STEM Form 4: CLO vests 13,750 RSUs; sells 3,379 to cover taxes

STEM, Inc. — Form 4 insider transaction: The Chief Legal Officer reported the vesting and settlement of 13,750 restricted stock units into common stock on 11/07/2025 (code M).

Rhea-AI Filing Summary

STEM, Inc. — Form 4 insider transaction: The Chief Legal Officer reported the vesting and settlement of 13,750 restricted stock units into common stock on 11/07/2025 (code M). On 11/10/2025, 3,379 shares were automatically sold at $18.27 (code F) to cover withholding taxes, described as a non‑discretionary “sell to cover.” Following these transactions, the reporting person beneficially owns 23,610 shares directly.

Insider Trade Summary

13,750 shares exercised/converted

Exercise 3 txns

Insider Laureles Saul R.

Role Chief Legal Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock, Par Value $0.0001 Per Share	3,379	$18.27	$62K
Exercise	Restricted Stock Unit	13,750	$0.00	$0.00
Exercise	Common Stock, Par Value $0.0001 Per Share	13,750	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock, Par Value $0.0001 Per Share — 23,610 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit ("RSU") converted into a share of common stock on a one-for-one basis.
2. F2. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of RSUs. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.
3. F3. On November 1, 2024 the reporting person was granted 13,750 RSUs, vesting 100% on November 7, 2025.

FAQ

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

What did STEM (STEM) disclose in this Form 4?

A vesting of 13,750 RSUs on 11/07/2025 and a tax-related sale of 3,379 shares at $18.27 on 11/10/2025.

Who reported the transaction for STEM (STEM)?

The company’s Chief Legal Officer filed the Form 4.

How many shares does the insider own after these transactions?

The insider beneficially owns 23,610 shares directly after the reported activity.

What is a 'sell to cover' noted in the filing?

Shares are automatically sold to satisfy tax withholding obligations upon RSU settlement and are not discretionary trades.

What were the transaction codes used?

Code M for RSU settlement and code F for tax withholding sale.

What security was involved?

Common Stock, $0.0001 par value of STEM, Inc.

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

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Accepted by SEC EDGAR 11/12/2025 - 04:23 PM EST 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^*

Laureles Saul R.

(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)
	Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2025

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
Common Stock, Par Value $0.0001 Per Share	11/07/2025		M		13,750	A	(1)	26,989	D
Common Stock, Par Value $0.0001 Per Share	11/10/2025		F(2)		3,379	D	$18.27	23,610	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	(1)	11/07/2025		M			13,750	(3)	(3)	Common Stock, Par Value $0.0001 Per Share	13,750	$0	0	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") converted into a share of common stock on a one-for-one basis.

2. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of RSUs. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.

3. On November 1, 2024 the reporting person was granted 13,750 RSUs, vesting 100% on November 7, 2025.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Sarah Dunn, attorney-in-fact	11/12/2025
	** 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.