AES unit sells 10,066,414 Fluence Energy (FLNC) Class A shares in offering

Rhea-AI Filing Summary

Fluence Energy, Inc. disclosed that AES Grid Stability, LLC, a wholly owned subsidiary of The AES Corporation and a major holder, sold 10,066,414 shares of Class A Common Stock in an open-market transaction at $21.00 per share. To facilitate this sale, AES Grid Stability converted 10,066,414 LLC Units of Fluence Energy, LLC, together with the corresponding cancellation of an equal number of shares of Class B-1 Common Stock, into Class A Common Stock on a one-for-one basis as permitted by its redemption right. After these transactions, the reporting holders show 0 Class A shares and 41,432,781 LLC Units of Fluence Energy, LLC held indirectly.

Insights

Equity capital markets analyst

AES converted 10,066,414 LLC units, then sold the same number of Fluence Class A shares at $21.

The transactions show a classic conversion-and-sale pattern. AES Grid Stability redeemed 10,066,414 LLC Units of Fluence Energy, LLC, cancelling an equal number of Class B-1 shares and receiving the same number of Class A shares on a one-for-one basis, consistent with the described exchange mechanics.

On the same date, AES Grid Stability executed an open-market or private sale of 10,066,414 Class A shares at $21.00 per share in connection with an underwritten offering. Following these moves, reported Class A holdings fell to zero while 41,432,781 LLC Units remain indirectly held. The filing does not reference a Rule 10b5-1 trading plan, so timing appears discretionary based on the excerpt.

Insider Trade Summary

Net Seller: 10,066,414 shares ($211,394,694)

Net Sell 3 txns

Insider AES CORP, AES Grid Stability, LLC

Role null | null

Sold 10,066,414 shs ($211.39M)

Type	Security	Shares	Price	Value
Conversion	LLC Units of Fluence Energy, LLC	10,066,414	$0.00	--
Conversion	Class A Common Stock	10,066,414	$0.00	--
Sale	Class A Common Stock	10,066,414	$21.00	$211.39M

Holdings After Transaction: LLC Units of Fluence Energy, LLC — 41,432,781 shares (Indirect, See Footnote); Class A Common Stock — 10,066,414 shares (Indirect, See footnote)

Footnotes (1)

1. On May 15, 2026, AES Grid Stability, LLC ("AES Grid Stability"), a wholly owned, indirect subsidiary of The AES Corporation, exercised its redemption right with respect to 10,066,414 LLC Units of Fluence Energy, LLC ("OpCo Units") together with the corresponding cancellation of 10,066,414 shares of Class B-1 Common Stock of Fluence Energy, Inc. AES Grid Stability exercised such redemption right as a result of AES Grid Stability's and The AES Corporation's determination to sell 10,066,414 shares Class A Common Stock in an underwritten offering. The OpCo Units and an equal number of shares of Class B-1 Common Stock, together are exchangeable at the discretion of the holder for, at the Issuer's election, shares of Class A Common Stock on a one-for-one basis or the cash value thereof, subject to certain exceptions, conditions and adjustments, and have no expiration date. The OpCo Units are held by AES Grid Stability, LLC, which is a wholly owned subsidiary of The AES Corporation.

Key Figures

Class A shares sold: 10,066,414 shares Sale price per share: $21.00 per share LLC Units converted: 10,066,414 units +2 more

5 metrics

Class A shares sold 10,066,414 shares Open-market or private sale on May 15, 2026

Sale price per share $21.00 per share Class A Common Stock transaction

LLC Units converted 10,066,414 units Redemption of Fluence Energy, LLC units into Class A

LLC Units remaining 41,432,781 units Indirect holdings after conversion and sale

Class A shares after sale 0 shares Total Class A Common Stock held following transactions

Key Terms

underwritten offering, redemption right, LLC Units of Fluence Energy, LLC, Class B-1 Common Stock, +1 more

5 terms

underwritten offering financial

"determination to sell 10,066,414 shares Class A Common Stock in an underwritten offering"

An underwritten offering is when a bank or group of banks agrees to buy all of a company's new shares or bonds and then resell them to outside investors, guaranteeing the company will raise a specific amount of money. It matters to investors because it adds certainty that the funding will close while increasing the number of shares or debt in the market, which can lower the price per share and change each existing owner's ownership percentage—think of a wholesaler buying an entire shipment from a maker before it reaches stores.

redemption right financial

"exercised its redemption right with respect to 10,066,414 LLC Units"

LLC Units of Fluence Energy, LLC financial

"10,066,414 LLC Units of Fluence Energy, LLC ("OpCo Units")"

Class B-1 Common Stock financial

"cancellation of 10,066,414 shares of Class B-1 Common Stock of Fluence Energy, Inc."

Class A Common Stock financial

"shares of Class A Common Stock on a one-for-one basis"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 05/19/2026 - 04:55 PM Accepted by SEC EDGAR 05/19/2026 - 04:54 PM Learn about SEC filing dates

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^*

AES CORP

(Last) (First) (Middle)

4300 WILSON BOULEVARD, SUITE 1100

(Street)

ARLINGTON VIRGINIA 22203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Fluence Energy, Inc. [ FLNC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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
Class A Common Stock	05/15/2026		C		10,066,414	A	(1)	10,066,414	I	See footnote(2)
Class A Common Stock	05/15/2026		S		10,066,414	D	$21	0	I	See footnote(2)

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
LLC Units of Fluence Energy, LLC	(2)	05/15/2026		C			10,066,414	(2)	(2)	Class A Common Stock	10,066,414	$0.00	41,432,781	I	See Footnote(3)

1. Name and Address of Reporting Person^*

AES CORP

(Last) (First) (Middle)

4300 WILSON BOULEVARD, SUITE 1100

(Street)

ARLINGTON VIRGINIA 22203

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AES Grid Stability, LLC

(Last) (First) (Middle)

4300 WILSON BOULEVARD, SUITE 1100

(Street)

ARLINGTON VIRGINIA 22203

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. On May 15, 2026, AES Grid Stability, LLC ("AES Grid Stability"), a wholly owned, indirect subsidiary of The AES Corporation, exercised its redemption right with respect to 10,066,414 LLC Units of Fluence Energy, LLC ("OpCo Units") together with the corresponding cancellation of 10,066,414 shares of Class B-1 Common Stock of Fluence Energy, Inc. AES Grid Stability exercised such redemption right as a result of AES Grid Stability's and The AES Corporation's determination to sell 10,066,414 shares Class A Common Stock in an underwritten offering.

2. The OpCo Units and an equal number of shares of Class B-1 Common Stock, together are exchangeable at the discretion of the holder for, at the Issuer's election, shares of Class A Common Stock on a one-for-one basis or the cash value thereof, subject to certain exceptions, conditions and adjustments, and have no expiration date.

3. The OpCo Units are held by AES Grid Stability, LLC, which is a wholly owned subsidiary of The AES Corporation.

	/s/The AES Corporation, By: Jennifer Gillcrist, Assistant Secretary	05/18/2026
	/s/AES Grid Stability LLC, By: Pablo Fekete, Secretary	05/18/2026
	** 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 AES Grid Stability do in this Fluence Energy (FLNC) Form 4?

AES Grid Stability converted 10,066,414 LLC Units into the same number of Fluence Class A shares, then sold all 10,066,414 Class A shares at $21.00 per share in an underwritten offering, eliminating its reported Class A position while retaining LLC Units.

How many Fluence Energy (FLNC) shares were sold and at what price?

The reporting entity sold 10,066,414 shares of Fluence Energy Class A Common Stock at $21.00 per share. This sale was reported as an open-market or private transaction executed in connection with an underwritten offering on May 15, 2026.

What is the relationship between AES Grid Stability and Fluence Energy (FLNC)?

AES Grid Stability, LLC is a wholly owned subsidiary of The AES Corporation and a major holder in Fluence Energy. It holds LLC Units of Fluence Energy, LLC that can be exchanged, together with Class B-1 shares, into Class A Common Stock on a one-for-one basis or cash equivalent.

What happened to AES’s Class A holdings in Fluence Energy (FLNC) after the transactions?

After converting 10,066,414 LLC Units into Class A shares and selling all 10,066,414 Class A shares, the reporting holders show zero Class A Common Stock. They continue to hold 41,432,781 LLC Units of Fluence Energy, LLC indirectly, reflecting an ongoing economic interest.

How do the Fluence Energy (FLNC) LLC Units and Class B-1 shares work?

Each LLC Unit of Fluence Energy, LLC paired with a corresponding Class B-1 share is exchangeable into one Fluence Class A share or its cash value. This exchange is at the issuer’s election and is subject to specified exceptions, conditions, adjustments, and no stated expiration date.

Was the Fluence Energy (FLNC) sale part of an underwritten offering?

Yes. The footnotes state AES Grid Stability exercised its redemption right specifically because AES Grid Stability and The AES Corporation decided to sell 10,066,414 Class A shares of Fluence Energy in an underwritten offering, and the Form 4 records that associated sale.