Company: FTCI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047224
Chunk: 74

Company: FTC Solar, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 74
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 our common stock to date. The payment of any cash dividends in the future is within the discretion of our board of directors and is subject to certain limitations under the Purchase Agreement with the Investor relating to our sale and issuance of $15.0 million in principal amount of Senior Notes in December 2024.

Securities authorized for issuance under equity compensation plans

At December 31, 2024, shares of our common stock were issuable under our 2017 Stock Incentive Plan (the "2017 Plan") and our 2021 Stock Incentive Plan (the "2021 Plan"), both of which were adopted by our board of directors and stockholders, as follows:

    Plan category
     
    Number of securities to be issued upon exercise of outstanding options, warrants and rights

    Weighted-average exercise price of outstanding options, warrants and rights

    Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))

    (a)

    (b)

    (c)

    Equity compensation plans approved by security holders:

    Stock options

    219,653

    $
    19.73

    N/A

    Restricted stock units

    1,057,466

    —

    N/A

    Equity compensation plans not approved by security holders:

    Restricted stock units

    650,000

    —

    —

    Total

    1,927,119

    $
    19.73

    613,024

On July 1, 2022, we filed a registration statement on Form S-8 to register 500,000 (on a post-split basis) shares of common stock for issuance upon the settlement of RSUs and the exercise of stock options previously granted under 

40

the 2017 Plan that remain outstanding. No new awards have been or will be granted under the 2017 Plan following the effectiveness of our 2021 Plan on April 27, 2021. 

The number of shares initially reserved for issuance under the 2021 Plan was 1,264,524 (on a post-split basis), which will automatically increase on January 1 of each calendar year prior to the tenth anniversary of the Plan's effective date in an amount equal to the lesser of (i) 4% of the total number of shares of common stock outstanding on the day prior (December 31st), and (ii) a number of shares of common stock determined by the compensation committee of the