AES director granted 14,187 stock units

AES CORP director Janet Davidson reported acquiring stock-based awards linked to AES common stock.

Rhea-AI Filing Summary

AES CORP director Janet Davidson reported acquiring stock-based awards linked to AES common stock. On April 29, 2026, she received 12,111 stock units as a grant with no cash price and an additional 2,076 stock units from cash fees she elected to defer at a reference price of $14.45 per unit.

Each stock unit is economically equivalent to one share of AES common stock and will be settled in shares after she leaves the Board, in line with her elections under The AES Corporation 2025 Equity and Incentive Compensation Plan. Following these awards, her reported direct holdings in these units exceed 90,000 units, reflecting routine director compensation and fee deferrals rather than open-market trading.

Insider Trade Summary

Grant/Award: 14,187 shares

Grant/Award 2 txns

Insider DAVIDSON JANET

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Units	2,076	$14.45	$30K
Grant/Award	Units	12,111	$0.00	$0.00

Holdings After Transaction: Units — 105,358 contracts (Direct)

Footnotes (2)

1. F1. Each stock unit is the economic equivalent of one share of AES Common Stock. These units will be settled for shares of AES Common Stock after the date the reporting person terminates service on the Board in accordance with the Director's election form under The AES Corporation 2025 Equity and Incentive Compensation Plan.
2. F2. Represents cash fees that the reporting person elected to defer into stock units.

Key Figures

Stock units granted: 12,111 units Deferred fee units: 2,076 units Reference price for deferred fees: $14.45 per unit +3 more

6 metrics

Stock units granted 12,111 units Grant of units on April 29, 2026

Deferred fee units 2,076 units Cash fees deferred into units on April 29, 2026

Reference price for deferred fees $14.45 per unit Conversion of director cash fees into stock units

Holdings after larger grant 105,358 units Units reported following 12,111-unit grant

Holdings after deferred fee award 93,247 units Units reported following 2,076-unit fee deferral

Economic equivalence 1 unit = 1 share Each stock unit equals one AES common share economically

Key Terms

stock unit, The AES Corporation 2025 Equity and Incentive Compensation Plan, cash fees that the reporting person elected to defer

3 terms

stock unit financial

"Each stock unit is the economic equivalent of one share of AES Common Stock."

The AES Corporation 2025 Equity and Incentive Compensation Plan financial

"in accordance with the Director's election form under The AES Corporation 2025 Equity and Incentive Compensation Plan."

cash fees that the reporting person elected to defer financial

"Represents cash fees that the reporting person elected to defer into stock units."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did AES (AES) director Janet Davidson report?

Janet Davidson reported acquiring stock-based awards tied to AES common stock. She received 12,111 stock units as a grant and 2,076 additional units from deferred cash fees, all as routine director compensation rather than open-market buying or selling.

How many AES (AES) stock units did Janet Davidson receive in total?

Davidson received 14,187 AES-linked stock units in this Form 4. This includes 12,111 units granted at no cash cost and 2,076 units created by deferring director cash fees into stock units under AES’s 2025 Equity and Incentive Compensation Plan.

What are the AES (AES) stock units reported by Janet Davidson?

The reported AES stock units are bookkeeping entries economically equal to one share of AES common stock. They will be settled in actual AES shares after Davidson’s Board service ends, according to her election under The AES Corporation 2025 Equity and Incentive Compensation Plan.

Did Janet Davidson buy or sell AES (AES) shares on the market?

The filing shows no open-market buying or selling by Davidson. Instead, it reports stock units granted as director compensation and units created from deferring cash fees, all under AES’s equity and incentive compensation framework rather than market trades.

When will Janet Davidson’s AES (AES) stock units be settled into shares?

The stock units will be settled for AES common shares after Davidson terminates service on the Board. Settlement timing follows her elections under The AES Corporation 2025 Equity and Incentive Compensation Plan, meaning delivery occurs only after her Board tenure ends.

What does the $14.45 price mean in Janet Davidson’s AES (AES) Form 4?

The $14.45 figure is a reference price for 2,076 stock units created from deferred director cash fees. It reflects the cash fee amount converted into units, not an open-market purchase price, and is part of AES’s director compensation structure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/01/2026 - 04:12 PM EDT Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

DAVIDSON JANET

(Last) (First) (Middle)

4300 WILSON BLVD.

(Street)

ARLINGTON VIRGINIA 22203

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

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

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

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

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

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
Units	(1)	04/29/2026		A		2,076(2)		(1)	(1)	Common Stock	2,076	$14.45(2)	93,247	D
Units	(1)	04/29/2026		A		12,111		(1)	(1)	Common Stock	12,111	$0	105,358	D

Explanation of Responses:

1. Each stock unit is the economic equivalent of one share of AES Common Stock. These units will be settled for shares of AES Common Stock after the date the reporting person terminates service on the Board in accordance with the Director's election form under The AES Corporation 2025 Equity and Incentive Compensation Plan.

2. Represents cash fees that the reporting person elected to defer into stock units.

Remarks:

Exhibit 24.1 Power of Attorney

	/s/ Jennifer Gillcrist, Attorney-in-fact	05/01/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)