FuelCell Energy (NASDAQ: FCEL) director granted 17,424 deferred stock units

Rhea-AI Filing Summary

Hansen Cynthia L reported acquisition or exercise transactions in this Form 4 filing.

FuelCell Energy, Inc. director Cynthia L. Hansen received a grant of 17,424 Deferred Common Stock Units on April 8, 2026 as part of the company’s Directors Deferred Compensation Plan. Each unit represents one share of common stock, payable after she separates from service as a director.

Following this award, Hansen directly holds 60,253 Deferred Common Stock Units tied to FuelCell Energy common stock. This is a compensation-related, non-cash equity grant rather than an open-market stock purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Hansen Cynthia L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Common Stock Units	17,424	$0.00	--

Holdings After Transaction: Deferred Common Stock Units — 60,253 shares (Direct)

Footnotes (1)

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Key Figures

Deferred stock units granted: 17,424 units Total deferred units after grant: 60,253 units Transaction price per unit: $0.0000 +3 more

6 metrics

Deferred stock units granted 17,424 units Grant to director on April 8, 2026

Total deferred units after grant 60,253 units Director’s holdings following transaction

Transaction price per unit $0.0000 Non-cash equity award under compensation plan

Underlying common stock 17,424 shares One share of common stock per deferred unit

Transaction code A Grant, award, or other acquisition of derivative units

Derivative transactions in filing 1 Single reported derivative acquisition event

Key Terms

Deferred Common Stock Units, Directors Deferred Compensation Plan, separation from service as a director, Grant, award, or other acquisition, +1 more

5 terms

Deferred Common Stock Units financial

"Deferred common stock units issued to the reporting person pursuant to the FuelCell Energy, Inc. Directors Deferred Compensation Plan."

Deferred common stock units are promises to deliver company shares or cash tied to the company’s stock value at a later date, typically used as part of employee or executive pay. Think of them like a paycheck you elect to receive in company stock at a future date; they can affect the number of shares outstanding and company expenses, so investors watch them for potential dilution and to understand management’s incentives.

Directors Deferred Compensation Plan financial

"issued to the reporting person pursuant to the FuelCell Energy, Inc. Directors Deferred Compensation Plan."

A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.

separation from service as a director financial

"payable to the reporting person, on a one-for-one basis ... upon separation from service as a director."

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

underlying security financial

"underlying_security_title: Common Stock"

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^*

Hansen Cynthia L

(Last) (First) (Middle)

C/O FUELCELL ENERGY, INC.

3 GREAT PASTURE ROAD

(Street)

DANBURY CONNECTICUT 06810

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FUELCELL ENERGY INC [ FCEL ]

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)
04/08/2026

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
Deferred Common Stock Units	(1)	04/08/2026		A		17,424		(1)	(1)	Common Stock	17,424	$0	60,253	D

Explanation of Responses:

1. Deferred common stock units issued to the reporting person pursuant to the FuelCell Energy, Inc. Directors Deferred Compensation Plan. In accordance with elections made by the reporting person under the Directors Deferred Compensation Plan, the shares of common stock underlying the common stock units are payable to the reporting person, on a one-for-one basis (i.e., one share of common stock for each common stock unit), upon separation from service as a director.

	/s/ Michael S. Bishop, As Power of Attorney	04/10/2026
	** 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)

FAQ

What insider transaction did FuelCell Energy (FCEL) report for Cynthia L. Hansen?

FuelCell Energy reported that director Cynthia L. Hansen received an award of 17,424 Deferred Common Stock Units. These units are a form of equity compensation, not an open-market stock purchase or sale, and are tied directly to FuelCell Energy common stock.

How many FuelCell Energy (FCEL) deferred units does Cynthia L. Hansen hold after this Form 4?

After the reported grant, Cynthia L. Hansen directly holds 60,253 Deferred Common Stock Units. Each unit is linked to one share of FuelCell Energy common stock, reflecting her accumulated equity-based director compensation under the company’s deferred compensation program.

What are Deferred Common Stock Units in FuelCell Energy’s (FCEL) director plan?

FuelCell Energy’s Deferred Common Stock Units are equity awards issued under the Directors Deferred Compensation Plan. Each unit corresponds to one share of common stock, which is delivered to the director on a one-for-one basis when the director leaves board service.

When will Cynthia L. Hansen receive FuelCell Energy (FCEL) shares from these deferred units?

According to the filing, Hansen’s deferred units convert into FuelCell Energy common shares upon separation from service as a director. At that time, she will receive one share of common stock for each deferred unit credited to her account.

Was the FuelCell Energy (FCEL) Form 4 transaction a market purchase or sale?

No. The Form 4 shows a grant of Deferred Common Stock Units to director Cynthia L. Hansen, coded as an acquisition (A). It reflects non-cash equity compensation under a plan, not a market trade in FuelCell Energy shares on an exchange.