Stem executive Carlson sells 146 shares to pay taxes

The 146-share sale was described as an automatic tax-liability transaction, rather than a discretionary trade.

Rhea-AI Filing Summary

STEM, Inc. President, Managed Services Michael James Carlson reported that 305 restricted stock units vested on September 26, 2026, converting into 305 common shares; the common-stock transaction is reported at $4.48 per share. On September 29, 2026, he reported a sale of 146 shares at $4.67 per share to cover tax liability tied to the vesting. The footnote says the sale was automatic and not discretionary; no Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Carlson Michael James

Role President, Managed Services

Sold 146 shs ($681.82)

Approx. gross sale proceeds $681.82

Type	Security	Shares	Price	Value
Sale	Common Stock, Par Value $0.0001 Per Share F1	146	$4.67	$681.82
Exercise	Restricted Stock Unit F2, F3	305	$0.00	$0.00
Exercise	Common Stock, Par Value $0.0001 Per Share	305	$4.48	$1K

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock, Par Value $0.0001 Per Share — 26,020 shares (Direct)

Footnotes (3)

1. F1. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the vesting of RSUs on September 26, 2026. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.
2. F2. Each restricted stock unit ("RSU") represents the contingent right to receive one share of the Issuer's common stock.
3. F3. On September 26, 2022, the Reporting Person was granted 1,217 RSUs vesting in four equal annual installments, the fourth of which vested on September 26, 2026.

Key Figures

RSUs vested: 305 restricted stock units Common shares acquired: 305 shares Reported per-share amount: $4.48 per share +4 more

7 metrics

RSUs vested 305 restricted stock units September 26, 2026

Common shares acquired 305 shares On vesting of the RSUs on September 26, 2026

Reported per-share amount $4.48 per share Common-stock transaction on September 26, 2026

Shares sold to cover tax liability 146 shares September 29, 2026

Sale price $4.67 per share Sale on September 29, 2026

RSU grant 1,217 RSUs Granted September 26, 2022

Vesting schedule Four equal annual installments Terms of the September 26, 2022 grant

Key Terms

Restricted Stock Unit, sell to cover, vesting

3 terms

Restricted Stock Unit financial

"Each restricted stock unit ("RSU") represents the contingent right to receive one share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

sell to cover financial

"This "sell to cover" transaction does not represent a discretionary trade"

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.

vesting financial

"in connection with the vesting of RSUs on September 26, 2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many STEM shares did Michael James Carlson sell, and why?

Michael James Carlson, STEM's President, Managed Services, reported selling 146 shares on September 29, 2026, at $4.67 per share to cover tax liability connected with RSU vesting on September 26, 2026. The footnote says the sale was automatic and not discretionary. No Rule 10b5-1 plan is reported.

What were the vesting terms of Michael James Carlson's STEM RSU grant?

Michael James Carlson, STEM's President, Managed Services, received a grant of 1,217 RSUs on September 26, 2022, vesting in four equal annual installments. The fourth installment vested on September 26, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/29/2026 - 09:08 PM Accepted by SEC EDGAR 09/29/2026 - 09:07 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^*

Carlson Michael James

(Last) (First) (Middle)

1400 POST OAK BOULEVARD

SUITE 560

(Street)

HOUSTON TEXAS 77056

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	President, Managed Services

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/26/2026

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, Par Value $0.0001 Per Share	09/26/2026		M		305	A	$4.48	26,166	D
Common Stock, Par Value $0.0001 Per Share	09/29/2026		S(1)		146	D	$4.67	26,020	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	(2)	09/26/2026		M			305	(3)	(3)	Common Stock, Par Value $0.0001 Per Share	305	$0	0	D

Explanation of Responses:

1. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the vesting of RSUs on September 26, 2026. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.

2. Each restricted stock unit ("RSU") represents the contingent right to receive one share of the Issuer's common stock.

3. On September 26, 2022, the Reporting Person was granted 1,217 RSUs vesting in four equal annual installments, the fourth of which vested on September 26, 2026.

Remarks:

	/s/ Sarah Dunn, attorney-in-fact	09/29/2026
	** 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)