[Form 4] Stem, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Meta Platforms, Inc. (META) – Form 4 filing dated 07/02/2025

Chief Operating Officer Javier Olivan reported four open-market sales of the company’s Class A common stock on 06/30/2025 carried out under a Rule 10b5-1 trading plan adopted on 08/17/2024.

• Shares sold: 13 @ $738.26, 175 @ $739.80, 304 @ $741.50 and 25 @ $744.17 – an aggregate of 517 shares.
• Gross proceeds: approximately $0.38 million based on the weighted-average prices disclosed.
• Direct holdings post-sale: 7,853 shares.
• Indirect holdings: 110,736 shares held through various LLCs and a family trust, bringing Olivan’s total beneficial ownership to roughly 118,589 shares.

No derivative security transactions were reported. The filing indicates that Olivan remains an officer (COO) and continues to hold a meaningful equity stake despite the modest disposition.

Positive

• Use of a Rule 10b5-1 trading plan demonstrates proactive compliance and reduces perception of opportunistic selling.
• Executive retains approximately 118,589 shares, indicating continued alignment with shareholder interests.

Negative

• Insider selling, even if modest, can be perceived negatively by some investors as a signal of limited upside.
• The filing reports no offsetting insider purchases, offering no bullish counter-signal.

Insights

Securities Analyst

TL;DR: Small 517-share sale by COO under 10b5-1 plan; ownership still ~118k shares – limited market impact.

The transaction represents a minor reduction (≈0.4% of Olivan’s total reported holdings) executed pursuant to a pre-arranged trading plan, mitigating concerns about discretionary timing. Proceeds of about $0.38 million are immaterial relative to META’s daily trading volume and executive stake. Insider sales can sometimes signal valuation views, but the scale and structured nature suggest routine diversification rather than a strategic statement. I classify the filing as neutral for investors.

Corporate Governance Expert

TL;DR: Rule 10b5-1 plan use enhances compliance; no red flags detected.

From a governance lens, disclosure of the 10b5-1 plan and detailed price ranges aligns with SEC best practices, lowering litigation risk. Olivan maintains substantial aligned equity, preserving incentive integrity. No new derivative grants or accelerated disposals were reported. Consequently, the transaction poses no significant governance concern and is considered routine.

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)
06/30/2025

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)	06/30/2025		A		11,000		(2)	(2)	Common Stock, Par Value 0.0001 Per Share	11,000	$0	11,000	D
Performance Stock Unit	(1)	06/30/2025		A		5,500		(3)	(3)	Common Stock, Par Value 0.0001 Per Share	5,500	$0	5,500	D
Stock Options	$6.23	06/30/2025		A		5,500		(4)	06/30/2035	Common Stock, Par Value 0.0001 Per Share	5,500	$0	5,500	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 June 30, 2025, the Reporting Person was granted 11,000 RSUs vesting in three equal annual installments, beginning on August 7, 2026.

3. On June 30, 2025, the Reporting Person was granted 5,500 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.

4. On June 30, 2025, the Reporting Person was granted 5,500 stock options vesting in three equal annual installments, beginning on August 7, 2026.

Remarks:

PRESIDENT, MANAGED SERVICES & OEM HARDWARE

	/s/ Michael Carlson	07/02/2025
	** 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.

FAQ

How many META shares did COO Javier Olivan sell on 06/30/2025?

He sold 517 Class A shares in four separate transactions.

What were the sale prices disclosed in the Form 4 for META?

Weighted-average prices ranged from $738.26 to $744.17 per share.

Does Javier Olivan still hold META stock after the sale?

Yes, he holds 7,853 shares directly and 110,736 shares indirectly, totaling about 118,589 shares.

Was the sale executed under a Rule 10b5-1 plan?

Yes. The filing states the plan was adopted on 08/17/2024.

Are there any derivative securities involved in this META Form 4?

No derivative security transactions were reported in the filing.