FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * BUZBY DAVID S 2. Issuer Name and Ticker or Trading Symbol STEM, INC. [ STEM ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)         (First)         (Middle)
100 CALIFORNIA STREET, 14TH FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)
7/7/2021
(Street)
SAN FRANCISCO, CA 94111
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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  7/7/2021    M    32978  A $1.25  486280  D   
Common Stock, Par Value $0.0001 Per Share  7/7/2021    F    1209  D $34.11  485071  D   
Common Stock, Par Value $0.0001 Per Share  7/7/2021    M    27596  A $1.25  512667  D   
Common Stock, Par Value $0.0001 Per Share  7/7/2021    F    1012  D $34.11  511655  D   
Common Stock, Par Value $0.0001 Per Share  7/7/2021    M    166018  A $2.27  677673  D   
Common Stock, Par Value $0.0001 Per Share  7/7/2021    F    11049  D $34.11  666624  D   
Common Stock, Par Value $0.0001 Per Share                 89684  I  By the David S. Buzby Revocable Trust (1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Stock Option (Right to Buy)  $1.25  7/7/2021    M        32978   1/1/2019  7/20/2025  Common Stock, Par Value $0.0001 Per Share  32978.0  $0  217330  D   
Stock Option (Right to Buy)  $1.25  7/7/2021    M        27596   10/28/2019  10/27/2025  Common Stock, Par Value $0.0001 Per Share  27596.0  $0  189734  D   
Stock Option (Right to Buy)  $2.27  7/7/2021    M        166018   1/1/2019 (2) 10/31/2028  Common Stock, Par Value $0.0001 Per Share  166018.0  $0  23716 (3) D   

Explanation of Responses:
(1)  Held by the David S. Buzby Revocable Trust, of which the reporting person is sole trustee.
(2)  These options vested 25% on January 1, 2019, and the remaining options vested in equal monthly installments thereafter.
(3)  These options will vest in equal monthly installments through January 1, 2022.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
BUZBY DAVID S
100 CALIFORNIA STREET
14TH FLOOR
SAN FRANCISCO, CA 94111
X



Signatures
/s/ William Bush, Attorney-in-Fact 7/9/2021
**Signature of Reporting Person Date
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