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AES (NYSE: AES) EVP withholds shares to cover RSU tax obligations

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

AES CORP executive Paul L. Freedman reported a tax-related share disposition. On February 24, 2026, 1,388 shares of AES common stock were automatically withheld at $16.27 per share to cover taxes tied to the vesting of Restricted Stock Units granted on February 24, 2023.

After this withholding, Freedman directly held 178,671 AES common shares. He also indirectly held 3,130 shares through The AES Corporation Retirement Savings Plan, based on a plan statement dated February 25, 2026, with no additional shares acquired in that plan since his prior Form 4.

Positive

  • None.

Negative

  • None.

Insights

Routine tax withholding on RSU vesting; not an open-market sale.

The filing shows 1,388 AES CORP common shares withheld at $16.27 per share to satisfy tax obligations when a portion of Restricted Stock Units vested from a grant dated February 24, 2023. Code F indicates payment of tax liability using shares rather than cash.

Following this event, Paul L. Freedman directly held 178,671 shares and indirectly held 3,130 shares via the company retirement savings plan as of a February 25, 2026 statement. This type of transaction is typically administrative and does not signal discretionary buying or selling behavior.

Insider Freedman Paul L
Role EVP, GC and Corp. Secretary
Type Security Shares Price Value
Tax Withholding Common Stock 1,388 $16.27 $23K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 178,671 shares (Direct); Common Stock — 3,130 shares (Indirect, By 401(k) Plan)
Footnotes (1)
  1. Reflects automatic tax withholding of shares in connection with the vesting and settlement of one-third of the Restricted Stock Units granted on February 24, 2023. Since the last Form 4 filing on February 24, 2026, the reporting person acquired no additional shares of AES Common Stock pursuant to The AES Corporation Retirement Savings Plan. This information is based on a plan statement dated February 25, 2026.
Form 4 Insider Transactions: What Each Field Means →
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*
Freedman Paul L
(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, GC and Corp. Secretary
3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026
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 02/24/2026 F 1,388(1) D $16.27 178,671 D
Common Stock 3,130(2) 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. Reflects automatic tax withholding of shares in connection with the vesting and settlement of one-third of the Restricted Stock Units granted on February 24, 2023.
2. Since the last Form 4 filing on February 24, 2026, the reporting person acquired no additional shares of AES Common Stock pursuant to The AES Corporation Retirement Savings Plan. This information is based on a plan statement dated February 25, 2026.
/s/ Paul L. Freedman 02/26/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did AES (AES) executive Paul L. Freedman report in this Form 4?

Paul L. Freedman reported an automatic tax withholding of 1,388 AES common shares at $16.27 per share on February 24, 2026. The shares covered taxes from vesting Restricted Stock Units originally granted on February 24, 2023, rather than an open-market sale.

Was the AES (AES) Form 4 transaction an open-market sale of shares?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. 1,388 shares were automatically withheld to satisfy tax obligations tied to the vesting and settlement of Restricted Stock Units granted on February 24, 2023, per the filing footnote.

How many AES (AES) shares does Paul L. Freedman hold after this transaction?

After the tax withholding, Paul L. Freedman directly held 178,671 AES common shares. He also indirectly held 3,130 additional shares through The AES Corporation Retirement Savings Plan, based on a plan statement dated February 25, 2026, as disclosed in the Form 4 footnotes.

What was the price used for the AES (AES) tax-withholding shares?

The tax-withholding disposition used a price of $16.27 per AES common share for the 1,388 shares withheld. This price is used to value the shares applied against the executive’s tax liability on the vesting Restricted Stock Units noted in the Form 4.

What do the AES (AES) Form 4 footnotes say about the 401(k) holdings?

The footnotes state that since the last Form 4 on February 24, 2026, Paul L. Freedman acquired no additional AES shares through The AES Corporation Retirement Savings Plan. The 3,130 indirect shares are based on a plan statement dated February 25, 2026.

How is the AES (AES) Form 4 transaction coded and what does it mean?

The transaction is coded F, meaning shares were used to pay exercise price or tax liability. In this case, it reflects automatic withholding of 1,388 AES shares to cover taxes when one-third of a February 24, 2023 Restricted Stock Unit grant vested.