Form 4: AES EVP Reports Routine Stock Transactions
Insider Transaction Report
Tish Mendoza, AES Corporation's EVP & Chief HR Officer, reported recent acquisitions and dispositions of company common stock related to executive compensation plans.
Summary
- Tish Mendoza, EVP & Chief HR Officer, reported transactions involving AES Corporation common stock on February 20, 2026.
- Acquired 28,026 shares of common stock from a new Restricted Stock Unit (RSU) award, which will vest in three annual installments starting February 20, 2027.
- Acquired 32,542 shares of common stock from a Performance Stock Unit (PSU) award, originally granted on February 24, 2023, with the performance value approved on February 20, 2026.
- Disposed of 13,801 shares for automatic tax withholding related to the vesting and settlement of PSUs granted on February 24, 2023, at a price of $16.51 per share.
- Disposed of 3,648 shares for automatic tax withholding related to the vesting and settlement of one-third of RSUs granted on February 22, 2024, at a price of $16.51 per share.
- Disposed of 5,512 shares for automatic tax withholding related to the vesting and settlement of one-third of RSUs granted on February 21, 2025, at a price of $16.51 per share.
- Beneficial ownership of common stock following these direct transactions is 289,907 shares.
- Indirectly acquired 1,493 additional shares of AES Common Stock through The AES Corporation Retirement Savings Plan since February 26, 2025, bringing the total indirect ownership in the 401(k) to 30,107 shares as of February 17, 2026.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral, representing routine executive compensation activities including the vesting of stock units and associated tax withholdings, which are standard practice.
Positives
- Acquisition of 28,026 shares from a new RSU award, demonstrating ongoing executive compensation and alignment with shareholder interests.
- Acquisition of 32,542 shares from a PSU award, indicating successful achievement of performance targets over the three-year period from February 24, 2023.
- Continued accumulation of shares through the company's Retirement Savings Plan, with 1,493 additional shares acquired.
Negatives
- Disposition of 22,961 shares (13,801 + 3,648 + 5,512) through automatic tax withholding, which reduces the direct beneficial ownership of the executive.
Future Outlook
The newly granted Restricted Stock Unit (RSU) award of 28,026 shares will vest in three equal annual installments on February 20, 2027, February 20, 2028, and February 20, 2029, contingent on continued employment.
Industry Context
StockSavvy.ai notes that these transactions are typical for executive compensation, involving the vesting of equity awards and subsequent share dispositions for tax obligations. Such routine filings provide transparency into insider ownership changes but rarely signal significant shifts in company fundamentals or strategy.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Tish Mendoza granted a Power of Attorney to Paul L. Freedman, Jennifer V. Gillcrist, and Pablo A. Fekete to prepare, execute, and file SEC Forms 3, 4, 5, and 144, manage EDGAR accounts, and obtain transaction information on her behalf. | 07/08/2025 | Streamlines the process for the executive to comply with Section 16 reporting requirements by delegating administrative tasks to designated attorneys-in-fact. |
Stakeholder Impact
- Shareholders: Provides transparency regarding executive ownership and compensation structure. The vesting of PSUs indicates performance targets were met, which could be viewed positively.
- Employees: Reflects the company's executive compensation practices, which may influence broader compensation strategies.
- Reporting Person (Tish Mendoza): Directly impacts her beneficial ownership and compensation, with new equity awards granted and some shares disposed for tax purposes.
Next Steps
- First installment of the new RSU award (28,026 shares) will vest on February 20, 2027.
- Second installment of the new RSU award (28,026 shares) will vest on February 20, 2028.
- Third installment of the new RSU award (28,026 shares) will vest on February 20, 2029.
Key Dates
| Date | Description |
|---|---|
| 02/24/2023 | Grant date of Performance Stock Unit (PSU) award. |
| 02/22/2024 | Grant date of Restricted Stock Unit (RSU) award, one-third of which vested. |
| 02/21/2025 | Grant date of Restricted Stock Unit (RSU) award, one-third of which vested. |
| 07/08/2025 | Date Power of Attorney was executed by Tish Mendoza. |
| 02/17/2026 | Date of plan statement for The AES Corporation Retirement Savings Plan. |
| 02/20/2026 | Date of earliest transaction, including RSU and PSU vesting and related tax withholdings. |
| 02/24/2026 | Signature date of the reporting person on the Form 4. |
| 02/20/2027 | First annual vesting date for the new RSU award of 28,026 shares. |
| 02/20/2028 | Second annual vesting date for the new RSU award of 28,026 shares. |
| 02/20/2029 | Third annual vesting date for the new RSU award of 28,026 shares. |
Keywords
AES, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, Performance Stock Units, Stock Vesting, Tax Withholding, Tish Mendoza
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