[SCHEDULE 13G/A] Stem, Inc. SEC Filing

Rhea-AI Filing Summary

Amendment No. 5 to Schedule 13G reveals that The Vanguard Group now owns a passive 4.64 % stake in Stem, Inc. (STEM) as of 30 June 2025.

• Shares held: 386,755 common shares.
• Voting power: 0 shares (sole or shared).
• Dispositive power: 383,903 shares sole; 2,852 shares shared.
• Reporting status: Vanguard files as an Investment Adviser (IA) under Rule 13d-1(b).

The firm checked Item 5 (“ownership of 5 % or less”), indicating its position has fallen below the 5 % threshold since the prior amendment. Vanguard certifies the securities are held in the ordinary course and not to influence control. While the reduction suggests recent net selling by a major index manager, Vanguard retains disposal authority over a meaningful block, keeping it an important—but non-activist—shareholder.

Positive

• Continued institutional presence: Vanguard still holds 386,755 STEM shares, providing liquidity and baseline passive support.

Negative

• Stake dips below 5 %: Reduction suggests net selling by a major index fund and removes Vanguard from the ≥5 % reporting category.
• No voting power: Vanguard cites zero voting authority, limiting potential advocacy for minority shareholders.

Insights

Equity Analyst

TL;DR – Vanguard cut STEM below 5 %; modestly negative signal but limited governance impact.

Vanguard’s dip to 4.64 % confirms incremental selling since the last filing. The group retains disposal but no voting power, typical for its passive mandates, meaning limited influence on corporate actions. Crossing under 5 % can loosen reporting requirements and marginally reduce support in future proxy votes, potentially lowering perceived institutional sponsorship. That said, 386 k shares remain material for a micro-cap and still provide liquidity support. Impact is moderate: a data point of passive outflows rather than a thesis-changing event.

Corporate Governance Specialist

TL;DR – Ownership <5 % removes Vanguard from large-holder category; governance effect minimal.

Because Vanguard discloses zero voting power, its drop below 5 % has little practical governance consequence. The firm already abstained from active engagement. Investors should note, however, that fewer shares subject to passive stewardship could slightly shift future proxy outcomes toward more active funds. Overall, disclosure is routine and non-strategic.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

Stem Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

85859N300

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 85859N300

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 383,903.00
8	Shared Dispositive Power 2,852.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

386,755.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.64 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Stem Inc
(b)	Address of issuer's principal executive offices: 1400 POST OAK BOULEVARD, SUITE 560, HOUSTON, TX, 77056
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 85859N300
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 386755
(b)	Percent of class: 4.64 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 383903
	(iv) Shared power to dispose or to direct the disposition of: 2852
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	07/29/2025

FAQ

How many Stem Inc (STEM) shares does Vanguard now own?

Vanguard reports 386,755 common shares beneficially owned.

What percentage of Stem’s outstanding shares does this represent?

The position equals 4.64 % of the class.

Did Vanguard reduce its ownership in STEM?

Yes. Item 5 indicates ownership is now 5 % or less, confirming a drop below the prior threshold.

Does Vanguard have voting power over its STEM shares?

No. The filing states 0 shares with sole or shared voting power.

Why was a Schedule 13G/A filed?

Crossing below the 5 % ownership threshold requires an amended 13G to update the market on Vanguard’s passive stake.

What is the effective date of this ownership information?

The event date is June 30, 2025; the filing was signed July 29, 2025.