Stem CLO exercises PSUs, small tax-related share sale
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
STEM, INC. Chief Legal Officer Saul R. Laureles reported performance-based equity vesting and a related tax sale. On June 30, 2026, a total of 7,750 performance stock units converted into an equal number of common shares after the company met a stock price performance target. On July 2, 2026, 675 shares were automatically sold at $7.85 per share to cover tax liabilities, a non-discretionary “sell to cover” transaction. Following these transactions, Laureles directly holds 34,525 common shares.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
5 txns
Insider
Laureles Saul R.
Role
Chief Legal Officer
Sold
675 shs ($5K)
Approx. gross sale proceeds
$5K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, Par Value $0.0001 Per Share | 675 | $7.85 | $5K |
| Exercise | Performance Stock Unit | 2,750 | $0.00 | $0.00 |
| Exercise | Performance Stock Unit | 5,000 | $0.00 | $0.00 |
| Exercise | Common Stock, Par Value $0.0001 Per Share | 5,000 | $7.81 | $39K |
| Exercise | Common Stock, Par Value $0.0001 Per Share | 2,750 | $7.81 | $21K |
Holdings After Transaction:
Performance Stock Unit — 7,750 contracts (Direct);
Common Stock, Par Value $0.0001 Per Share — 34,525 shares (Direct)
Footnotes (4)
- F1. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of PSUs on June 30, 2026. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.
- F2. Each performance stock unit ("PSU") represented a contingent right to receive one share of the Issuer's common stock if the volume-weighted average price of the Issuer's common stock for any consecutive sixty (60) trading-day period equaled or exceeded $17.60 (the "Performance Metric") during a performance period ending on June 30, 2028 (the "Performance Period").
- F3. On June 30, 2025, the Reporting Person was granted 5,500 PSUs, 2,750 of which vested on June 30, 2026 following the Issuer's achievement of the Performance Metric during the Performance Period.
- F4. On July 28, 2025, the Reporting Person was granted 10,000 PSUs, 5,000 of which vested on June 30, 2026 following the Issuer's achievement of the Performance Metric during the Performance Period.
Key Figures
Tax-related sale: 675 shares at $7.85
PSUs converted: 7,750 PSUs
Post-transaction holdings: 34,525 shares
+3 more
6 metrics
Tax-related sale
675 shares at $7.85
Automatic sell-to-cover on July 2, 2026
PSUs converted
7,750 PSUs
Converted into common shares on June 30, 2026
Post-transaction holdings
34,525 shares
Common stock directly held after reported transactions
First PSU grant
5,500 PSUs
Grant on June 30, 2025; 2,750 vested June 30, 2026
Second PSU grant
10,000 PSUs
Grant on July 28, 2025; 5,000 vested June 30, 2026
Performance price hurdle
$17.60 VWAP
Required for any 60 trading days within period to June 30, 2028
Key Terms
Performance stock unit, sell to cover, volume-weighted average price, Performance Metric, +1 more
5 terms
Performance stock unit financial
"Each performance stock unit ("PSU") represented a contingent right to receive one share..."
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
sell to cover financial
"Represents shares of common stock automatically sold to cover the reporting person's tax liability..."
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
volume-weighted average price financial
"if the volume-weighted average price of the Issuer's common stock for any consecutive sixty..."
Volume-weighted average price (VWAP) is the average price of a stock over a specific time period where each trade is weighted by the number of shares traded, so larger trades influence the average more than small ones. Investors and traders use VWAP as a reference point to judge whether trades are happening at relatively good or poor prices—like checking the average price paid for an item at a market where bulk purchases count more than single-item buys.
Performance Metric financial
"...period equaled or exceeded $17.60 (the "Performance Metric") during a performance period..."
Performance Period financial
"...during a performance period ending on June 30, 2028 (the "Performance Period")."
The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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