# EDGAR Filing Document

**Accession Number:** 0001664703
**File Stem:** 0001193125-26-274388
**Filing Date:** 2026-6
**Character Count:** 36721
**Document Hash:** 3ee52ce262963ae839735f83b7cd4d7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-274388.hdr.sgml**: 20260617

**ACCESSION NUMBER**: 0001193125-26-274388

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260615

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260617

**DATE AS OF CHANGE**: 20260617

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bloom Energy Corp
- **CENTRAL INDEX KEY:** 0001664703
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRICAL INDUSTRIAL APPARATUS [3620]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 770565408
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38598
- **FILM NUMBER:** 261099473

**BUSINESS ADDRESS:**
- **STREET 1:** 4353 NORTH FIRST STREET
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95134
- **BUSINESS PHONE:** 408-543-1500

**MAIL ADDRESS:**
- **STREET 1:** 4353 NORTH FIRST STREET
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95134

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported):

#### June 15, 2026

## BLOOM ENERGY CORPORATION

#### (Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38598** | **77-0565408** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission<br>File Number)** | **(I.R.S. Employer<br>Identification Number)** |

---

#### 4353 North First Street,

#### San Jose, California

#### 95134

#### (Address of principal executive offices, including zip code)

#### 408 543-1500

#### (Registrant's telephone number, including area code)

#### Not Applicable

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | |
|:---|:---|
| **Title of each class** | **Name of each exchange<br>on which registered** |
| Common Stock, $0.0001 par value BE | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 5.02.** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

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#### Background
Bloom Energy Corporation ("Bloom" or the "Company") develops and manufactures a solid oxide fuel cell platform that provides resilient, reliable and clean distributed power. Bloom was founded in 2001 by Dr. KR Sridhar, the Company's Chief Executive Officer.

Recent explosive growth in demand for highly reliable power has strained conventional centralized power models. In response to grid constraints and the need for schedule certainty, customers are increasingly turning to on-site and islanded power solutions—the market Dr. Sridhar designed Bloom's fuel cell platform to serve. Under Dr. Sridhar's leadership, the Company has continued to drive technical and operational innovation and is executing on a strategy for its fuel cell technology to become a standard architecture for on-site power in next generation, power intensive industries. For perspective, Bloom Energy's market-capitalization value grew from approximately $5b as of December 31, 2024 to approximately $79b as of June 15, 2026.

#### Performance Grant
On June 15, 2026, the Board of Directors of the Company (the "Board") approved a grant of performance-based restricted stock units ("PSUs") in respect of 271,076 shares of common stock of the Company at the target level (the "2026 Award") under the Company's 2018 Equity Incentive Plan to Dr. Sridhar. The grant of the 2026 Award was based on the recommendation of the Compensation and Organizational Development Committee of the Board (the "Compensation Committee") and following consultation with Meridian Compensation Partners, an independent compensation consultant retained by the Compensation Committee.

The 2026 Award is designed to retain Dr. Sridhar and align his long-term incentives with the Company's strategic priorities during this period of significant growth and transformation in the energy industry. In approving the 2026 Award, the Board considered, among other factors, Dr. Sridhar's exceptional leadership, technical vision, operating rigor and proven ability to anticipate and respond to evolving market dynamics. The Board also considered the critical importance of sustained leadership continuity as the Company executes its next phase of growth and stockholder feedback emphasizing the need to retain Dr. Sridhar as Chief Executive Officer beyond 2027, when his previous equity award from 2024 will vest.

Vesting of the 2026 Award is conditioned on the achievement of objective total revenue targets, measured based on the four consecutive fiscal quarters within the period beginning July 1, 2026 and ending December 31, 2029, during which the Company's aggregate total revenue is highest. The number of PSUs subject to vest based on such achievement may be adjusted upward or downward based on the Company's non-GAAP product gross margin in fiscal year 2029, further reinforcing a focus on both growth and profitability. Dr. Sridhar is eligible to earn up to 300% of the target number of PSUs under the 2026 Award. The Board determined that these rigorous performance criteria properly align with the Company's strategic priority to secure product adoption, drive significant revenue scale, expand margins, and strengthen its competitive position as a leader in distributed energy solutions.

Vesting is also subject to Dr. Sridhar's continuous leadership of the Company through December 31, 2029, subject to limited exceptions. Moreover, in general, Dr. Sridhar must hold the net shares delivered from the vesting of the 2026 Award until December 31, 2031, further aligning his long-term interests with those of the Company's stockholders.

In approving the 2026 Award, the Board further considered the performance-based equity award granted in 2024 (the "2024 Award"), based on the achievement of annual performance goals in each of fiscal years 2025, 2026 and 2027, measured based on a combination of product revenue growth and non-GAAP product gross margin. The Board noted that these metrics differ from those under the 2026 Award, which is primarily based on aggregate total revenue over a multi-year measurement period, and that the two awards are designed to drive sustained performance across distinct but complementary measures. The Board also noted that the 2024 Award established challenging targets at the time of grant and that the Company's recent performance has exceeded those expectations. In light of this outperformance and the expanded and evolving market opportunity it created for the Company, the Board determined that a new award with additional rigorous performance requirements was appropriate to incentivize continued strong execution and further align pay with stockholder value creation.

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| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits**  |

---

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| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| 10.1 | [Form of Performance Stock Unit Award Agreement under Bloom Energy's 2018 Equity Incentive Plan (without Exhibit A)](d100413dex101.htm) |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |

---

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | |
|:---|:---|
| SIGNATURES<br> **BLOOM ENERGY CORPORATION**<br> (Registrant) | SIGNATURES<br> **BLOOM ENERGY CORPORATION**<br> (Registrant) |
| By: | /s/ Shawn Soderberg |
| Name: | Shawn Soderberg |
| Title: | Chief Legal Officer and Corporate Secretary |
| Date: | June 17, 2026 |

---

## Exhibit 10.1

**Exhibit 10.1** 

**NOTICE OF PERFORMANCE-BASED STOCK UNITS** 

**BLOOM ENERGY CORPORATION** 

**2018 EQUITY INCENTIVE PLAN** 

Unless otherwise defined herein, the terms defined in the Bloom Energy Corporation (the "***Company***") 2018 Equity Incentive Plan (the "***Plan***") shall have the same meanings in this Notice of Performance-based Stock Units (the "***Notice***") and the attached Performance-based Stock Unit Agreement, including <u>Exhibit A</u> attached hereto (collectively, the "***PSU Agreement***"). You have been granted an award of Performance-based Stock Units ("***PSUs***") under the Plan subject to the terms and conditions of the Plan, this Notice and the attached PSU Agreement. Capitalized terms that are undefined will have the meaning set forth in the Plan.

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| | |
|:---|:---|
| **Name:** | KR Sridhar |
| **Number of PSUs:** | 271076 |
| **Date of Grant:** | June 15, 2026 |
| **Grant Number:** |  |
| **Vesting Schedule:** | The PSUs shall vest and the number of Shares issuable determined in accordance with the terms and conditions set forth on <u>Exhibit A</u> attached hereto. |

---

This Grant Notice may be executed and delivered electronically, whether via the Company's intranet or the Internet site of a third party or via email or any other means of electronic delivery specified by the Company. By accepting this award of PSUs, you consent to the electronic delivery and acceptance as further set forth in the PSU Agreement. You acknowledge that, except as set forth on <u>Exhibit A</u>, the vesting of the PSUs pursuant to this Notice is earned only by continuing Qualified Service through the end of the Performance Period (each as defined on <u>Exhibit A</u>), but you understand that your employment or consulting relationship with the Company or a Parent, Subsidiary or Affiliate can be terminated at will, with or without notice, and that nothing in this Notice of Grant, the PSU Agreement or the Plan changes the nature of that relationship. By accepting this award, you and the Company agree that this award is granted under and governed by the terms and conditions of the Plan, this Notice and the PSU Agreement.

---

| | |
|:---|:---|
| **BLOOM ENERGY CORPORATION** | **PARTICIPANT** |
| By: |  |
|  | (Signature) |
|  | KR Sridhar |
| (Please print name and title) |  |

---

 <br> Address:

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**PERFORMANCE-BASED STOCK UNIT AGREEMENT** 

**BLOOM ENERGY CORPORATION** 

**2018 EQUITY INCENTIVE PLAN** 

You have been granted Performance-based Stock Units ("***PSUs***") by Bloom Energy Corporation (the "***Company***") subject to the terms, restrictions and conditions of the Plan, the Notice of Performance-based Stock Units (the "***Notice***") and this Performance-based Stock Unit Agreement, including <u>Exhibit A</u> attached hereto (collectively, this "***PSU Agreement***").

**1. <u>Settlement</u>.** Settlement of PSUs shall be made in the same calendar year as the applicable date of vesting under the vesting schedule set forth in the Notice; <u>provided</u>, <u>however</u>, that if the vesting date under the vesting schedule set forth in the Notice is in December, then settlement of any PSUs that vest in December shall occur within 30 days of vesting. Settlement of PSUs shall be in Shares. Settlement means the delivery to you of the Shares vested under the PSUs. Fractional Shares will not be issued.

**2. <u>No Stockholder Rights</u>.** Unless and until such time as Shares are issued in settlement of vested PSUs, you shall have no ownership of the Shares allocated to the PSUs and shall have no right to dividends or to vote such Shares.

**3. <u>Dividend Equivalents</u>.** Dividend equivalents, if any, shall not be credited to you, except as otherwise permitted by the Committee, and if credited shall not be paid prior to vesting of the corresponding shares.

**4. <u>No Transfer</u>.** PSUs may not be sold, assigned, transferred, pledged, hypothecated, or otherwise disposed of in any manner other than by will or by the laws of descent or distribution or court order or unless otherwise permitted by the Committee.

**5. <u>Post-Vesting Holding Period</u>.** Any Shares issued to you upon vesting and settlement of PSUs pursuant to this PSU Agreement, net of any Shares withheld by the Company to satisfy Tax-Related Items shall be subject to a mandatory post-vesting holding period and may not be sold, transferred, assigned, pledged, hypothecated or otherwise disposed of prior to December 31, 2031 (the "***Holding Period Expiration Date***"). The foregoing restriction shall lapse in full on the earlier of (i) the Holding Period Expiration Date (ii) your death, subject in each case to your (or, as applicable, your estate's) continued compliance with any applicable Company insider trading policies and applicable law.

**6. <u>Cessation of Qualified Service</u>.** In the event of the cessation of your Qualified Service, all outstanding and unvested PSUs shall terminate to the extent provided on <u>Exhibit A</u> <u>,</u> without payment of any consideration to you or as otherwise set forth in your Employment, Change in Control and Severance Agreement,

**7. <u>Responsibility for Taxes</u>.** Regardless of any action the Company or, if different, your employer (the "***Employer***") takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account and other tax-related items related to your participation in the Plan and legally applicable to you ("***Tax-Related Items***"), you acknowledge that the ultimate liability for all Tax-Related Items is and remains your responsibility and may exceed the amount actually withheld by the Company or the Employer. You further acknowledge that the Company and the Employer (a) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the award, including the grant, vesting or settlement of the PSUs, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any dividends; and (b) do not commit to and are under no obligation to structure the terms of the award or any aspect of the PSUs to reduce or eliminate your liability for Tax-Related Items or achieve any particular tax result. You acknowledge that if you are subject to Tax-Related Items in more than one jurisdiction, the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.

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Prior to any relevant taxable or tax withholding event, as applicable, you shall pay or make adequate arrangements to satisfy any withholding obligation the Company and/or the Employer may have for Tax-Related Items. In this regard, you authorize the Company and/or the Employer, and their respective agents, at their discretion, to withhold all applicable Tax-Related Items from your wages or other cash compensation paid to you by the Company and/or the Employer or by one or a combination of the following methods: (a) having the Company withhold otherwise deliverable cash or Shares having a value equal to the Tax-Related Items to be withheld; (b) withholding from proceeds of the sale of the Shares, either through a voluntary sale or through a mandatory sale arranged by the Company (on your behalf pursuant to this authorization); or (c) any other arrangement approved by the Company and permissible under applicable law; in all cases, under such rules as may be established by the Committee and in compliance with the Company's Insider Trading Policy and 10b5-1 Trading Plan Policy, if applicable.

Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable statutory withholding rates or other applicable withholding rates, including up to the maximum applicable rate in your jurisdiction, in which case you may receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent in Shares. If the obligation for Tax-Related Items is satisfied by withholding in Shares, for tax purposes, you are deemed to have been issued the full number of Shares subject to the vested PSUs, notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items.

Finally, you acknowledge that the Company has no obligation to deliver Shares or proceeds from the sale of Shares to you until you have satisfied the obligations in connection with the Tax-Related Items as described in this Section.

**8. <u>Nature of Grant</u>.** In accepting this award of PSUs, you acknowledge, understand and agree that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the grant of the PSUs is exceptional, voluntary and occasional and does not create any contractual or other right to receive future awards of PSUs, or benefits in lieu of PSUs, even if PSUs have been granted in the past;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all decisions with respect to future PSUs or other grants, if any, will be at the sole discretion of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) you are voluntarily participating in the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the PSUs and the Shares subject to the PSUs, and the income from and value of same, are not intended to replace any pension rights or compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the PSUs and the Shares subject to the PSUs, and the income from and value of same, are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, holiday pay, bonuses, long-service awards, leave-related payments, pension or retirement benefits or payments or welfare benefits or similar mandatory payments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) unless otherwise agreed with the Company, the PSUs and any Shares acquired under the Plan, and the income from and value of same, are not granted as consideration for, or in connection with, any Service you may provide as a director of a Subsidiary or Affiliate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) no claim or entitlement to compensation or damages shall arise from forfeiture of the PSUs resulting from the cessation of your Qualified Service (for any reason whatsoever whether or not later found to be invalid or in breach of labor laws in the jurisdiction where you are providing Service or the terms of your employment or service agreement, if any); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) neither the Company, the Employer nor any Parent, Subsidiary or Affiliate shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the PSUs or the Shares acquired upon settlement of the PSUs or the amount received upon the subsequent sale of any Shares.

**9. <u>Data Privacy</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a)** <u>Declaration of Consent</u>. By accepting this award of PSUs and indicating consent by signing this PSU Agreement or via the Company's online acceptance procedure, you are declaring that you agree with the data processing practices described herein and consent to the collection, processing and use of Data by the Company and the transfer of Data to the recipients mentioned below, including recipients located in countries which may not have a similar level of protection from the perspective of your country's data protection law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b)** <u>Data Collection and Usage</u>. The Company and the Employer may collect, process and use certain personal information about you, including, but not limited to, your name, home address and telephone number, email address, date of birth, social security or insurance number, passport or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all PSUs granted under the Plan or any other entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in your favor ("***Data***"), for the purposes of implementing, administering and managing the Plan. The legal basis, where required, for the processing of Data is your consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c)** <u>Stock Plan Administration Service Providers</u>. The Company transfers Data to E\*Trade Corporate Financial Services, Inc. and E\*Trade Securities LLC, an independent service provider based in the United States, which is assisting the Company with the implementation, administration and management of the Plan. In the future, the Company may select a different service provider and share Data with such other provider serving in a similar manner. You may be asked to agree on separate terms and data processing practices with the service provider, with such agreement being a condition to the ability to participate in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)** <u>International Data Transfers</u>. The Company and its service providers are based in the United States. Your country or jurisdiction may have different data privacy laws and protections than the United States. For example, the European Commission has issued a limited adequacy finding with respect to the United States that applies only to the extent companies register for the EU-U.S. Privacy Shield program. The Company's legal basis, where required, for the transfer of Data is your consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e)** <u>Data Retention</u>. The Company will hold and use the Data only as long as is necessary to implement, administer and manage your participation in the Plan, or as required to comply with legal or regulatory obligations, including under tax and security laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f)** <u>Voluntariness and Consequences of Consent Denial or Withdrawal</u>. Participation in the Plan is voluntary and you are providing the consents herein on a purely voluntary basis. If you do not consent, or if you later seek to revoke your consent, your salary from or employment and career with the Employer will not be affected; the only consequence of refusing or withdrawing your consent is that the Company would not be able to grant the PSUs under the Plan to you or administer or maintain your participation in the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(g)** <u>Data Subject Righ</u>ts. You may have a number of rights under data privacy laws in your jurisdiction. Depending on where you are based, such rights may include the right to (i) request access or copies of Data the Company processes, (ii) rectification of incorrect Data, (iii) deletion of Data, (iv) restrictions on processing of Data, (v) portability of Data, (vi) lodge complaints with competent authorities in your jurisdiction, and/or (vii) receive a list with the names and addresses of any potential recipients of Data. To receive clarification regarding these rights or to exercise these rights, you understand that you can contact your local human resources representative.

**10. <u>Acknowledgement</u>.** The Company and you agree that the PSUs are granted under and governed by the Notice, this PSU Agreement and the provisions of the Plan. You: (a) acknowledge receipt of a copy of the Plan prospectus, (b) represent that you have carefully read and are familiar with the provisions in the grant documents, and (c) hereby accept the PSUs subject to all of the terms and conditions set forth in this PSU Agreement and those set forth in the Notice. You hereby agree to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions relating to the Plan, the Notice and this PSU Agreement.

**11. <u>Entire Agreement; Enforcement of Rights</u>.** This PSU Agreement, the Plan and the Notice constitute the entire agreement and understanding of the parties relating to the subject matter herein and supersede all prior discussions between them. Any prior agreements, commitments or negotiations concerning the acquisition of the Shares hereunder are superseded. No modification of or amendment to this PSU Agreement, nor any waiver of any rights under this PSU Agreement, shall be effective unless in writing and signed by the parties to this PSU Agreement. The failure by either party to enforce any rights under this PSU Agreement shall not be construed as a waiver of any rights of such party.

**12. <u>Compliance with Laws and Regulations</u>.** The issuance of Shares will be subject to and conditioned upon compliance by the Company and you with all applicable state, federal and foreign laws and regulations and with all applicable requirements of any stock exchange or automated quotation system on which the Company's common stock may be listed or quoted at the time of such issuance or transfer, which compliance the Company shall, in its absolute discretion, deem necessary or advisable. You understand that the Company is under no obligation to register or qualify the Company's common stock with any state, federal or foreign securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of the Shares. Further, you agree that the Company shall have unilateral authority to amend the Plan and this PSU Agreement without your consent to the extent necessary to comply with securities or other laws applicable to issuance of Shares. Finally, the Shares issued pursuant to this PSU Agreement shall be endorsed with appropriate legends, if any, determined by the Company.

**13. <u>No Advice Regarding Grant</u>.** The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding your participation in the Plan, or your acquisition or sale of the underlying Shares. You should consult with your own personal tax, legal and financial advisors regarding your participation in the Plan before taking any action related to the Plan.

**14. <u>Governing Law; Venue</u>.** This PSU Agreement, all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflict of laws. For purposes of litigating any dispute that may arise directly or indirectly from the Plan, the Notice and this PSU Agreement, the parties hereby submit and consent to litigation in the exclusive jurisdiction of the State of California and agree that any such litigation shall be conducted only in the courts of California in Santa Clara County, California or the federal courts of the United States for the Northern District of California and no other courts.

**15. <u>Severability</u>.** If one or more provisions of this PSU Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (a) such provision shall be excluded from this PSU Agreement, (b) the balance of this PSU Agreement shall be interpreted as if such provision were so excluded, and (c) the balance of this PSU Agreement shall be enforceable in accordance with its terms.

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**16. <u>No Rights as Employee, Director or Consultant</u>.** Nothing in this PSU Agreement shall create a right to employment or other Service or be interpreted as forming or amending an employment, service contract or relationship with the Company, and this PSU Agreement shall not affect in any manner whatsoever any right or power of the Company, or a Parent, Subsidiary or Affiliate, to terminate your Service, for any reason, with or without Cause.

**17. <u>Consent to Electronic Delivery and Acceptance of All Plan Documents and Disclosures</u>.** By your acceptance of this award of PSUs, you consent to the electronic delivery of the Notice, this PSU Agreement, the Plan, account statements, Plan prospectuses required by the U.S. Securities and Exchange Commission, U.S. financial reports of the Company, and all other documents that the Company is required to deliver to its stockholders (including, without limitation, annual reports and proxy statements) or other communications or information related to the PSUs. Electronic delivery may include the delivery of a link to a Company intranet or the Internet site of a third party involved in administering the Plan, the delivery of the document via email or such other delivery determined at the Company's discretion. You acknowledge that you may receive from the Company a paper copy of any documents delivered electronically at no cost if you contact the Company by telephone, through a postal service or electronic mail at stock@bloomenergy.com. You further acknowledge that you will be provided with a paper copy of any documents delivered electronically if electronic delivery fails; similarly, you understand that you must provide, on request to the Company or any designated third party, a paper copy of any documents delivered electronically if electronic delivery fails. You agree to participate in the Plan through an online or electronic system established and maintained by the Company or a third party designated by the Company. Also, you understand that your consent may be revoked or changed, including any change in the electronic mail address to which documents are delivered (if you have provided an electronic mail address), at any time by notifying the Company of such revised or revoked consent by telephone, postal service or electronic mail at stock@bloomenergy.com. Finally, you understand that you are not required to consent to electronic delivery.

**18. <u>Insider Trading Restrictions/Market Abuse Laws</u>.** You acknowledge that, depending on the laws of applicable jurisdictions, including, but not limited to, your country and the United States, you may be subject to insider trading restrictions and/or market abuse laws, which may affect your ability to accept, acquire, sell or otherwise dispose of Shares, rights to Shares (*e*.*g*., PSUs) or rights linked to the value of Shares under the Plan during such times as you are considered to have "material non-public information" or "inside information" regarding the Company (as defined by the laws or regulations in the relevant jurisdictions). Any restrictions under these laws or regulations are separate from, and in addition to, any restrictions that may be imposed under any applicable Company insider trading policy. You acknowledge that it is your responsibility to comply with any applicable restrictions, and you should speak to your personal advisor on this matter.

**19. <u>Foreign Asset/Account Reporting</u>.** You acknowledge that there may be certain foreign asset and/or account reporting requirements which may affect your ability to acquire Shares or hold Shares acquired under the Plan or cash received from participating in the Plan (including from any dividends paid on Shares acquired under the Plan) in a brokerage or bank account outside your country. You may be required to report such accounts, assets or transactions to the tax or other authorities in your country.

**20. <u>Language</u>.** You acknowledge that you are proficient in the English language and understand the provisions in this PSU Agreement and the Plan. If you have received this PSU Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control.

**21. <u>Imposition of Other Requirements</u>**. The Company reserves the right to impose other requirements on your participation in the Plan, on the PSUs and on any Shares acquired under the Plan, to the extent the Company determines necessary or advisable for legal or administrative reasons, and to require you to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

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**22. <u>Waiver</u>.** You acknowledge that a waiver by the Company of breach of any provision of this PSU Agreement shall not operate or be construed as a waiver of any other provision of this PSU Agreement, or of any subsequent breach by you or any other Participant.

**23. <u>Code Section</u> <u>409A</u>.** Notwithstanding anything else provided herein, to the extent any payments provided under this PSU Agreement in connection with your termination of employment constitute deferred compensation subject to Section 409A of the Code and the regulations thereunder ("***Section 409A***"), and you are deemed at the time of such termination of employment to be a "specified employee" under Section 409A, then such payment shall not be made or commence until the earlier of (a) the expiration of the six (6)-month period measured from your separation from service from the Company and (b) the date of your death following such a separation from service; <u>provided</u>, <u>however</u>, that such deferral shall apply to the extent required to avoid adverse tax treatment to you including, without limitation, the additional tax for which you would otherwise be liable under Section 409A(a)(1)(B) in the absence of such a deferral. To the extent any payment under this PSU Agreement may be classified as a "short-term deferral" within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A. Payments pursuant to this section are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations.

**24. <u>Award Subject to Company Clawback or Recoupment</u>.** To the extent permitted by applicable law, the PSUs shall be subject to clawback or recoupment pursuant to any clawback or recoupment policy adopted by the Board or the Committee or required by law during the term of your employment or other Service that is applicable to you. In addition to any other remedies available under such policy, applicable law may require the cancellation of your PSUs (whether vested or unvested) and the recoupment of any gains realized with respect to your PSUs.

BY ACCEPTING THIS AWARD OF PSUS, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

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**EXHIBIT A** 

**[THIS EXHIBIT HAS BEEN OMITTED BECAUSE THE INFORMATION THEREIN IS NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL]**