. The filing combines derivative exercises/conversions and PSU settlement; automatic sell-to-cover is a common post-vesting tax-withholding mechanic and differs from a discretionary insider sale. The open-market sale of 996 shares is a separate disposal and generated ~$7.8K in proceeds.
Insider Transaction Report
- Exercise/Conversion
Common Stock, Par Value $0.0001 Per Share
2026-06-30$7.81/sh+5,000$39,050→ 7,823 total - Exercise/Conversion
Common Stock, Par Value $0.0001 Per Share
2026-06-30$7.81/sh+2,750$21,478→ 10,573 total - Sale
Common Stock, Par Value $0.0001 Per Share
[F1]2026-07-02$7.85/sh−996$7,819→ 9,577 total - Exercise/Conversion
Performance Stock Unit
[F2][F3]2026-06-30−2,750→ 2,750 total→ Common Stock, Par Value $0.0001 Per Share (2,750 underlying) - Exercise/Conversion
Performance Stock Unit
[F2][F4]2026-06-30−5,000→ 5,000 total→ Common Stock, Par Value $0.0001 Per Share (5,000 underlying)
Footnotes (4)
- [F1]Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of PSUs on June 30, 2026. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.
- [F2]Each performance stock unit ("PSU") represented a contingent right to receive one share of the Issuer's common stock if the volume-weighted average price of the Issuer's common stock for any consecutive sixty (60) trading-day period equaled or exceeded $17.60 (the "Performance Metric") during a performance period ending on June 30, 2028 (the "Performance Period").
- [F3]On June 30, 2025, the Reporting Person was granted 5,500 PSUs, 2,750 of which vested on June 30, 2026 following the Issuer's achievement of the Performance Metric during the Performance Period.
- [F4]On July 28, 2025, the Reporting Person was granted 10,000 PSUs, 5,000 of which vested on June 30, 2026 following the Issuer's achievement of the Performance Metric during the Performance Period.