Form 4: Stem Inc. CEO John Carrington Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
CEO John Carrington reports the vesting and subsequent transactions of Restricted Stock Units (RSUs) in Stem Inc. common stock.
Summary
- On April 28, 2024, Stem Inc. CEO John Carrington had 428,572 Restricted Stock Units (RSUs) vest, which were then converted into common stock.
- He also had 9,866 RSUs vest and convert to common stock on the same date.
- Following these transactions, Carrington directly owns 700,756 shares of Stem Inc. common stock and 705,412 RSUs.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of RSUs and subsequent stock transactions can have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| July 2, 2021 | Reporting person was granted 1,000,000 RSUs vesting as follows: 3/7th (428,572 RSUs) vesting on April 28, 2024, and 1/7th (142,857 RSUs) vesting on each anniversary thereafter. |
| July 2, 2021 | Reporting person was granted 39,463 RSUs vesting in four equal annual installments beginning on April 28, 2022. |
| April 28, 2022 | First vesting date for 39,463 RSUs granted on July 2, 2021. |
| April 28, 2024 | Vesting date for 428,572 RSUs and 9,866 RSUs. |
| April 30, 2024 | Date of Form 4 filing. |
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