Director Naim receives stock unit awards at AES Corp (NYSE: AES)

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

AES CORP director Moises Naim received stock-based compensation awards in the form of stock units. On April 29, 2026, he acquired 12,111 stock units, each economically equivalent to one share of AES common stock, under The AES Corporation 2025 Equity and Incentive Compensation Plan.

He also acquired 6,920 additional stock units corresponding to cash fees he elected to defer, at a reference value of $14.45 per unit. These stock units will be settled in AES common shares after he terminates service on the Board, according to his election form.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Naim Moises

Role null

Type	Security	Shares	Price	Value
Grant/Award	Units	6,920	$14.45	$100K
Grant/Award	Units	12,111	$0.00	--

Holdings After Transaction: Units — 218,738 shares (Direct, null)

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

Key Figures

Equity award units: 12,111 units Deferred fee units: 6,920 units Reference value per deferred unit: $14.45 per unit +2 more

5 metrics

Equity award units 12,111 units Stock units granted under 2025 Equity and Incentive Compensation Plan on April 29, 2026

Deferred fee units 6,920 units Stock units from cash fees deferred into stock units on April 29, 2026

Reference value per deferred unit $14.45 per unit Price per stock unit for 6,920-unit deferred fee award

Holdings after 12,111-unit grant 230,849 units Total derivative units following the 12,111-unit award

Holdings after 6,920-unit grant 218,738 units Total derivative units following the 6,920-unit deferred fee award

Key Terms

stock unit, The AES Corporation 2025 Equity and Incentive Compensation Plan, economic equivalent, cash fees

4 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."

economic equivalent financial

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

cash fees financial

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

Form 4 Insider Transactions: What Each Field Means →

05/01/2026 - 04:19 PM

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^*

Naim Moises

(Last)

(First)

(Middle)

4300 WILSON BOULEVARD

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Units	⁽¹⁾	04/29/2026		A		6,920⁽²⁾		⁽¹⁾	⁽¹⁾	Common Stock	6,920	$14.45⁽²⁾	218,738	D
Units	⁽¹⁾	04/29/2026		A		12,111		⁽¹⁾	⁽¹⁾	Common Stock	12,111	$0	230,849	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Moises Naim report for AES (AES)?

Moises Naim reported receiving stock unit awards as director compensation at AES CORP. He acquired 12,111 stock units under the 2025 Equity and Incentive Compensation Plan and 6,920 additional units from deferred cash fees, all economically equivalent to AES common shares.

How many AES stock units did Moises Naim acquire in this Form 4?

Moises Naim acquired two blocks of AES stock units: 12,111 units granted under the 2025 equity plan and 6,920 units from deferred cash fees. Each unit represents the economic equivalent of one AES common share, to be settled in stock at a later date.

Are Moises Naim’s AES (AES) Form 4 transactions open-market purchases?

No, these are not open-market purchases. The Form 4 shows compensation-related acquisitions coded as grants (A), including equity awards and cash fees deferred into stock units, rather than discretionary buying or selling of AES common stock on the open market.

When will Moises Naim’s AES stock units from this filing be settled?

The stock units will be settled in AES common shares after Moises Naim terminates his service on the Board. Settlement timing follows his election form under The AES Corporation 2025 Equity and Incentive Compensation Plan, rather than occurring immediately at grant.

What is the economic value basis of the 6,920 AES stock units reported?

The 6,920 AES stock units represent cash director fees that Naim elected to defer into stock units at a reference value of $14.45 per unit. This converts cash compensation into equity-linked units equivalent in value to AES common shares.