Robert Schaefer Form 4 STEM / Robert Schaefer ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Schaefer Robert

(Last) (First) (Middle)

100 CALIFORNIA STREET

14TH FL.

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STEM, INC. [ STEM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President, Transformational

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, Par Value $0.0001 Per Share	03/01/2024		M		16,747	A	$0	758,422	D
Common Stock, Par Value $0.0001 Per Share								268,943	I	By 2021 N.R. Schaefer Legacy Trust(1)
Common Stock, Par Value $0.0001 Per Share								268,943	I	By 2021 K.B. Schaefer Legacy Trust(2)
Common Stock, Par Value $0.0001 Per Share								537,886	I	By Trust(3)
Common Stock, Par Value $0.0001 Per Share	03/01/2024		A		101,096(4)	A	$0	859,518	D
Common Stock, Par Value $0.0001 Per Share	03/04/2024		S		5,945(5)	D	$2.48	853,573	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	$0	03/01/2024		M			16,747	(6)	(6)	Common Stock, Par Value $0.0001 Per Share	16,747	$0	77,573	D

Explanation of Responses:

1. Held by the 2021 N.R. Schaefer Legacy Trust, of which the reporting person is the settlor.

2. Held by the 2021 K.B. Schaefer Legacy Trust, of which the reporting person is the settlor.

3. Held by the Schaefer Descendants Trust, of which the reporting person is the settlor.

4. Shares issued in connection with bonus earned under the Issuer's 2023 annual incentive plan based on attainment of corporate performance goals.

5. Represents shares of common stock automatically sold to cover the reporting person's tax liability in connection with the settlement of RSUs. This "sell to cover" transaction does not represent a discretionary trade by the reporting person.

6. On March 1, 2022, the reporting person was granted 66,988 RSUs vesting in four equal annual installments beginning on March 1, 2023.

Remarks:

	/s/ Chen Zhang, attorney-in-fact	03/05/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.