Form 4: Stem Inc. CEO John Carrington Reports Stock Transactions
SEC Form 4 Filing
Stem Inc.'s CEO, John Carrington, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- Stem Inc.'s CEO, John Eugene Carrington, reported transactions involving the company's common stock.
- On February 24, 2024, 34,737 Restricted Stock Units (RSUs) vested, and shares were acquired at a price of $0.
- Also on February 24, 2024, 34,737 shares were disposed of.
- On February 27, 2024, 13,863 shares were sold at $2.70 per share to cover tax liabilities related to the RSU settlement.
- Following these transactions, Carrington directly owns 138,562 shares of Stem Inc.
- Carrington also directly owns 1,170,645 derivative securities in the form of Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Management Comments
- The 'sell to cover' transaction does not represent a discretionary trade by the reporting person.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like the CEO, when they trade their company's stock; it provides transparency to the market.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 10-04-2023 | Date of Limited Power of Attorney signing |
| 02/24/2023 | Date the reporting person was granted 105,264 RSUs vesting in three annual installments (33% / 33% / 34%) beginning on February 24, 2024. |
| 02/24/2024 | Date of RSU vesting and initial stock acquisition/disposal. |
| 02/27/2024 | Date of stock sale to cover tax liability. |
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