X0201 4 2003-12-10 0 0001261482 DISTRIBUTED ENERGY SYSTEMS CORP DESC 0001237332 FRIEDLAND ROBERT J/CT/ 10 TECHNOLOGY DRIVE WALLINGFORD CT 06492 0 1 0 0 Senior VP of PES Common Stock 326312 D Incentive Stock Option (right to buy) 2.9 2003-12-10 5 A 0 7500 2.9 A 2013-12-10 Common Stock 7500 7500 D Non-Qualified Stock Option (right to buy) 2.9 2003-12-10 5 A 0 7500 2.9 A 2013-12-10 Common Stock 7500 7500 D Incentive Stock Option (right to buy) 0.35 2000-02-10 2009-02-10 Common Stock 35420 35420 D Incentive Stock Option (right to buy) 0.5 2001-01-01 2010-01-01 Common Stock 182 182 D Incentive Stock Option (right to buy) 2.99 2003-12-13 2012-12-13 Common Stock 1250 1250 D Incentive Stock Option (right to buy) 6 2001-06-21 2010-06-21 Common Stock 25000 25000 D Incentive Stock Option (right to buy) 7.38 2002-12-14 2011-12-14 Common Stock 2513 2513 D Incentive Stock Option (right to buy) 8.61 2003-01-07 2012-01-07 Common Stock 687 687 D Incentive Stock Option (right to buy) 10.75 2001-12-12 2010-12-12 Common Stock 7578 7578 D Incentive Stock Option (right to buy) 17 2001-09-29 2010-09-29 Common Stock 13904 13904 D Non-Qualified Stock Option (right to buy) 2.99 2003-12-13 2012-12-13 Common Stock 3750 3750 D Non-Qualified Stock Option (right to buy) 7.38 2002-12-14 2011-12-14 Common Stock 28243 28243 D Non-Qualified Stock Option (right to buy) 8.61 2003-01-07 2012-01-07 Common Stock 2063 2063 D Non-Qualified Stock Option (right to buy) 10.75 2001-12-12 2010-12-12 Common Stock 22733 22733 D Non-Qualified Stock Option (right to buy) 17 2001-09-29 2010-09-29 Common Stock 66096 66096 D 4yr 25% On Vest 100% Vested at Grant For purposes of column 4 on table I and column 5 on table II, each of the transactions set forth on this Form 4 will be considered the acquisition (A) of securities or derivative securities, as the case may be. For purposes of column 2 on table I and column 3 on table II, each of the transactions set forth on this Form 4 occurred on December 10, 2003. For purposes of column 3 on table I and column 4 on table II, each of the transactions set forth on this Form 4 has Transaction Code "J". On December 12, 2003, Proton Energy Systems, Inc. ("Proton") and Northern Power Systems, Inc. ("Northern") each merged with separate, wholly owned subsidiaries of the Issuer (the "Mergers"). Prior to the Mergers, the Issuer was a wholly owned subsidiary of Proton. In the Mergers, each share of Proton common stock converted into one share of the Issuer's common stock, and each option to purchase one share of Proton common stock converted into an option to purchase one share of the Issuer's common stock. By: Sherry E. Munro For: Robert J. Friedland 2003-12-12