STEM, INC. — Director's Dealing 2026

Mar 3, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEM, INC. (STEM)
CIK: 0001758766
Period of Report: 2025-01-27

Reporting Person: Narayanan Arun (Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-26	Restricted Stock Unit	$	A	57600	Acquired		Common Stock, Par Value $0.0001 Per Share (57600)	Direct
2026-02-26	Performance Stock Unit	$	A	38400	Acquired		Common Stock, Par Value $0.0001 Per Share (38400)	Direct
2025-01-27	Performance Stock Unit	$	A	16250	Acquired		Common Stock, Par Value $0.0001 Per Share (16250)	Direct

Footnotes

F1: Each restricted stock unit ("RSU") and performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock.

F2: On February 26, 2026, the Reporting Person was granted 57,600 RSUs vesting in three nearly equal annual installments (33%, 33%, 34%), beginning on March 7, 2027.

F3: On February 26, 2026, the Reporting Person was granted 38,400 PSUs, a portion of which vests, if the volume-weighted average price of the Issuer's common stock for any consecutive sixty (60) trading-day period equals or exceeds a stock price target.

F4: On January 27, 2025, the Reporting Person was granted 16,250 PSUs, a portion of which vests, if the volume-weighted average price of the Issuer's common stock for any consecutive sixty (60) trading-day period equals or exceeds a stock price target. These PSUs were inadvertently omitted from the previous Form 4.