Company: ARRY
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001140361-25-012865
Chunk: 38

Company: Array Technologies, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 38
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   32 |     |   33 |     | ​32.2 |     | ​117 |
| Sales to Low Share of Wallet Customers (#) |     |  15 |     |    4 |     |  4.5 |     |    6 |     | ​6.9  |     | ​200 |
| Total                                      |     | 100 |     |      |     |      |     |      |     |       |     |  179 |

Final 2024 Bonus Determination In early 2025, the Human Capital Committee reviewed the Company’s financial performance against the pre-determined metrics and goals for the full year 2024 and the recalibrated metrics and goals for the second half of 2024. The Human Capital Committee concluded that the Company’s full-year performance resulted in the 2024 LIP goals being achieved at 78% of target and the Company’s six-month performance resulted in the Six-Month LIP goals being achieved at 179% of target. As a result of taking the average of the 78% payout indicated under the original 2024 LIP and the 179% payout indicated under the Six-Month LIP, the total overall annual incentive payout for 2024 was determined to be at 129% of target. We paid each of our currently employed NEOs an annual incentive payment equal to 95% of their target bonus as a result of the reduced aggregate payout cap adopted by the Human Capital Committee in September 2024. Under the terms of his Transition Agreement, Mr. Wood is entitled to an amount equal to his target annual cash bonus for 2024, pro-rated for his partial year of service. LONG-TERM STOCK INCENTIVE AWARDS Our Human Capital Committee considers stock ownership by management through stock-based compensation arrangements beneficial in aligning the interests of management with those of our stockholders. Under the provisions of the LTIP, our Human Capital Committee has the ability to grant stock and stock-based awards, including RSUs and PSUs, to our employees, including our NEOs, non-employee directors and consultants. Our Human Capital Committee grants annual long-term incentive awards to our executive officers, including our NEOs, in line with competitive market norms based upon each officer’s performance in a fiscal year. These awards are primarily designed to tie a substantial portion of each executive officer’s compensation to the longer-term future performance of the Company and to support the compensation philosophy adopted by our Human Capital Committee. The annual grant determin