Stem (STEM) CEO vests 18,125 RSUs, sells 5,145 shares for tax

Rhea-AI Filing Summary

Stem, Inc. CEO Arun Narayanan reported a mix of compensation-related stock activity. On March 7, 2026, restricted stock units (RSUs) converted one-for-one into 18,125 shares of common stock at a $0.00 conversion price, reflecting vesting of awards granted on January 27, 2025. The Form 4 shows remaining unvested RSU balances of 25,000 and 5,625 units from those grants. To cover tax obligations from the RSU settlement, 5,145 common shares were automatically sold on March 10, 2026 at $11.12 per share in an open-market transaction that the filing states was a non-discretionary “sell to cover” trade. Following these transactions, Narayanan directly holds 12,980 common shares.

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

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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^*

Narayanan Arun

(Last) (First) (Middle)

1400 POST OAK BLVD

SUITE 560

(Street)

HOUSTON TX 77056

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STEM, INC. [ STEM ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/07/2026

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, Par Value $0.0001 Per Share	03/07/2026		M		12,500	A	(1)	12,500	D
Common Stock, Par Value $0.0001 Per Share	03/07/2026		M		5,625	A	(1)	18,125	D
Common Stock, Par Value $0.0001 Per Share	03/10/2026		S(2)		5,145	D	$11.12	12,980	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
Restricted Stock Unit	(1)	03/07/2026		M			12,500	(3)	(3)	Common Stock, Par Value $0.0001 Per Share	12,500	$0	25,000	D
Restricted Stock Unit	(1)	03/07/2026		M			5,625	(4)	(4)	Common Stock, Par Value $0.0001 Per Share	5,625	$0	5,625	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") converted into a share of common stock on a one-for-one basis.

2. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of restricted stock units on March 7, 2026. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.

3. On January 27, 2025, the reporting person was granted 37,500 RSUs vesting in three near equal annual installments, the first of which vested on March 7, 2026.

4. On January 27, 2025, the reporting person was granted 11,250 RSUs vesting in two near equal annual installments, the first of which vested on March 7, 2026.

Remarks:

	/s/ Sarah Dunn, attorney-in-fact	03/10/2026
	** 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).
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FAQ

What insider transactions did STEM CEO Arun Narayanan report in this Form 4?

Arun Narayanan reported RSU vesting that converted into 18,125 shares of Stem common stock and an automatic sale of 5,145 shares at $11.12 each to cover taxes related to the RSU settlement.

How many STEM shares did the CEO sell and at what price in this filing?

The CEO reported an automatic sale of 5,145 shares of Stem common stock at $11.12 per share. The filing describes this as a "sell to cover" transaction to satisfy tax liabilities from vested restricted stock units.

How many shares did STEM’s CEO acquire through RSU vesting in March 2026?

The CEO’s restricted stock units converted into 18,125 shares of Stem common stock on March 7, 2026. These came from RSU grants of 37,500 and 11,250 units originally awarded on January 27, 2025 and vesting in installments.

Was the STEM CEO’s sale of 5,145 shares a discretionary trade?

No. The filing states the 5,145-share sale was an automatic "sell to cover" transaction. Shares were sold solely to cover the reporting person’s tax liability from RSU settlement, and it is described as non-discretionary.

What are Arun Narayanan’s reported STEM share holdings after these transactions?

After these transactions, Arun Narayanan is shown holding 12,980 shares of Stem common stock directly. He also retains unvested RSU positions of 25,000 and 5,625 units from prior grants that continue to vest over time.

What RSU grants to STEM’s CEO are referenced in this Form 4 filing?

The filing notes RSU grants made on January 27, 2025: 37,500 units vesting in three near-equal annual installments and 11,250 units vesting in two near-equal annual installments. The first installments of both grants vested on March 7, 2026.