[Form 4] AES CORP Insider Trading Activity

Rhea-AI Filing Summary

AES Corp President and CEO Andres Gluski reported multiple equity transactions in AES common stock on February 20, 2026. He acquired 144,079 shares through a Restricted Stock Unit award that generally vests in three annual installments beginning February 20, 2027, with each unit delivering one share of common stock.

He also acquired 247,024 shares tied to a Performance Stock Unit award granted in 2023, after the three-year performance period was evaluated and approved on February 20, 2026. To cover tax obligations on vesting RSUs and PSUs, 123,760 shares and 32,896 shares were automatically withheld at a price of $16.51 per share. Following these direct transactions, he held 2,092,274 AES shares, plus 35,047 shares held indirectly through a 401(k) plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gluski Andres

(Last) (First) (Middle)

4300 WILSON BOULEVARD

(Street)

ARLINGTON VA 22203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AES CORP [ AES ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/20/2026		A		144,079(1)	A	$0	2,001,906	D
Common Stock	02/20/2026		A		247,024(2)	A	$0	2,248,930	D
Common Stock	02/20/2026		F		123,760(3)	D	$16.51	2,125,170	D
Common Stock	02/20/2026		F		32,896(4)	D	$16.51	2,092,274	D
Common Stock								35,047(5)	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This Restricted Stock Unit ("RSU") award was granted pursuant to The AES Corporation 2025 Equity and Incentive Compensation Plan and will generally vest in three annual installments on February 20, 2027, February 20, 2028, and February 20, 2029, subject to the reporting person's continued employment with AES on each such date and the terms and conditions of the award. Each RSU entitles the holder to one share of AES Common Stock.

2. This Performance Stock Unit ("PSU") award was granted on February 24, 2023 pursuant to The AES Corporation 2003 Long Term Compensation Plan. After the prescribed three year performance period, the AES Board of Directors approved the performance value for the grant on February 20, 2026. Each earned PSU entitles the holder to one share of AES Common Stock.

3. Reflects automatic tax withholding of shares in connection with the vesting and settlement of PSUs granted on February 24, 2023.

4. Reflects automatic tax withholding of shares in connection with the vesting and settlement of one-third of the RSUs granted on February 22, 2024.

5. Since the last Form 4 filing on February 26, 2025, the reporting person acquired 1,738 additional shares of AES Common Stock pursuant to The AES Corporation Retirement Savings Plan. This information is based on a plan statement dated February 17, 2026.

Remarks:

Exhibit 24.1 Power of Attorney

	/s/ Jennifer V. Gillcrist, attorney-in-fact	02/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did AES (AES) CEO Andres Gluski report on this Form 4?

Andres Gluski reported equity awards and related tax-withholding share dispositions in AES common stock. He received restricted and performance-based stock, while some shares were automatically withheld to satisfy tax liabilities tied to vesting, rather than sold in open-market transactions.

How many AES (AES) shares did the CEO acquire through equity awards?

He acquired 144,079 shares via a Restricted Stock Unit award and 247,024 shares from a Performance Stock Unit award. Each unit entitles him to one share of AES common stock as they vest or are earned under the plan terms.

Were any of the AES (AES) CEO’s transactions open-market sales?

The filing shows no open-market sales. Instead, 123,760 and 32,896 shares were automatically withheld at $16.51 per share to cover exercise price or tax liabilities associated with vesting performance and restricted stock unit awards.

How many AES (AES) shares does Andres Gluski hold after these transactions?

After these transactions, he directly holds 2,092,274 AES common shares. In addition, 35,047 AES shares are held indirectly through The AES Corporation Retirement Savings Plan, as reflected in a plan statement dated February 17, 2026.

What are the vesting terms of the new AES (AES) RSU award to the CEO?

The Restricted Stock Unit award generally vests in three annual installments on February 20, 2027, February 20, 2028, and February 20, 2029. Vesting requires his continued employment with AES on each vesting date under the award’s terms and conditions.

What is the origin of the AES (AES) Performance Stock Unit award in this filing?

The Performance Stock Unit award was originally granted on February 24, 2023 under AES’s long-term compensation plan. After a three-year performance period, AES’s Board approved the performance value on February 20, 2026, earning shares on a one-for-one basis.