Director at FuelCell Energy (NASDAQ: FCEL) gains 23,859 shares from RSU vesting

Rhea-AI Filing Summary

FuelCell Energy Inc. director Betsy B. Bingham acquired 23,859 shares of common stock through the vesting of restricted stock units. On April 21, 2026, 23,859 director RSUs converted into an equal number of common shares on a one-for-one basis and were settled in stock. After this compensation-related transaction, she directly holds 23,859 common shares, with no remaining RSUs from this grant.

Insights

Equity compensation analyst

Director’s RSUs vested into 23,859 common shares in a routine equity compensation event.

Director Betsy B. Bingham converted 23,859 director restricted stock units into the same number of FuelCell Energy common shares on April 21, 2026. The Form 4 classifies this as an exercise or conversion of a derivative security, not an open-market trade.

The transaction reflects standard director equity compensation: RSUs vested and were settled in stock at a $0.00 exercise price on a one-for-one basis. There were no reported sales or tax-withholding dispositions, and the derivativeSummary shows no remaining RSUs from this grant after settlement.

Insider Trade Summary

23,859 shares exercised/converted

Mixed 2 txns

Insider Bingham Betsy B

Role null

Type	Security	Shares	Price	Value
Exercise	Director Restricted Stock Unit	23,859	$0.00	--
Exercise	Common Stock	23,859	$0.00	--

Holdings After Transaction: Director Restricted Stock Unit — 0 shares (Direct, null); Common Stock — 23,859 shares (Direct, null)

Footnotes (1)

1. Restricted stock units (RSUs") were converted into common stock on a one-for-one basis. These RSUs (i) vested on April 21, 2026, and (ii) were settled in shares of the Company's common stock.

Key Figures

RSUs converted: 23,859 units Common shares acquired: 23,859 shares Shares held after transaction: 23,859 shares +2 more

5 metrics

RSUs converted 23,859 units Director restricted stock units converted to common stock

Common shares acquired 23,859 shares Shares received upon RSU vesting on April 21, 2026

Shares held after transaction 23,859 shares Director’s direct common stock holdings following conversion

Exercise price $0.00 per share RSUs converted into common stock at zero exercise price

Exercise transactions 1 transaction Exercise or conversion of derivative security reported as code M

Key Terms

Director Restricted Stock Unit, restricted stock units (RSUs), Exercise or conversion of derivative security, derivative security

4 terms

Director Restricted Stock Unit financial

"security_title": "Director Restricted Stock Unit""

restricted stock units (RSUs) financial

"Restricted stock units (RSUs") were converted into common stock"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

Exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

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^*

Bingham Betsy B

(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)
04/21/2026

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
Common Stock	04/21/2026		M		23,859	A	$0(1)	23,859	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
Director Restricted Stock Unit	$0(1)	04/21/2026		M			23,859	(2)	(2)	Common Stock	23,859	$0	0	D

Explanation of Responses:

1. Restricted stock units (RSUs") were converted into common stock on a one-for-one basis.

2. These RSUs (i) vested on April 21, 2026, and (ii) were settled in shares of the Company's common stock.

	/s/ Michael S. Bishop, As Power of Attorney	04/22/2026
	** 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 did FCEL director Betsy B. Bingham report in this Form 4?

Betsy B. Bingham reported the conversion of 23,859 director restricted stock units into 23,859 shares of FuelCell Energy common stock. The RSUs vested and were settled in stock, reflecting routine equity compensation rather than an open-market purchase or sale.

How many FuelCell Energy (FCEL) shares did the director acquire in this filing?

The director acquired 23,859 shares of FuelCell Energy common stock. These shares resulted from director restricted stock units vesting and converting on a one-for-one basis into common stock, as disclosed in the Form 4 transaction details and related footnotes.

Was the FCEL Form 4 transaction an open-market buy or sell?

The Form 4 does not show an open-market buy or sell. Instead, it reports an exercise or conversion of 23,859 director restricted stock units into common stock, a compensation-related vesting event with a stated transaction price and exercise price of zero per share.

What do the RSU footnotes in the FCEL Form 4 explain?

The footnotes explain that the restricted stock units were converted into common stock on a one-for-one basis. They also note that these RSUs vested on April 21, 2026 and were settled in shares of FuelCell Energy’s common stock, clarifying the nature of the transaction.

How many FuelCell Energy shares does the director hold after this Form 4 event?

After the reported transaction, the Form 4 shows the director holding 23,859 shares of FuelCell Energy common stock directly. The derivative position tied to this RSU grant is shown as fully settled, with zero director restricted stock units remaining following the conversion.