SEC Form SC 13G/A filed by ESS Tech Inc. (Amendment)

2/9/23 10:59:20 AM ET

Industrial Machinery/Components

Miscellaneous

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SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.1 ESS TECH INC CLASS A COMMON STOCK Cusip #26916J106 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #26916J106 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 787,705 Item 6: 0 Item 7: 787,895 Item 8: 0 Item 9: 787,895 Item 11: 0.441% Item 12: HC Cusip #26916J106 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 787,895 Item 8: 0 Item 9: 787,895 Item 11: 0.441% Item 12: IN Item 1(a). Name of Issuer: ESS TECH INC Item 1(b). Address of Issuer's Principal Executive Offices: 26440 SW PARKWAY AVE., BLDG. 83 WILSONVILLE, OR 97070 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: CLASS A COMMON STOCK Item 2(e). CUSIP Number: 26916J106 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 787,895 (b) Percent of Class: 0.441% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 787,895 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof, the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following (X). Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the CLASS A COMMON STOCK of ESS TECH INC. No one other person's interest in the CLASS A COMMON STOCK of ESS TECH INC is more than five percent of the total outstanding CLASS A COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing orinfluencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. February 9, 2023 Date /s/ Stephanie J. Brown Signature Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. Exhibit A Pursuant to the instructions in Item 7 of Schedule 13G, the following table lists the identity and Item 3 classification, if applicable, of each relevant entity that beneficially owns shares of the security class being reported on this Schedule 13G. Entity ITEM 3 Classification Fidelity Management & Research Company LLC IA Abigail P. Johnson is a Director, the Chairman and the Chief Executive Officer of FMR LLC. Members of the Johnson family, including Abigail P. Johnson, are the predominant owners, directly or through trusts, of Series B voting common shares of FMR LLC, representing 49% of the voting power of FMR LLC. The Johnson family group and all other Series B shareholders have entered into a shareholders' voting agreement under which all Series B voting common shares will be voted in accordance with the majority vote of Series B voting common shares. Accordingly, through their ownership of voting common shares and the execution of the shareholders' voting agreement, members of the Johnson family may be deemed, under the Investment Company Act of 1940, to form a controlling group with respect to FMR LLC. This filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by FMR LLC, certain of its subsidiaries and affiliates, and other companies (collectively, the "FMR Reporters"). This filing does not reflect securities, if any, beneficially owned by certain other companies whose beneficial ownership of securities is disaggregated from that of the FMR Reporters in accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998). RULE 13d-1(k)(1) AGREEMENT The undersigned persons, on February 9, 2023, agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the CLASS A COMMON STOCK of ESS TECH INC at December 30, 2022. FMR LLC By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January 3, 2023, by and on behalf of FMR LLC and its direct and indirect subsidiaries* Abigail P. Johnson By /s/ Stephanie J. Brown Stephanie J. Brown Duly authorized under Power of Attorney effective as of January, 26, 2023, by and on behalf of Abigail P. Johnson** * This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 10, 2023, accession number: 0000315066-23-000003. ** This power of attorney is incorporated herein by reference to Exhibit 24 to the Schedule 13G filed by FMR LLC on January 31, 2023, accession number: 0000315066-23-000038.

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10/10/2025	$3.50	Neutral → Buy	Roth Capital
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SEC Form SC 13G/A filed by ESS Tech Inc. (Amendment)

2/9/23 10:59:20 AM ET

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Industrial Machinery/Components

Miscellaneous

Get the next $GWH alert in real time by email

Recent Analyst Ratings for

$GWH

Date	Price Target	Rating	Analyst
10/10/2025	$3.50	Neutral → Buy	Roth Capital
3/4/2025	$17.00 → $3.00	Buy → Neutral	ROTH MKM
11/14/2024	$14.00 → $9.00	Neutral → Underperform	Robert W. Baird
11/14/2024		Outperform → Perform	Oppenheimer
7/12/2024	$1.50	Buy	ROTH MKM
7/13/2022	$3.75	Hold	Canaccord Genuity
6/29/2022	$3.50	Neutral	Chardan Capital Markets
3/31/2022	$7.00	Hold	Deutsche Bank

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SEC Form SC 13G/A filed by ESS Tech Inc. (Amendment)

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SEC Filings

ESS Tech Inc. filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders

SEC Form SCHEDULE 13G filed by ESS Tech Inc.

SEC Form 10-Q filed by ESS Tech Inc.

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Press Releases

ESS to Present in Clean Energy Group's Beyond Lithium Webinar Series on June 3, 2026

ESS to Attend Sidoti Micro-Cap Virtual Conference on May 20, 2026

ESS Tech, Inc. Announces First Quarter 2026 Financial Results

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Insider Purchases

Chief Executive Officer Dresselhuys Eric P. bought $5,227 worth of shares (1,000 units at $5.23), increasing direct ownership by 0.56% to 180,580 units (SEC Form 4)

Director Teamey Kyle bought $956 worth of shares (142 units at $6.73), increasing direct ownership by 0.57% to 25,227 units (SEC Form 4)

Teamey Kyle bought $987 worth of shares (1,250 units at $0.79), increasing direct ownership by 0.73% to 173,609 units (SEC Form 4)

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Insider Trading

Director Wellman Alexi was granted 13,513 shares, increasing direct ownership by 35% to 52,399 units (SEC Form 4)

Director Quarls Harry was granted 13,513 shares, increasing direct ownership by 24% to 68,769 units (SEC Form 4)

Director Nijhawan Sandeep was granted 13,513 shares, increasing direct ownership by 47% to 42,563 units (SEC Form 4)

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Analyst Ratings

ESS Inc. upgraded by Roth Capital with a new price target

ESS Inc. downgraded by ROTH MKM with a new price target

ESS Inc. downgraded by Robert W. Baird with a new price target

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Leadership Updates

ESS Announces Agreement to Join Salt River Project and Google Long Duration Energy Storage Collaboration

ESS Appoints Randall Selesky as Chief Commercial Officer to Accelerate Global Growth

ESS Tech Appoints Drew Buckley as Chief Executive Officer and Announces New Leadership Changes

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Large Ownership Changes

Amendment: SEC Form SC 13D/A filed by ESS Tech Inc.