STEM (NYSE: STEM) executive vests 7,750 PSUs and sells 996 shares for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
STEM, INC. executive Matthew Tappin reported performance-based equity vesting and a small related share sale. On June 30, 2026, he exercised performance stock units to acquire 7,750 shares of common stock at a conversion price of $0.00 per share, tied to achieving a volume-weighted average price of $17.60 over a defined period. On July 2, 2026, 996 shares were sold at $7.85 per share to cover tax liabilities from this settlement, described as a non-discretionary “sell to cover” transaction. Following these transactions, he directly held 9,577 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 996 shares ($7,819)
Net Sell
5 txns
Insider
Tappin Matthew
Role
President, Software Products
Sold
996 shs ($8K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock, Par Value $0.0001 Per Share | 996 | $7.85 | $8K |
| Exercise | Performance Stock Unit | 2,750 | $0.00 | -- |
| Exercise | Performance Stock Unit | 5,000 | $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:
Common Stock, Par Value $0.0001 Per Share — 9,577 shares (Direct, null);
Performance Stock Unit — 2,750 shares (Direct, null)
Footnotes (1)
- 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. 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"). 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. 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
Shares sold for tax: 996 shares at $7.85
Shares after transactions: 9,577 shares
PSUs converted: 7,750 shares
+4 more
7 metrics
Shares sold for tax
996 shares at $7.85
Automatic “sell to cover” on July 2, 2026
Shares after transactions
9,577 shares
Direct common stock holdings following Form 4 transactions
PSUs converted
7,750 shares
Performance stock units exercised into common stock on June 30, 2026
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 metric
$17.60 VWAP
Stock price hurdle for PSU vesting over sixty trading days
Performance period end
June 30, 2028
End of performance period for PSU awards
Key Terms
Performance stock unit, volume-weighted average price, Performance Metric, Performance Period, +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.
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
"...equated 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.
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.
FAQ
What insider transactions did STEM (STEM) report for Matthew Tappin?
STEM reported that Matthew Tappin exercised performance stock units to acquire 7,750 common shares and sold 996 shares. The sale was solely to cover tax liabilities from the PSU settlement and was not a discretionary trade.
What performance condition triggered Matthew Tappin’s STEM (STEM) performance stock units?
Each performance stock unit converted into one STEM share if the stock’s volume-weighted average price reached $17.60 over any consecutive sixty trading days. This condition was achieved within a performance period ending on June 30, 2028, enabling partial PSU vesting.
How many STEM (STEM) performance stock units vested for Matthew Tappin on June 30, 2026?
On June 30, 2026, 2,750 PSUs from a 5,500-unit grant and 5,000 PSUs from a 10,000-unit grant vested. In total, 7,750 performance stock units converted into an equal number of STEM common shares upon achievement of the performance condition.