[Form 4] AES CORP Insider Trading Activity

Rhea-AI Filing Summary

AES Corp filed a Form 4 reporting an automatic share withholding by its EVP and President, Energy Infrastructure, on 11/19/2025. The executive had 7,121 shares of common stock withheld at a price of $13.77 per share to cover taxes due on the vesting and settlement of 50% of Restricted Stock Units originally granted on November 19, 2021. Following this tax withholding transaction, the officer beneficially owns 188,445 shares of AES common stock.

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^*

Rubiolo Juan Ignacio

(Last) (First) (Middle)

4300 WILSON BLVD.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Pres., Energy Infrast.

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

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	11/19/2025		F		7,121(1)	D	$13.77	188,445	D

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. Reflects automatic tax withholding of shares in connection with the vesting and settlement of 50% of the Restricted Stock Units granted on November 19, 2021.

Remarks:

Exhibit 24.1 Power of Attorney

	/s/ Jennifer Gillcrist, attorney-in-fact	11/20/2025
	** 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.

FAQ

What did AES (AES) disclose in this Form 4 filing?

AES disclosed that a senior officer had 7,121 shares of common stock automatically withheld on 11/19/2025 to cover taxes on vesting Restricted Stock Units.

Who is the reporting person in this AES Form 4?

The reporting person is an Officer of AES Corp, serving as EVP and President, Energy Infrastructure, and is reporting personal holdings in AES common stock.

What type of transaction is reported in the AES Form 4?

The Form 4 reports an automatic tax withholding of shares, coded as transaction type F, related to the vesting and settlement of Restricted Stock Units granted on November 19, 2021.

How many AES shares were withheld and at what price?

A total of 7,121 shares of AES common stock were withheld at a price of $13.77 per share in connection with tax obligations on the RSU vesting.

How many AES shares does the officer own after this transaction?

After the reported tax withholding transaction, the officer beneficially owns 188,445 shares of AES common stock, held in direct ownership form.

What is the reason for the AES share withholding mentioned in the Form 4?

The withheld shares reflect automatic tax withholding triggered by the vesting and settlement of 50% of the Restricted Stock Units granted on November 19, 2021.

Does this AES Form 4 indicate a discretionary sale by the executive?

No. The filing specifies that the 7,121 shares were withheld for tax purposes in connection with RSU vesting, rather than an open-market sale initiated by the executive.