[Form 4] Stem, Inc. Insider Trading Activity

Rhea-AI Filing Summary

On 30 Jul 2025 Hewlett Packard Enterprise (NYSE: HPE) filed an 8-K under Item 7.01 announcing the Board’s declaration of a routine cash dividend on its 7.625% Series C Mandatory Convertible Preferred Stock. The dividend is $0.953125 per share, payable 1 Sep 2025 to shareholders of record as of 15 Aug 2025. If 1 Sep is a non-business day, payment will move to the next business day with no additional interest.

The disclosure is furnished—not filed—so it is excluded from Section 18 liability and will not be incorporated by reference into other SEC filings. No changes were announced to the common-stock dividend and the filing contains no earnings data, acquisitions, or strategic updates. The action reaffirms HPE’s capacity and intent to service its preferred equity obligations, but it is immaterial to common-equity valuation and overall corporate strategy.

Insights

Equity Analyst

TL;DR: Routine preferred dividend; liquidity intact, negligible impact on common equity.

The $0.953125 quarterly cash dividend aligns with the 7.625% coupon and follows the expected payment cadence for the Series C Mandatory Convertible Preferred Stock. Continuation of these payments demonstrates adequate near-term liquidity and adherence to capital-allocation commitments, a mild positive for preferred holders. However, there is no change to common-share cash returns or guidance, and no accompanying operational information. From a valuation perspective, the event is largely neutral; it neither signals incremental growth nor alters risk profile. Investors should view this as maintenance of the status quo rather than a catalyst.

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 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)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025

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

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)	07/28/2025		A		10,000		(2)	(2)	Common Stock, Par Value 0.0001 Per Share	10,000	$0	10,000	D
Performance Stock Unit	(1)	07/28/2025		A		10,000		(3)	(3)	Common Stock, Par Value 0.0001 Per Share	10,000	$0	10,000	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") and performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.

2. On July 28, 2025, the Reporting Person was granted 10,000 RSUs vesting in three nearly equal annual installments (33%,33%, 34%), beginning on August 7, 2026.

3. On June 28, 2025, the Reporting Person was granted 10,000 PSUs, a portion of which vests, if the volume-weighted average price of the Issuer's common stock for any consecutive sixty (60) trading-day period equals or exceeds a stock price target.

Remarks:

PRESIDENT, MANAGED SERVICES & OEM HARDWARE

	/s/ Saul R. Laureles	07/30/2025
	** 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.