FuelCell Energy, Inc. (FCEL) appointed Matthew Latino executive vice president, CFO and treasurer, effective October 7, 2026; Michael S. Bishop ends those roles effective October 6, 2026, then serves as senior advisor to the CEO through April 6, 2027.
Latino's agreement sets a $460,000 annual salary, a fiscal 2027 target bonus of 70% of salary and a $1,000,000 target long-term incentive award. It also provides a $120,000 sign-on bonus, repayable if he leaves voluntarily or is terminated for cause before completing 12 months, and a $400,000 restricted-stock-unit grant expected in December 2026. Bishop's transition includes an annualized $461,591 salary; at its end, he is to receive $461,591 severance and accelerated vesting of 68,518 time-vesting restricted stock units. His benefits are contingent on a release of claims and continued compliance with specified covenants.
FuelCell Energy, Inc. officer Shankar Achanta gave notice of a proposed sale of 2,500 common shares through Fidelity Brokerage Services LLC, with an aggregate market value of $46,250 and an approximate sale date of October 6, 2026. The notice identifies restricted-stock vesting acquisitions of 1,090 shares on May 8, 2025, and 1,410 shares on May 8, 2026. It also reports that Achanta sold 2,500 common shares for $71,775 on July 6, 2026, during the preceding three months.
FUELCELL ENERGY INC (FCEL) director Homer John Livingston III purchased common stock in the company. On September 14, 2026, he bought 16,404.1994 shares in an open-market transaction at a weighted average price of $15.0544 per share, increasing his direct holdings to 42,747.1994 shares. The reported price reflects trades between $15.035 and $15.06, and no Rule 10b5-1 trading plan is indicated.
FuelCell Energy, Inc. (FCEL) reported substantially lower quarterly revenue but a much smaller loss for the quarter ended July 31, 2026. Total revenues for the quarter were $33.0 million, down from $46.7 million a year earlier, driven by declines across product, service, generation and Advanced Technologies lines. The quarterly net loss attributable to FuelCell Energy, Inc. improved to $44.5 million from $91.7 million, with loss per share improving to $(0.64) from $(3.78).
For the nine months, revenue was $99.1 million versus $103.1 million, while net loss attributable to the company narrowed to $145.2 million from $158.0 million. Cash and cash equivalents increased sharply to $658.1 million from $278.1 million, supported by EXIM project financings, a $245.5 million underwritten equity offering at $21.00 per share, and $208.2 million of net proceeds from at-the-market sales.
The company entered a large Capital Equipment Purchase Agreement with Fit Energy USA LP, adding about $90.8 million to product and $110.7 million to service remaining performance obligations, and issued performance-based equity warrants with an estimated grant-date fair value of $141.6 million. FuelCell recorded a $42.6 million impairment related to upgrading the 7.4 MW Groton project and continues to rely on tax equity structures for the Derby, Groton and Yaphank projects. Shares outstanding rose to 79.95 million from 46.08 million, reflecting significant equity issuance.
FuelCell Energy, Inc. (FCEL) reported third fiscal quarter 2026 revenue of $33.0 million, down 29% year over year, and a net loss of $45.3 million, about half the prior-year loss due mainly to the absence of last year’s impairment and restructuring charges. Gross loss widened to $24.5 million, driven by product costs and overhead that currently exceed contractual pricing under the Fit Energy capital equipment purchase agreement, including $17.0 million of charges tied to Phase 0 inventory and purchase commitments.
Total Committed and Awarded Capacity Backlog rose sharply to $3.65 billion as of July 31, 2026, including $1.30 billion of committed backlog and $2.35 billion of awarded capacity backlog linked to 350 MW under future Fit Energy phases, which remain at Fit’s option. Cash, cash equivalents and restricted cash increased to $737.3 million, supported by a 12.3 million-share underwritten offering at $21.00 per share and an additional 4.1 million shares sold via the at-the-market program.
Legal & General Group Plc, together with several investment management affiliates, reports beneficial ownership of common stock of FuelCell Energy, Inc.. The group collectively holds 2,419,645 shares of FuelCell Energy common stock, representing 3.6% of the class, with no sole voting or dispositive power and all such powers held on a shared basis.
The filing identifies multiple regulated asset-management entities, including Legal & General Investment Management Ltd, LGIM Managers (Europe) Limited, Legal & General UCITS ETF Plc, Legal & General Investment Management America Inc, and LGIM Singapore PTE Ltd, detailing their roles as discretionary investment managers or fund vehicles. The group certifies that its foreign regulatory regimes are substantially comparable to U.S. standards and undertakes to provide additional information upon request.
FuelCell Energy, Inc. has institutional holders led by several Citadel-affiliated entities and Kenneth Griffin, who may be deemed to beneficially own up to 3,015,372 Shares, representing 3.8% of the Shares outstanding. Citadel Securities LLC alone may be deemed to beneficially own 2,146,714 Shares, or 2.7% of the class.
All reported parties have no sole voting or dispositive power; their reported positions reflect only shared voting and shared dispositive power over the relevant Shares. Percentages are based on 79,929,602 Shares outstanding as of July 8, 2026, and each reporting person disclaims beneficial ownership beyond securities actually owned.
BlackRock, Inc. reported beneficial ownership of common stock of FuelCell Energy, Inc. on a Schedule 13G. BlackRock and certain of its business units hold 4,165,779 shares, representing 6.2% of the company’s common stock. BlackRock has sole voting power over 4,106,535 shares and sole dispositive power over all 4,165,779 shares, with no shared voting or dispositive power. Various underlying clients and beneficiaries have rights to dividends or sale proceeds, but no single person has more than five percent of FuelCell Energy’s outstanding common shares.
FuelCell Energy, Inc. reported that on July 21, 2026 it filed a prospectus supplement to its automatic shelf registration statement on Form S-3 (Registration No. 333-296607) with the SEC. The supplement describes securities for which a legal opinion was obtained.
The company also filed an opinion of Latham & Watkins LLP as Exhibit 5.1, addressing the legality of the issuance and sale of the securities described in the prospectus supplement, along with a related consent as Exhibit 23.1. This current report is limited to providing these legal exhibits.
FuelCell Energy Inc. director Homer John Livingston III purchased 26,343 shares of Common Stock on July 16, 2026, through transactions reported as open market or private purchases at a weighted average price of $18.7893 per share, with trade prices ranging from $18.71 to $18.79. This buying activity was not made under a Rule 10b5-1 trading plan and resulted in directly held ownership of 26,343 shares.