AES CORP — Director's Dealing 2010

Feb 23, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AES CORP (AES)
CIK: 0000874761
Period of Report: 2010-02-19

Reporting Person: Gluski Andres (Executive VP & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-19	Common Stock	A	1836	$12.18	Acquired	9771	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-19	Stock Option (Right to Buy)	$12.18	A	88158	Acquired	2020-02-19	Common Stock (88158)	Direct
2010-02-19	Units	$	A	7799	Acquired		Common Stock (7799)	Direct
2010-02-19	Restricted Stock Units	$	D	19356	Disposed		Common Stock (19356)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	27265	Direct

Footnotes

F1: This 8% (of base salary) discretionary retirement savings award was granted pursuant to The AES Retirement Savings Plan (the "Plan") as determined by The AES Corporation Board of Directors on February 19, 2010 subject to applicable IRS contribution limits. The closing stock price on February 19, 2010 was used to determine the number of shares awarded. Between January 5, 2010 and February 18, 2010, the reporting person acquired 227 shares of AES Common stock under the Plan.

F2: This stock option award was granted pursuant to The AES Corporation 2003 Long Term Compensation Plan and will vest in three equal annual installments if certain continuing employment conditions are satisfied. If such conditions are satisfied, the first installment becomes exercisable on February 19, 2011, and the next two installments become exercisable on February 19, 2012 and February 19, 2013, respectively.

F3: These units are awarded pursuant to the Restoration Supplemental Retirement Plan ("Restoration Plan"). Generally, units under this plan shall be paid out following termination of employment or later as per the terms of the plan document. Each unit represents a hypothetical AES investment equal to one share of AES Common stock and units under the Restoration Plan are 100% vested upon award.

F4: The Company did not meet the threshold performance conditions for this 2007 RSU award resulting in the forfeiture of the award. In column 9, the Company has voluntarily included amounts for grants awarded in 2008 and 2009 where performance criteria have not been met. The Company intends to discontinue voluntary disclosure of awards where performance criteria have not been met. The amount also includes 44,883 RSUs that were granted in 2007 which include only time-based vesting.